An objective method of determining an initial Take Profit and Stop Loss, based on true market volatility and not arbitrary price levels.
Features & Functions
Quadrigo ATR can be set to any source to analyze price data.
Best Options = Close, HL2 , HLC3, OHLC4. Another indicator, moving average, etc. can also be selected.
Take Profit Levels and Stop Loss Levels are calculated based on multiples of ATR.
Default Values are Stop Loss = 1.5x ATR.
Take Profit 1 = 1x ATR. (Take 50% Profit and move stop-loss to break even at this level, or set a Trailing Stop Loss ( TSL ))
Take Profit 2 = 2x ATR. (Take 30% Profit and move stop-loss to Take Profit 1 at this level, or set a TSL )
Take Profit 3 = 3x ATR. (Exit Trade, or set a TSL with a value equal to Take Profit 2 at this level.)
Purpose
To give clear objective stop losses and take profit levels based off price volatility , rather than arbitrary price levels, percentage points, ticks, pips, etc.
