The atr stop indicator does not trail anything. It answers a narrower question, bar by bar. If you opened a long here, where would the stop go? Two range units below this bar’s low, and the dot marks it.
This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from XAUUSD H1.
| Platforms | MT4 (.ex4) + MT5 (.ex5) |
|---|---|
| Chart window | Main price chart |
| Plots | 2: Long stop, Short stop |
| Alerts | popup, push notification, email, sound |
| Inputs | 8 |
What the ATR Stop Indicator draws on the chart
`Long stop` places a lime green dot below each bar using code 159.
`Short stop` places a red dot above it.
Each dot is independent, so the two rows are not lines.
No panel and no arrows ship with this build.
- Long stop: arrow, lime green, width 1, arrow code 159
- Short stop: arrow, red, width 1, arrow code 159
How the ATR Stop Indicator calculates its values
One reading per bar
iATR at `AtrPeriod` `14` measures the bar. `Mult` `2.0` scales that figure, and the result gets subtracted from the low or added to the high.
Nothing carries forward
Each bar computes its own pair from scratch. No previous value survives, which is the difference between this and a trailing stop that ratchets.
The dots follow the bar
Because the anchor is the bar’s own extreme, the row of dots tracks price rather than forming a smooth level. That is expected here rather than a fault.
How to read the signals
Read a single dot, not the row, since each bar stands alone.
Wider spacing between price and the dot means conditions have sped up.
The screenshot note picks XAUUSD, where the spacing changes visibly.
This build has no once-per-bar alert guard, so messages can repeat.
Alert channels in this build: popup, push notification, email and sound.
`EnableAlerts` controls the routes and ships true with `EnablePopup`. `EnablePushNotify` buzzes a phone, `EnableEmail` sends email and `EnableSound` plays an audio cue. Note that this build carries no once-per-bar guard, so a message can repeat inside a bar.
Every ATR Stop Indicator input
Core settings
| Setting | What it does | Default |
|---|---|---|
AtrPeriod |
Window feeding the range measure, default `14`. | 14 |
Mult |
Range units between the bar extreme and the stop, default `2.0`. | 2.0 |
Alert settings
| Setting | What it does | Default |
|---|---|---|
EnableAlerts |
One control over the alerts, default `true`. | on |
EnablePopup |
Terminal box, default `true`. | on |
EnablePushNotify |
Phone buzz, default `false`. | off |
EnableEmail |
Email delivery, default `false`. | off |
EnableSound |
Audio cue, default `false`. | off |
SoundFile |
Audio file the cue uses, default `”alert.wav”`. | alert.wav |
Settings that fit your chart
Stop distance matters most where range swings. The screenshot note picks XAUUSD H1, where gold expands and contracts sharply. EURUSD H1 gives a much steadier distance. Higher timeframes widen it considerably.
When the ATR Stop Indicator fails
Nothing trails, so this cannot manage a position over time.
Two range units is a starting point rather than a tested figure.
No once-per-bar guard applies here, unlike most builds in the library.
Copy the compiled ATR Stop Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.
Background reading on the method behind the ATR Stop Indicator: Excess volatility puzzle on Wikipedia, ATR Bands at StockCharts ChartSchool.
Download the ATR Stop Indicator for MT4 and MT5
The zip holds the compiled ATR Stop Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.
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FAQ
Does the ATR Stop line trail a position?
No, and that is the key difference from a trailing build. Each bar computes its own pair from its own extreme, and nothing carries forward. The dots show where a stop would start, not where it would move to.
Why does Mult 2.0 measure from the bar extreme?
Because a stop placed off the close would sit inside the bar’s own range. Measuring from the low for a long puts the level beyond the movement that bar already showed.
What does AtrPeriod 14 change?
How quickly the distance responds to conditions. A shorter window tightens stops sooner after a quiet stretch begins, while a longer one keeps the distance steadier across a session.
Why do the Long stop dots not form a line?
Each dot is independent of the one before it, since nothing ratchets. The row follows the shape of price rather than smoothing into a level, which is what a trailing build would give you.
Are results guaranteed?
No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the ATR Stop Indicator as one input. Always backtest before trading live.
Category: this is part of our Volatility collection. Thus, truly, yet, browse more Volatility for MetaTrader, or explore every MT4 indicator and MT5 indicator on the site.
External references
- The core method is documented in Excess volatility puzzle on Wikipedia.
- Additional market context is at ATR Bands at StockCharts ChartSchool.
About the author
Written by Dominic Walsh, a Forex trader and MT4/MT5 indicator, Expert Advisor and script developer. Every tool on forexmt4systems.com is tested on live charts before release and ships with ready-to-use compiled MT4 (.ex4) and MT5 (.ex5) files. Learn more about the trader and developer behind this site.
How we build, test and correct every tool: Editorial & Testing Policy. Trading carries risk; see the disclaimer.