Atr Stop Loss Finder Indicator: Three Distances Each Way

Written by Dominic Walsh · Published 27 May 2026 · Last updated 18 Sep 2026

The atr stop loss finder indicator shows you the choice rather than making it. Three distances get drawn on each side of price. Comparing them against the chart is how you decide which one suits the trade in front of you.

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	6: Long SL x1.0, Long SL x1.5, Long SL x2.0, Short SL x1.0, Short SL x1.5, Short SL x2.0
Alerts	popup, push notification, email, sound
Inputs	10

Plots this indicator declares

`Long SL x1.0`, `Long SL x1.5` and `Long SL x2.0` run in sea green below price.

`Short SL x1.0`, `Short SL x1.5` and `Short SL x2.0` run in fire brick above it.

Line thickness increases with the multiple, so the widest is easiest to see.

All six anchor to the close rather than to a bar extreme.

• Long SL x1.0: line, sea green, width 1
• Long SL x1.5: line, sea green, width 2
• Long SL x2.0: line, sea green, width 3
• Short SL x1.0: line, fire brick, width 1
• Short SL x1.5: line, fire brick, width 2
• Short SL x2.0: line, fire brick, width 3

How the Atr Stop Loss Finder Indicator does its maths

One range reading, six offsets

iATR at `AtrPeriod` `14` runs once per bar. `M1` `1.0`, `M2` `1.5` and `M3` `2.0` then scale it, and each result gets both added to and subtracted from the close.

The close is the anchor

Using the close rather than the high or low keeps all six lines symmetrical. That makes the pairs directly comparable, which matters when you are choosing between them.

Nothing here picks for you

No test runs and no mark appears. The build presents three options per side and leaves the judgement where it belongs.

How to use what it draws

Compare each level against recent swing lows before choosing one.

A tight multiple sits inside normal noise on most instruments.

The lines move every bar, since range changes.

This build has no once-per-bar alert guard.

Alert channels in this build: popup, push notification, email and sound.

`EnableAlerts` covers the routes and arrives true with `EnablePopup`. `EnablePushNotify` reaches a phone, `EnableEmail` posts mail and `EnableSound` plays `SoundFile`. As with the sibling build, no once-per-bar guard applies here.

Every Atr Stop Loss Finder Indicator input

Core settings

Setting	What it does	Default
AtrPeriod	Bars in the range measure, default `14`.	14
M1	Tightest multiple drawn, default `1.0`.	1.0
M2	Middle multiple drawn, default `1.5`.	1.5
M3	Widest multiple drawn, default `2.0`.	2.0

Alert settings

Setting	What it does	Default
EnableAlerts	Master switch over the alerts, default `true`.	on
EnablePopup	Terminal message, default `true`.	on
EnablePushNotify	Phone message, default `false`.	off
EnableEmail	Mail delivery, default `false`.	off
EnableSound	Clip playback, default `false`.	off
SoundFile	(see inputs panel)	alert.wav

Suitable charts

Stop sizing matters most where range is unstable. The screenshot note picks XAUUSD H1, where the three levels spread visibly. EURUSD H1 keeps them closer together. Higher timeframes widen all six considerably.

Where the method fails

Six lines on a price chart is a lot of clutter.

Anchoring to the close means the levels shift with every bar.

The tightest multiple often sits inside ordinary noise.

Copy the compiled Atr Stop Loss Finder 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 Loss Finder Indicator: Tax loss harvesting on Wikipedia, Standard Deviation Volatility at StockCharts ChartSchool.

Download the Atr Stop Loss Finder Indicator for MT4 and MT5

The zip holds the compiled Atr Stop Loss Finder 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.

FAQ

Why do M1, M2 and M3 all get drawn?

Because the right stop depends on the trade, not on the tool. Seeing one, one and a half and two range units together lets you pick against the actual chart rather than accepting a default.

What does M1 1.0 usually look like?

Close enough to price that ordinary movement can reach it on many instruments. It suits a tight entry with a clear invalidation nearby rather than a position you intend to hold through noise.

Why does AtrPeriod anchor to the close?

Symmetry. Anchoring both sides to the close keeps the long and short levels directly comparable, whereas measuring from the extremes would make the two sides different distances from price.

Does AtrPeriod 14 make the lines move?

Yes. Range changes every bar, so all six levels shift with it. That is the point, since a stop sized for last week’s conditions is the wrong size for today.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Atr Stop Loss Finder Indicator as one input. Always backtest before trading live.