This indicator helps you to set your stoploss levels by using ATR. Traders often use atr values in order to calculate their stoploss levels. This indicator does the calculation for you and draw two tiny lines without messing up the chart so that you can easily see your stoploss levels and get an idea about the volatility and risk amount as well. One line is below the last candle as a long trade stop loss level and the other one is above the last candle as a short trade stop loss level. Calculation is simple: For short trades, 2 times ATR added to last price; For long trades, 2 times ATR subtracted from last price. You can change ATR length, ATR multiplier and the line length.
Bro, I really love your indicator. It really helps my stop loss strategy. Is it possible to make the line colors adjustable because of background colors. Thanks