How to Set Trailing Stop Loss Levels Indicator on MetaTrader 4 Charts

Step 1: Open Navigator Window/Panel on Forex Software

Open the Navigator panel like as shown & illustrated below: Go to 'View' menu (click on it), then select 'Navigator' panel window (click), or From Standard Toolbar click 'Navigator' button or press key board short cut keys 'Ctrl+N'

On Navigator panel, choose 'Indicators', (DoubleClick)

How to Set Trailing Stop Loss Levels Indicator on MetaTrader 4

How to Add Trailing Stop Loss Levels Indicator on the MT4 - MT4 Trailing Stop Loss Levels Indicator

Step 2: Expand the Indicators Menu on the Navigator - Adding Trailing Stop Loss Levels MT4 Indicator

Expand the menu by pressing the magnify(+) tool/button mark initial "+" or doubleclick the 'indicators' menu, after which this button will appear and be shown as (-) & will now display a list just as shown below - choose the Trailing Stop Loss Levels chart indicator from this list of indicators so that to add the Trailing Stop Loss Levels indicator on the chart.

How to Set Trailing Stop Loss Levels Indicator on the Chart - How Do I Use Trailing Stop Loss Levels Indicator?

How to Add Trailing Stop Loss Levels Indicator - From the Above window you as a trader can then place Trailing Stop Loss Levels indicator that you want on the chart

How to Set Custom Trailing Stop Loss Levels Indicator to MT4

If the indicator you want to add is a custom technical indicator - for example if the Trailing Stop Loss Levels indicator you want to add is a custom indicator you'll need to first add this custom Trailing Stop Loss Levels indicator on the MetaTrader 4 software & then compile custom Trailing Stop Loss Levels indicator so that as the newly added Trailing Stop Loss Levels custom indicator pops up on the list of custom indicators on MetaTrader 4 software.

To learn how to install Trailing Stop Loss Levels indicators in MT4 Platform, how to add Trailing Stop Loss Levels indicator panel to MT4 and how to add Trailing Stop Loss Levels custom indicator in the MT4 Software - How to add a custom Trailing Stop Loss Levels indicator in MT4 Platform.

About Trailing Stop Loss Levels Indicator Tutorial PDF

Trailing Stop Loss Levels Forex Technical Analysis Signals

Developed and Created by Tushar Chande.

This is a volatility based trading indicator that is used to estimate levels to set stoploss order levels. The distance at which it calculates the trailing stop level is determined by the market price volatility.

How Do You Use Trailing Stop Loss Levels Indicator?

Levels of the 2 lines, these 2 lines represent:

Long Stop Level - Blue Line
Short Stop Level - Red Line

Long stop level line has got a much wider range in terms of the level where it trails the stoploss order as compared to the short stop level that implements a tight stop loss order.

This indicator is volatility based when it comes to trailing and following the price action. Trailing Stop Levels will trail the above the price in a downward market trend & trails below the price in an upwards trend.

FX Analysis and How to Generate Signals

These will be calculated using the volatility to calculate where to draw the indicator - this is used to determine what levels to set stop loss orders.

Upward FX Trend

In an upwards trend these levels will follow below the price. A trader can either use the short stop level line to set a tight stop for their trading - or a trader can use the long stop level to set a stop loss order level for their trading that is not very tight. As the market price goes higher the trailing stop level also goes higher. An exit signal gets derived/generated when price crosses below these levels.

How Do I Add Trailing Stop Loss Levels Indicator in MetaTrader 4 Charts?

Forex Uptrend

Downwards Trend

In a downward trend the stoploss order levels will trail above the price these 2 levels can be used to set the stoploss levels. As the price drops further these levels will continue to drop lower & follow the price lower. An exit signal gets derived/generated when price crosses above these levels.

Trailing Stop Levels Indicator on Downtrend - How Do You Set Trailing Stop Loss Levels Indicator on MetaTrader 4 Charts?

Forex Downtrend

When price starts and begins to retrace these levels won't retrace but will remain at their levels, this will mean at some point the trade transaction will be closed by trailing stop loss.

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