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

Step 1: Open Navigator Window on Forex Trading Platform

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

On Navigator window, choose 'Indicators', (Double-Click)

How to Add Trailing Stop Loss Levels Indicator on MetaTrader 4 - 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 clicking the expand button marker (+) or double click the 'indicators' menu, after this the button will appear as (-) and will now display a list as shown below - select the Trailing Stop Loss Levels forex chart indicator from this list of forex indicators so as to add the Trailing Stop Loss Levels indicator on the forex chart.

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

How to Add Custom Trailing Stop Loss Levels Indicator to MT4

If the technical indicator you want to add is a custom indicator - for example if the Trailing Stop Loss Levels technical indicator you want to add is a custom indicator you will need to first add this custom Trailing Stop Loss Levels indicator on the MT4 platform & then compile custom Trailing Stop Loss Levels indicator so that the newly added Trailing Stop Loss Levels custom indicator pops up on the list of custom indicators in MetaTrader 4 software.

To learn how to install Trailing Stop Loss Levels indicators on MT4, how to add Trailing Stop Loss Levels indicator window to MT4 and how to add Trailing Stop Loss Levels custom indicator in MT4 - How to add a custom Trailing Stop Loss Levels forex indicator in MetaTrader 4.

About Trailing Stop Loss Levels Technical Indicator Tutorial PDF

Trailing Stop Loss Levels Forex Technical Analysis Signals

Created by Tushar Chande.

This is a volatility based indicator that is used to estimate levels to set stoploss levels. The distance at which it estimates the trailing stop level is determined based on market volatility.

The Levels of the 2 lines, these 2 lines represent:

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

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

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 and trails below the price in an upward market trend.

FX Technical Analysis & How to Generate Signals

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

Upward FX Trading Trend

In an upward trend these levels will follow below the currency price. The trader can use either the short stop level line to set up a tight stop or the long stop level to set a stop loss that is not very tight. As the price goes higher the trailing level also goes higher. An exit signal is generated when price crosses below these levels.

Forex Uptrend

Downward Forex Trading Trend

In a downwards trend the stop loss levels will trail above the currency price this two levels can be used to set these levels. As the price drops further these levels will continue to drop lower and follow the price lower. An exit signal is generated when price crosses above these levels.

Forex Downtrend

When price starts to retrace these levels will not retrace but will remain at their levels, this will mean at some point the trade will be closed by the trailing stop loss.