B. Williams Stop Loss indicator is based on Bill Williams’ technique, which Mr. Williams has described in his book titled "Trading Chaos: Applying Expert Techniques to Maximize Your Profits." According to the technique, both stop loss levels are calculated at a higher time-frame using a lower low and a higher high of the previous candles which posses the specifications and adding, subtracting 1 pip accordingly.
int BAR = 200; Scale of candle processing. int minSL = 25; Stop Loss shown if the two required bars are not found. bool show_bar = true; Colors bars used to calculate the Stop Loss levels. show_info = true; Shows orders without a set Stop Loss. color color_BAR = DarkSlateGray; Color of the bar used to calculate Stop Loss. color color_Тек_BAR = Gray; Color of the current higher time-frame bar. color color_SL = Gray; Color of the displayed levels.
The download includes market following stop loss levels, which show the latest calculated points. Stop Loss levels, file name: SL BW It is also possible to view the calculated levels in the history. Stop Loss levels shown calculated in history, file name: SL BW History
How to install your indicator on MT4 platform: 1. Click on Download button above; 2. Save the the file to your computer; 3. Extract both .ex4 files into the following folder : meta traderexpertsindicators; 4. Restart your Metatrader platform; 5. Click “Indicators” button in Metatrader toolbar; 6. Select “Custom”; 7. Search and select "SL BW" or "SL BW History"; 8. Adjust settings or press OK to add the indicator to your selected chart; Note: B. Williams Stop Loss indicator is developed by Vladmir Hlystov and was sent by an AtoZForex follower from Russia, Vitali. AtoZForex does not carry any copyrights over this trading tool. Do you have a reliable indicator or EA? Would you like to share it with our users?