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B. Williams Stop Loss indicator

May 03, 2018
B. Williams Stop Loss indicator

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.

Variables

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 Look

The download includes the market following stop-loss levels, which show the latest calculated points. It is also possible to view the calculated levels in history.

How to Install B. Williams Stop Loss indicator

How to install your indicator on the MT4 platform:

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1. Click on Download button below;

2. Save the file to your computer;

3. Extract both .ex4 files into the following folder: meta traderexpertsindicators;

4. Restart your Metatrader platform;

5. Click the “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 AtoZ Markets follower from Russia, Vitali. AtoZ Markets does not carry any copyrights over this trading tool.

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Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.

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