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;
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.
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