The Stop Loss MT4 forex indicator draws two stop-loss lines on the Metatrader 4 chart, one red and one blue line.
When trading a buy trade position, place a stop loss 1-3 pips below the blue stop loss line.
When trading a sell trade position, place a stop loss 1-3 pips above the red stop loss line.
Trail your stop loss up (for long trades) or down (for short trades) according to the position of stop loss line.
The EUR/USD H1 chart below displays the Stop Loss forex indicator in action.
Basic Trading Signals
No signals from this indicator.
Use together with a real forex system to generate reliable buy and sell trading signals.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (Bar, minSL, show_bar, show_info) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Stop Loss Placement
Copy and paste the sl-to-bar-indicator.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)