PIP-F ATR Stop : Request Assistance and /or Advice
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Hey guys,
I've had access to a custom indicator called PIP-F ATR Stop for quite a few years now and use it a fair bit for my trading on MT4. The problem is, I don't have the source code for the MT4 version, and now I would like to use it on either MT5 or TradingView. Obviously I would need the source code to have it converted. I have done numerous searches over the years looking for various versions of this indicator and I can't seem to find any. It may be just the case I'm looking in the wrong spots, or it is known by another name. I have read that it is not possible to plot the actual ATR on a price chart, so this is where I may be getting a little confused, just by the actual title of the indicator.
I have attached the actual indicator for anyone to access. I have also attached a screenshot of the basic settings where it is just dropped on a price chart to show it being used as a possible trail stop feature. You will notice the default setting of 1.4 in the Number of ATRs input field and 0 in the bottom MTF Time Frame field. The attached screenshot of the price chart with the single red or blue line is just using these settings.
I would much prefer to add two ATR Stops to my chart and then use the MTF Time Frame feature to give me an idea of the main trend. So you will see another attached screenshot of a 4hr chart with 2x green and 2x red lines either side of price. You can see the settings in that screenshot of the Number of ATRs has been changed. On one I use 0.75 and on the other I use 1.0. You will also notice that the bottom MTF Time Frame field now has 10080 in it, which is the number of minutes in a week. Therefore I'm looking at taking trades on a 4hr chart which are in sync with a weekly trend (according to the indicators). There is also one other screenshot showing when the green and red lines are out of sync and each one surrounds price, which would indicate a sideways type market.
So hopefully that gives you an idea of what this indicator does and how it can be used on a higher time frame. I am looking for something similar on MT5, or even a source code for it on either platform would be great. I'm thinking this indicator may be called something completely different, or it is based on a completely different base indicator, hence my problems in finding other versions. So any help or assistance would be appreciated. Thanks, and cheers. Jim