Comments for https://ctrader.com/products/2079

The bot is for analysis; it checks the last 20 days by default and calculates various Stop Loss (SL) levels based on the daily volatility derived from the closing price in that timeframe.

The spreads will depend on the broker you use. However, performing the analysis over that 20-day framework gives it sufficient margin to provide a more standardized value.

In my personal case, I enter trades on the 15-minute chart using SL4 for swing entries held for 7 to 22 days, which gives me enough margin to set a wide (or 'loose') Stop Loss.

If you need other timeframes, say the 1-minute chart, the recommendation is to use SL1 and SL2.

The indicator is dynamic. You can also observe that the SL-pips value represents the daily volatility range, and the AVG-pips value is the range calculated over those 20 days. The recommended projections for stop loss are SL1, SL2, SL3, and SL4.

You can assist your entries with the daily change. If you see Bull above 55%, you can assume that the direction is changing toward buying (long positions), and with greater certainty when it is at 65%. Additionally, Last is the current daily change, and AVG is the average of those 20 days. You can check my X (Twitter) account, @vonwarwick1980, where I usually post entries using these indicators for easy consultation.