No Nonsense ATR Mod

[Wobstix]

Good day to you all.

I have been working on my algorithm and use an indicator to manually back test my ideas.
The indicator is No Nonsense ATR
I find it quite good because wherever I click on the chart, it draws TP and SL lines to where each would be hit.
It works very well except that it calculates the TP & SL based on the ATR only.
The multiple of ATR can be changed in the settings as well as other various parameters.
I have contacted the developers of the indicator and asked them if they would be willing to add the option to include fixed SL & TP
The response was good but they are not prepared to do it.
They did say however, that the code is open source and I can try to do it myself.
This is a complicated indicator and as much as I pride myself in being able to make small changes to some indicators,
This is way out of my league.
Please will somebody have a look at it with a view of adding the option of fixed SL & TP.
I have included the indicator as well as a link to their site where a good description of the indicator can be found
I truly hope this can be done because I believe it will help not only me but, so many of us here.
Thank you in advance.

https://nnfxalgotester.com/help/no-nonsense-atr/

[SteveHopwood]

Good day to you all.

I have been working on my algorithm and use an indicator to manually back test my ideas.
The indicator is No Nonsense ATR
I find it quite good because wherever I click on the chart, it draws TP and SL lines to where each would be hit.
It works very well except that it calculates the TP & SL based on the ATR only.
The multiple of ATR can be changed in the settings as well as other various parameters.
I have contacted the developers of the indicator and asked them if they would be willing to add the option to include fixed SL & TP
The response was good but they are not prepared to do it.
They did say however, that the code is open source and I can try to do it myself.
This is a complicated indicator and as much as I pride myself in being able to make small changes to some indicators,
This is way out of my league.
Please will somebody have a look at it with a view of adding the option of fixed SL & TP.
I have included the indicator as well as a link to their site where a good description of the indicator can be found
I truly hope this can be done because I believe it will help not only me but, so many of us here.
Thank you in advance.

https://nnfxalgotester.com/help/no-nonsense-atr/

We all know that indi code merely baffles me and this is no different so I cannot help.

You appear to want an indi that does one thingy to do something different. Sounds daft to me. Why not ask if someone can code what you actually want to happen?

[SteveHopwood]

I just realised that my previous reply could easily be taken as criticism. That was not what I intended, so sorry if it came across like that.

Why not post what you are after here? I can code it if it is something simple like Peaky or my position monitoring indis. If no, then maybe one of the genius coders here might step in. Give it a try and see.

[Wobstix]

Thank you for agreeing to look at my proposal.
And…… you are right, It is not necessary to butcher a good working indicator in order to get what is needed.
Altho’ a few good pieces of coding might be found in the indicator I posted.
First a description of how I see the indicator I have in mind would be used.
For the purposes of this description, I have named the proposed indicator the SLTP indicator. I really don’t mind what you call it.
Assume I have placed whatever indicators I want on my chart.
Assume also that I have set the SLTP indicator with a SL of 4 pips and a TP of 9 pips
Scrolling back, I see a possible entry point. Could it have been a winning trade ? Lets see.
Using my mouse I select the candle where I would place my trade and click once for a buy trade.
The indicator draws a SL line 4 pips away from the point of entry to wherever it touches a candle going forward.
It also draws a TP line 9 pips away from the point of entry to wherever it touches a candle going forward.
I can immediately see where my entry would be as well as where my SL and TP would be reached.
If it is a sell trade I am wanting, I simply click the mouse again and it changes the SL & TP lines.
Please see the attached Pics.
Scrolling back or forward, I select entry points at will and see whether a good trade could have been made.

These are the inputs I believe would be required for this indicator to work well.
StopLoss Pips
TaleProfit Pips
Estimated Spread (0 if not required)
Estimated Slippage (0 if not required)
Entry point line & text color
StopLoss Line & text color
TakeProfit Line & text color

Thank you in advance. I'm sure this indicator would be good for many of us
Rob

[SteveHopwood]

It does look like a useful tool.

Coding this would involve me in coming to grips with the OnChartEvent function and that could take a long time. I will put a request to indi coders in my wrup first, to see if someone can code it more easily.

[Wobstix]

Thank you sooooo much

[lemur6666]

Try enclosed for time being.
9pip fixed TP & 4pip fixed SL.

Cheers,
Max

[billv]

Good day to you all.

I have been working on my algorithm and use an indicator to manually back test my ideas.
The indicator is No Nonsense ATR
It works very well except that it calculates the TP & SL based on the ATR only.
The multiple of ATR can be changed in the settings as well as other various parameters.
I have contacted the developers of the indicator and asked them if they would be willing to add the option to include fixed SL & TP

Why change it?
Are you trading only 1 currency pair?
IMHO the ATR based SL and TP is a better option.

Even if we traded 1 single currency pair the fixed option is not going to be ideal,
because where we place our TP+SL is often determined by the setup itself and not by the currency pair.

[Wobstix]

It is working perfectly.
Thank you so much.
If I want to use fixed SL & TP then I use this.
If I want ATR based SL & TP then I use the original.
Thank you once again.

[lemur6666]

You're welcome !