The Chande kroll Stop Metatrader 4 indicator is a popular trend trading indicator that works for scalping, day trading and swing trading.
The Chande kroll Stop is built on the Average True Range (ATR) indicator and therefore measures the volatility of the financial instrument under scrutiny.
The indicator simply parades two lines (red & blue) on the chart that can be used as viable information for determining when to go long or short on the currency pair or MT4 symbol of interest.
- In order to fully understand how the market works and also derive appropriate trading insight, more attention should be given to the crossover technique displayed by the blue and red signal lines of the Chande kroll Stop trend
- The start of a new market trend is heralded by the crossings of the indicator’s signal lines in a new direction.
- Traders can easily spot opportunities to initiate trades in the direction of price action when using the Chande kroll Stop indicator (i.e. widening of the red & blue lines shows increasing market strength for the current trend).
- The indicator can detect long- and short-term trend signals, making it a worthy candidate for use on all timeframe charts.
Feel free to explore the Chande kroll Stop trend indicator’s different parameters and settings to create your own personalized indicator setup.
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Chande kroll Stop Forex Indicator Chart (EUR/CAD M30 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Chande kroll Stop MT4 Indicator
Buy Signal: Go long when the Chande kroll Stop MT4 indicator prints a red line that crosses below the blue line in a down upward manner (with price aligning above the lines). The silver histograms on the MACD also get printed above the zero-horizontal level.
Sell Signal: Go short when the Chande kroll Stop indicator prints a red line that crosses above the blue line in an up downward fashion (with price aligning below both lines). The silver histograms on the MACD indicator also get printed below the zero-horizontal level.
Exit buy trade: Close all buy orders if while a bullish trend is running, the red line of the Chande kroll Stop indicator intersects its blue line. Else, the MACD indicator pops a silver histogram below the 0.00 level.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the red line of the Chande kroll indicator intersects its blue line. Else, the MACD indicator pops a silver histogram above the 0.00 level.
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Length, atr period, kv.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Trend, Stop Loss
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.