Hi Guys,
I would like to use a trailing stop based on 3 x the 10-day simple moving average (SMA) on my charts on MT4. Whilst it is straightforward to add the SMA itself, i can figure out how to show a line that is 3 times greater.
Does anyone know how to do this? Thank you!
would a 30SMA not be 3x the size of a 10SMA? so just add both to the chosen TF?
The 30 SMA uses the previous 30 days to work out the average whereas the 10 day SMA use the previous 10 days. Its not as simple as that unfortunately!! thanks for replying though.
Plot it down in a caluclation exactly what you want and what the answer should be and i’m sure this can be done - i’m not fully understanding the question.
What comes to mind is sticking with the 10SMA and using a Standard Deviation overlay to show extentsions on the actual 10SMA (a tool already in most trading platforms) - essentially shifting the 10SMA by a factor of 3.
Here you have the 10SMA in yellow, and both the upper and lower same 10SMA by a deviation of 0.3%
Thanks, that’s what i’m looking for. I will have a look at the standard deviation. Thanks for your help
