Topic: ATR Trailer
expert advisor is a simple EA that trades without any particular entry rules but rather relies on the trailing stop mechanism to capture huge market movements. The trailing stop is based on the ATR (Average True Range) indicator. The direction of its initial position is controlled via the input parameter; each next direction is opposite to the previous one. When the trailing stop is hit, the position is closed automatically and a new one is opened. With the default ATR settings (period = 24 and multiplier = 3) and the optimal timeframe (H1), the trailing stop is set to cover up 99.73% of the daily fluctuation, considering the normal distribution of the price change (which, of course, isn't always so in real market).