StopLoss = Low - 2 * ATR(5, Close-2*ATR(5), and High - 3*ATR(5)
The ATR Trailing Stop indicator for Metatrader contains one line displayed at the price chart. This line shows the price levels of the break-even area where stop loss can be set to maximize the profit from your trading activity.
Usually, to set a stop loss, the professional traders use the volatility level based on the ATR indicator. So, when the price is rising or falling towards the target level, the technical indicator will draw uptrend or downtrend pointing to the price level, which is supposed to be chosen as a stop loss. This indicator is calculated by the standard coefficient of volatility, which is equal to 2.5 and optimal to the most financial markets ( i.e. the stop loss level is going to be at the distance of 2.5*ATR).
This indicator is an optional one and should be used in manual trading.
ATRperiod = 5