In Strat's 'standard' plan, the trade has to be split into three portions. Once the first target is reached, one third of the position is closed and the remaining lots are moved to breakeven.
The first target is either 100 pips or ATR(5) whichever is less.
Attached below is an indicator for MT4 that shows you the Average True Range of whatever chart it is placed on. You can find the ATR of any time frame and this value changes according to the time frame of the chart - you can change between daily and weekly to find the ATR of the Worker and Boss and so on. The original script was edited by one of the members who added in the ability to change font color, size, and style so that anyone can change the font characteristics accordingly based on their background colors.
Place the file in (Windows) C:\Program Files > YOUR METATRADER FOLDER > experts > indicators
Re-open MT4, open the Navigator, find Custom Indicators, find the indicator and drag and drop it onto whatever chart(s) you want it on.
Set periods as 5 (default), multiplier as 1.0 (default), and the other inputs edit position and look of the indicator's text on the chart.
Click here to download the indicator for MT4 "Atr in Pips - kc8flq"
