Accurate ATR Stop Loss Distance — Risk Management Tool

Accurate ATR Stop Loss Distance — Risk Management Tool

This indicator calculates an accurate Stop Loss distance in pips using the Average True Range (ATR) multiplied by a user-defined multiplier.
It automatically detects the correct pip size based on the instrument type (Forex, Crypto, Stocks, Indices, Futures), adjusting for 2-, 3-, 4-, or 5-digit quotes — ensuring professional-grade precision that matches institutional ATR-based risk systems.

📊 Features:

Uses ATR × Multiplier to determine precise SL distance in pips.

Automatically adjusts pip value depending on the asset type (handles 5-digit Forex brokers).

Clean and minimal design — displays only one info box in the top-right corner.

Fully customizable text and background colors.

Includes alert condition for automated SL updates.

⚙️ How to use:

Set your preferred ATR period and multiplier.

The indicator instantly displays your Stop Loss distance in pips at the top-right of the chart.

Combine with your entry strategy to calculate lot size or risk per trade.

💡 Ideal for traders who want consistent, objective SL distances derived from volatility rather than arbitrary points or emotions.

Note: Educational and informational tool only. Does not execute trades or give financial advice.