ATR MT4 Indicator by PipTick

ATR MT4 Indicator by PipTick

The ATR indicator is a helpful tool for measuring the range of bars. It quickly and easily helps evaluate the ATR's current spread (range), which is especially useful for VSA traders. The indicator for classifying the range of bars (candles) uses the moving average and its multiples. Accordingly, the area where the volume is located (relative to the moving average) is labeled as ultra-low, low, average, high, very high, or ultra-high. Our ATR indicator is rendered as a histogram.

This indicator can calculate the moving average by four methods:

• SMA - Simple Moving Average
• SMMA - Smoothed Moving Average
• EMA - Exponential Moving Average
• LWMA - Linear Weighted Moving Average

Interpretation

By default, there are six zones that the user can change. Then, depending on which zone corresponds to the ATR, the histogram bar is colored by the appropriate color. This way, you can easily recognize how high the ATR (spread/range) is compared to the previous bars.

• Ultra Low ATR zone - gray
• Low ATR zone - white
• Average ATR zone - aqua
• High ATR zone - deep sky blue
• Very High ATR zone - royal blue
• Ultra High ATR zone - blue

Main Features

• A simple classification of a range of bars
• Several optional calculation methods
• User selectable ranges of the zones
• Works on every timeframe (M1, M5, M15, M30, H1, H4, D1, W1, and MN)
• A very fast and reliable indicator
• Customizable parameters (colors, line thickness, MA period, etc.)