How Do You Use ATR MT4 Technical Indicator?
Average True Range Indicator
Created by J. Welles Wilder
ATR indicator is a measure of forex volatility - ATR indicator measures the range of price movement for a particular price period. The ATR indicator is a directionless indicator & it does't determine the direction of the market trend.
How to Add MT4 ATR Indicator in MetaTrader 4 Charts
How Do You Use MT4 ATR Indicator?
High ATR indicator values signal market bottoms after a sell off.
How Do You Use MT4 ATR Indicator?
Low ATR indicator values signal extended periods of range sideways price movement - Forex Range, such as those found at market tops & price consolidation periods. Low ATR indicator values are typical for periods of sideways movement of long duration which happen at the top of the market and during a consolidation.
Calculation of ATR Indicator
ATR indicator is calculated using the following:
- Difference between the current price high & the current price low
- Difference between previous closing price & the current price high
- Difference between previous closing price and the current price low
The final average is calculated by adding these values & calculating the average.
How to Generate Buy & Sell Signals
ATR indicator can be interpreted using the same principles as other volatility indicators.
Possible trend change signal - The higher the ATR indicator value - the higher the probability of a trend change;
Measure of trend momentum - The lower the ATR indicator value - the weaker the market trend movement.
How Do I Use MetaTrader 4 ATR Indicator?
How to Add MT4 ATR Indicator in MT4 Charts
Step 1: Open MT4 Software Navigator Window
Open MetaTrader 4 Navigator panel as shown below: Go to 'View' menu (click), then select 'Navigator' panel (click), or From Standard Tool Bar click 'Navigator' button or press keyboard MetaTrader 4 short-cut keys 'Ctrl+N'
On MetaTrader 4 Navigator window, choose "Indicators", by DoubleClick
How Do You Use MT4 ATR Indicator?
How to Add ATR MT4 Indicator
Expand the menu by clicking the expand button (+) or double click the 'indicators' menu, after this the button will appear as (-) and it will then display a list of MT4 indicators as shown below - choose the ATR indicator from this list of MT4 indicators so that you can add the ATR MT4 indicator on the MT4 chart.
How Do I Use MetaTrader 4 ATR Indicator?
How Install and Add Custom ATR Indicator on MT4?
If the MT4 indicator that you want to add on the MT4 charts is a custom MetaTrader 4 indicator - for example if the ATR indicator that you want to add is a custom MT4 indicator you will need to first add this custom ATR MT4 indicator on the MT4 platform and then compile this custom ATR indicator so that this newly added ATR MT4 custom indicator appears on the custom indicators list in the MT4.
To learn how to add ATR indicators on MT4 software - how do you add ATR indicator window to MT4 platform? - how do you add ATR custom indicator on MetaTrader 4 platform? - How to add a custom ATR custom indicator on MT4.
How Do I Use MetaTrader 4 ATR Indicator?
