How to Add MT5 ATR Indicator on MT5 Charts
Step 1: Open MT5 Software Navigator Window
Open MT5 Navigator panel as explained on the MT5 example below: Go to 'View' menu (click), then choose the 'Navigator' panel (click), or From Standard Tool-Bar click the 'Navigator' button or press keyboard MT5 short-cut keys 'Ctrl+N'
On MT5 Navigator window, choose "Indicators", by Double Clicking
How Do I Use MT5 ATR Indicator in MetaTrader 5?
How to Add ATR MT5 Indicator
Expand the menu by clicking the expand button (+) or double click the 'indicators' menu, after this the button will be displayed as (-) and will now display MT5 indicators list as explained on the MT5 example below - select the ATR indicator from this list of MT5 indicators so that you can add the ATR MT5 indicator in the MT5 chart.
How Do I Use MT5 ATR Indicator in MetaTrader 5?
How to Place Custom ATR Indicator on MT5 and How to Install ATR Indicator MT5
If the MT5 indicator that you want to add on the MT5 charts is a custom MT5 indicator - for example if the ATR indicator that you want to add is a custom MT5 indicator you will need to first add this custom ATR MT5 indicator in the MT5 platform & then compile custom ATR indicator so that the newly added ATR MT5 custom indicator pops up on the list of custom indicators on the MetaTrader 5 platform.
To learn how to add ATR indicators on MT5 software - how do you add ATR indicator window to MT5 software? - how do you add ATR custom indicator on MT5 software? - How to add custom ATR custom indicator on MT5.
How Do You Use ATR MT5 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 not determine the direction of the market trend.
How Do I Add MetaTrader 5 ATR Indicator on MT5 Charts
How Do I Use MT5 ATR Indicator on MetaTrader 5?
High ATR indicator values signal market bottoms after a sell off.
How Do I Use MT5 ATR Indicator on MetaTrader 5?
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 and 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 market trend change;
Measure of trend momentum - The lower the ATR indicator value - the weaker the market trend move.
How Do You Use MT5 ATR Indicator on MT5?
How Do You Use MT5 ATR Indicator in MetaTrader 5?
