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ATR pips indicator

PostPosted: Mon Jul 04, 2011 4:05 am
by Alexander.Gettinger
Oscillator is a port of MT4 indicator (http://www.forexfactory.com/showthread.php?p=2216448).

ATR_pips_indicator.png


Download:
ATR_pips_Indicator.lua
(1.57 KiB) Downloaded 6191 times

Will give simple audio alert when ATR meets a determined level (condition)
ATR_pips_Indicator with Alert.lua
(10.47 KiB) Downloaded 530 times

Tick ATR_pips_Indicator.lua
(3.84 KiB) Downloaded 297 times

Tick ATR_pips_Indicator with Alert.lua
(10.33 KiB) Downloaded 201 times

Tick ATR is available here.
viewtopic.php?f=17&t=34094&p=94374&hilit=Tick+ATR#p94374

Re: ATR pips indicator

PostPosted: Tue Aug 09, 2011 1:46 pm
by porschefan
Alexander.Gettinger wrote:Oscillator is a port of MT4 indicator (http://www.forexfactory.com/showthread.php?p=2216448).

ATR_pips_indicator.png


Download:
ATR_pips_Indicator.lua



Hello mr Gettinger
You can say what makes this indicator?

Thanks

Re: ATR pips indicator

PostPosted: Thu Aug 11, 2011 10:56 pm
by sunshine
The indicator displays the current value of the ATR indicator multiplied by the value set in indicator parameters, in pips.
Please read this article about usage of the ATR indicator:
Average True Range (ATR)

Re: ATR pips indicator

PostPosted: Sun Aug 14, 2011 10:30 am
by porschefan
thank you

Re: ATR pips indicator

PostPosted: Thu Sep 22, 2011 2:45 pm
by JPNWV7
Alexander.Gettinger wrote:Oscillator is a port of MT4 indicator (http://www.forexfactory.com/showthread.php?p=2216448).

ATR_pips_indicator.png


Download:
ATR_pips_Indicator.lua




Just trying to figure out how to read this indicator. On one of my charts it says

70% of ATR(13) : 41 pips


What is the 41 pips? Profit? Stop/Loss?

I'm New to Forex Trading Just trying to learn.


Thanks

Re: ATR pips indicator

PostPosted: Mon Sep 26, 2011 7:11 am
by sunshine
JPNWV7 wrote:Just trying to figure out how to read this indicator. On one of my charts it says

70% of ATR(13) : 41 pips

What is the 41 pips? Profit? Stop/Loss?

I'm New to Forex Trading Just trying to learn.


41 pips is 70% from the current ATR value. ATR is the Average True Range indicator which measures volatility. The ATR indicator is included in the standard set of Marketscope indicators.

How this value can be used (a few popular interpretations):

  • To determine stop and limit levels.
    Use the indicator value to determine the distance for your stop and limit levels. Such stops/limits will take into account the current market volatility because they will be based on the ATR indicator. Generally, a two times ATR value is used. That is, you should set the Multiplier parameter of the indicator to 2 and use the received value as the distance for your stop order.
    Note that when the volatility is high, wider stops should be used in order to avoid execution of stops by a random market movement. When the volatility is low, tighter stops should be used in order to have better protection for trades. So the value of Multiplier should depend on market volatility.
  • To determine the best position to buy/sell based on Support/Resistance levels. The ATR indicator can be used as a filter when trading with support/resistance levels. In this case you should:
    1. Determine the support and resistance levels. For example, the resistance level is at 1.4000.
    2. Then, watch for price movement. Once the price hits the resistance level, buy at 20% ATR above the line. The idea is to do not buy at the resistance level but above the level to avoid entering on false hitting of the level.
    For example, when the market hits the resistance level, the current ATR value for EUR/USD is 0.0110 (110 pips). You should enter the market at 20% ATR above the line:
    20% of ATR(14) = 110 pips * 0.2 = 22 pips
    So, buy at 1.4022 level (1.4022 = 1.4000 (resistance level) + 22 pips)
    Note that for this example you should set the Multiplier parameter of the indicator to 0.2.
See also Average True Range

Hope this will help.

Re: ATR pips indicator

PostPosted: Mon Sep 26, 2011 5:58 pm
by JPNWV7
Thanks for the info, yes it helped. Thanks

Re: ATR pips indicator

PostPosted: Thu Feb 09, 2012 7:04 pm
by rose123
i request mtf mcp atr pips indicator as mtf mcp gmmacd incidcator

viewtopic.php?f=17&t=12958

Re: ATR pips indicator

PostPosted: Fri Feb 10, 2012 11:19 am
by TheEdge
Hello,

Can some one tell me how to position this in a different location on the chart, I have a PIP spread indicator in the top right corner and this indicator also in the same location. I would like to have it positioned at the top but to the left of the PIP indicator.

Re: ATR pips indicator

PostPosted: Fri Feb 10, 2012 3:56 pm
by Apprentice