## ATR pips indicator

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### ATR pips indicator

Oscillator is a port of MT4 indicator (http://www.forexfactory.com/showthread.php?p=2216448).

ATR_pips_Indicator.lua

Will give simple audio alert when ATR meets a determined level (condition)

Tick ATR_pips_Indicator.lua

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

The indicator was revised and updated
Alexander.Gettinger
FXCodeBase: Confirmed User

Posts: 3113
Joined: Wed Mar 31, 2010 9:40 pm
Location: Russia, Omsk

### Re: ATR pips indicator

Alexander.Gettinger wrote:Oscillator is a port of MT4 indicator (http://www.forexfactory.com/showthread.php?p=2216448).

ATR_pips_indicator.png

ATR_pips_Indicator.lua

Hello mr Gettinger
You can say what makes this indicator?

Thanks
porschefan

Posts: 5
Joined: Tue Aug 02, 2011 2:12 pm

### Re: ATR pips indicator

The indicator displays the current value of the ATR indicator multiplied by the value set in indicator parameters, in pips.
Average True Range (ATR)
sunshine

### Re: ATR pips indicator

thank you
porschefan

Posts: 5
Joined: Tue Aug 02, 2011 2:12 pm

### Re: ATR pips indicator

Alexander.Gettinger wrote:Oscillator is a port of MT4 indicator (http://www.forexfactory.com/showthread.php?p=2216448).

ATR_pips_indicator.png

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
JPNWV7

Posts: 17
Joined: Wed Sep 21, 2011 5:56 pm

### Re: ATR pips indicator

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.

Hope this will help.
sunshine

### Re: ATR pips indicator

Thanks for the info, yes it helped. Thanks
JPNWV7

Posts: 17
Joined: Wed Sep 21, 2011 5:56 pm

### Re: ATR pips indicator

i request mtf mcp atr pips indicator as mtf mcp gmmacd incidcator

viewtopic.php?f=17&t=12958

rose123
FXCodeBase: Initiate

Posts: 119
Joined: Mon Oct 17, 2011 6:01 am

### Re: ATR pips indicator

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.
TheEdge

Posts: 28
Joined: Fri Nov 25, 2011 3:54 am

### Re: ATR pips indicator

Apprentice
FXCodeBase: Confirmed User

Posts: 18515
Joined: Thu Dec 31, 2009 11:59 am
Location: Zagreb, Croatia

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