IndicatorATR indicators for MT4

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ATR indicators for MT4

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jeanlouie from another forum added a choice of display styles, for the original single line, arrow lines, and a single arrow at the start of each line.

This strategy was devised by Team Aphid.
It is a medium term, easy to trade system with a good win loss ratio.
It is traded using an indicator that is based on the ATR trailing stop.
Correct money management and risk is an extremely important factor in the success of using this system.
Attached you will also find the BAT arrow.mq4 indicator.

SET UP

1. During backtests, we used MT4 with Alpari data.
You can use any MT4 platform and data feed but due to variations between platforms and data feed.
Traders will get different signals as ATR lines-Prices/times etc on data feeds vary.
2. Use 1 Hour Chart and start with GBPUSD.
3. Put on the indicator BAT arrows.mq4. (Set the indicator parameters to ATR Period 5 and Factor to 4.0)
4. Insert on the chart the Fib retracement tool ( F and dotted lines button on toolbar.)
Once the fib lines are on the chart right,
click on the chart and go to ‘objects list’ and then
highlight the fib tool and click ‘edit’.
Go to the fibo level tab and enter or change the following.

Under:-
Level 0 Description ‘Swing’
Level 0.382 Description ’38.2 - 2 lots’
Level 0.618 ’61.8 - 1 lot’
Level 1 ‘Enter 1 lot’
Level 1.618 ‘161.8’

The Strategy

Entry

Our entry into a trade occurs when price breaks through the BAT line. If the current BAT is blue then price will be above it. As soon as price touches and breaks through the blue BAT we are going SHORT with one entry. It is a good idea to place a pending order at this BAT line to be sure not to miss the initial entry. Once price breaks through the blue BAT line then you will notice a red BAT line starting to form. It will not happen in the current time bar but will start to form at the close of the next time bar. The rules will be the reverse for a long trade.

Alerts

It is important to know when a trade is triggered as we then have to place pending orders. The MT platform has an alert facility in the terminal section. Please set this up to give you an alert as soon as price breaks through.

Simple Bat Trade

I will explain the simple BAT trade with the following example. See the chart 2.
Price was under the red BAT line from 22/12 and on 27/12 price breaks through the red BAT line at 9589.
We now place the fib lines on the chart. We draw the fib line from the trade entry point at 9589 to a recent or significant low. In this example I will draw the fib lines to the low of the bar 26/12 19.00 at 1.9511. See the chart.

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Once the trade has been triggered (we will call this entry ‘trade1’) we place pending orders in the following way. They will be LONG trades.
Pending order for trade 2 at the 61.8 level 1 lot, pending order for 2 contracts (trade 3 and 4 ) at the 38.2 level.
Our stop loss at this stage will be 10 pips below the most recent low (The low we drew the fib to) .
The strategy is to pick up more trades if price retraces to these levels. In the simple BAT trade price does not retrace…..it just zooms through.

See chart 3…it shows that price just continues to go north. Once the price hits the 161.8 level then you can cancel your pending orders.
(If price turns around from the 161.8 level then it is most likely a reversal of trend and we do not want to be adding more trades)

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Once the blue BAT line has started to form and once it passes our original stop we move our stop to the level of the blue BAT line and always keep it there.
The simple BAT exit for this trade is when price breaks through the blue BAT line and will give us entries to go SHORT.
These users thanked the author Banzai for the post (total 5):
Jimmy, AnCapFX, Jedidiah, 太虚一毫, thomdel


Re: ATR indicators for MT4

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Banzai wrote: Tue Feb 11, 2020 1:13 pm This strategy was devised by Team Aphid.
It is a medium term, easy to trade system with a good win loss ratio.
It is traded using an indicator that is based on the ATR trailing stop.
Correct money management and risk is an extremely important factor in the success of using this system.
Attached you will also find the BAT arrow.mq4 indicator.
Just out of curiosity, Can this strategy apply to similar indicators like the NRTR ATR or SuperTrend ATR? as long as the settings are the same... Period = 5 & Multiplier = 4

Re: ATR indicators for MT4

3
Banzai wrote: Tue Feb 11, 2020 1:13 pm
Image

jeanlouie from another forum added a choice of display styles, for the original single line, arrow lines, and a single arrow at the start of each line.

This strategy was devised by Team Aphid.
It is a medium term, easy to trade system with a good win loss ratio.
It is traded using an indicator that is based on the ATR trailing stop.
Correct money management and risk is an extremely important factor in the success of using this system.
Attached you will also find the BAT arrow.mq4 indicator.
Hi, not getting any red arrows or atr resistance lines on the BAT.mq4, have tried recompiling, any suggestions?
ps; didn't really want to quote the whole post above but have never worked out how to quote just a highlight, any suggestions? :)
Attachments

Re: ATR indicators for MT4

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Ogee wrote: Sun Feb 16, 2020 12:15 am Hi, not getting any red arrows or atr resistance lines on the BAT.mq4, have tried recompiling, any suggestions?
ps; didn't really want to quote the whole post above but have never worked out how to quote just a highlight, any suggestions? :)
In the Properties windows, maybe choose another color scheme.
Attachments
These users thanked the author Banzai for the post:
Ogee

Re: ATR indicators for MT4

5
Ogee wrote: Sun Feb 16, 2020 12:15 am
Hi, not getting any red arrows or atr resistance lines on the BAT.mq4, have tried recompiling, any suggestions?
ps; didn't really want to quote the whole post above but have never worked out how to quote just a highlight, any suggestions? :)
Just for information the Bat arrows repaint and far as I know the Bat atr always repainted.
These users thanked the author mrtools for the post (total 2):
Ogee, 太虚一毫


Re: ATR indicators for MT4

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ATR
(on/off button)


I surf around and saw a trader in India uses ATR (14) + MA (5).
Here's the indicator.

Best timeframe: H1

from investopedia:
What Is the Average True Range (ATR)?
The average true range (ATR) is a technical analysis indicator, introduced by market technician J. Welles Wilder Jr. in his book New Concepts in Technical Trading Systems, that measures market volatility by decomposing the entire range of an asset price for that period.1

The true range indicator is taken as the greatest of the following: current high less the current low; the absolute value of the current high less the previous close; and the absolute value of the current low less the previous close. The ATR is then a moving average, generally using 14 days, of the true ranges.

KEY TAKEAWAYS
The average true range (ATR) is a market volatility indicator used in technical analysis.
It is typically derived from the 14-day simple moving average of a series of true range indicators.
The ATR was originally developed for use in commodities markets but has since been applied to all types of securities.
These users thanked the author Banzai for the post:
太虚一毫

Re: ATR indicators for MT4

7
[quote=Banzai post_id=1295482390 time=1657408923 user_id=4934612]


I surf around and saw a trader in India uses ATR (14) + MA (5).
Here's the indicator.

Best timeframe: H1

Blonde posted the RSI + ma indicator
viewtopic.php?p=1295484608#p1295484608
This is such a great code to use as a base for other indicators.
Converting it to ATR is so easy. The attached go a step further and include some of the top level averages. I created the histo so the cross overs were easier to spot.
These users thanked the author Jackson Doh for the post (total 2):
kvak, Banzai

Re: ATR Indicators for MT4

8
ATR Probability Levels indicator (MT4 version)

From Mladen:

Probability levels based on ATR. "Probability" is calculated based on the projected Average True Range and previous period Close.

Defaults are using daily period, but any time frame supported by MetaTrader 5 can be used.

Translated it to mt4.
These users thanked the author mrtools for the post (total 8):
Jedidiah, Jimmy, josi, maroka, simon_n3z, Ksenija, 太虚一毫, RodrigoRT7

Re: ATR Indicators for MT4

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mrtools wrote: Sun Jan 22, 2023 5:45 pm ATR Probability Levels indicator (MT4 version)

From Mladen:

Probability levels based on ATR. "Probability" is calculated based on the projected Average True Range and previous period Close.

Defaults are using daily period, but any time frame supported by MetaTrader 5 can be used.

Translated it to mt4.
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bbookgenius wrote: Wed May 24, 2023 2:45 am Hello everyone, I have added levels 4 (ATR*1.25) and 5 (ATR*1.50) to the ATR Probability Levels indicator.

If you like to trade mean reversion, I suggest taking positions at levels 4 and 5 for optimal entry, since most traders are taught to set their stop at a minimum of 1 ATR from their entry. This gives you an advantage and a higher chance of a reversal due to some positions closing.

My request: Would it be possible to add a history mode to the indicator for easier backtesting?

Thanks in advance.
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hello everything is fine? Is there a possibility to include custom periods in this atr probability? so as stated here, something like 1.5 ATR? if possible with the button and the possibility to customize the fonts? (I think it looks really cool with the Dubai Medium font, for example)

thank you very much!!


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