ATR Channels create price movement channels considering ATR (Average True Range) technical indicator. The indicator clearly shows trend acceleration and retardation moments and also overbought and oversold areas from the average true range perspective.
The presented variant of this indicator allows to select the smoothing algorithm for the moving average out of ten possible variants:
- SMA – simple moving average;
- EMA – exponential moving average;
- SMMA – smoothed moving average;
- LWMA – linear weighted moving average;
- JJMA – JMA adaptive average;
- JurX – ultralinear smoothing;
- ParMA – parabolic smoothing;
- T3 – Tillson’s multiple exponential smoothing;
- VIDYA – smoothing with the use of Tushar Chande’s algorithm;
- AMA – smoothing with the use of Perry Kaufman’s algorithm.
It should be noted that Phase parameter has completely different meaning for different smoothing algorithms.
- For JMA it is an external Phase variable changing from -100 to +100.
- For T3 it is a smoothing ratio multiplied by 100 for better visualization;
- For VIDYA it is a CMO period, for AMA it is a slow EMA period;
- For AMA fast EMA period is a fixed value and is equal to 2 by default. The ratio of raising to the power is also equal to 2 for AMA.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.
This indicator was first implemented in MQL4 and published in Code Base at mql4.com 08.08.2006.
MT5 Indicators – Download Instructions
ATR Channels – indicator for MetaTrader 5 is a Metatrader 5 (MT5) indicator and the essence of this technical indicator is to transform the accumulated history data.
ATR Channels – indicator for MetaTrader 5 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly. Click here for MT5 Strategies
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How to install ATR Channels – indicator for MetaTrader 5.mq5 to your MetaTrader 5 Chart?
- Download ATR Channels – indicator for MetaTrader 5.mq5
- Copy ATR Channels – indicator for MetaTrader 5.mq5 to your Metatrader 5 Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your mt5 indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on ATR Channels – indicator for MetaTrader 5.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator ATR Channels – indicator for MetaTrader 5.mq4 is available on your Chart
How to remove ATR Channels – indicator for MetaTrader 5.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader 5 Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
ATR Channels – indicator for MetaTrader 5 (Free Download)
Click here below to download: