ColorXATR – indicator for MetaTrader 5

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Smoothed ATR, recalculated as price chart points. It uses color to show whether the trend strengthens or weakens. The red color corresponds to the trend strengthening, the yellow color corresponds to the trend weakening.

Indicator input parameters:

//+-----------------------------------+
//|  INDICATOR INPUT PARAMETERS       |
//+-----------------------------------+
input int ATRPeriod=12; //ATR period
input Smooth_Method XMA_Method=MODE_JJMA; //smoothing method
input int XLength=5; //smoothing depth                    
input int XPhase=15; //smoothing parameter, for JJMA it varies within the range -100 ... +100 and impacts the quality of the intermediate process of smoothing;
// for VIDIA it is a CMO period, for AMA it is a slow moving average period
input int Shift=0; // horizontal shift of the indicator in bars 

You can change averaging algorithms out of ten possible options in the indicator:

  1. SMA – simple moving average;
  2. EMA – exponential moving average;
  3. SMMA – smoothed moving average;
  4. LWMA – linear weighted moving average;
  5. JJMA – adaptive JMA smoothing;
  6. JurX – ultralinear smoothing;
  7. ParMA – parabolic smoothing;
  8. T3 – Tillson’s multiple exponential smoothing;
  9. VIDYA – smoothing using the algorithm developed by Tushar Chande;
  10. AMA – smoothing using Perry Kaufman’s algorithm.

It should be noted that Phase parameters for different smoothing algorithms have completely different meaning. For JMA, it is an external Phase variable that varies from -100 to +100. For T3, it is a smoothing coefficient multiplied by 100 for better visualization. For VIDYA, it is a CMO oscillator period. And for AMA, it is a slow EMA period. These parameters do not affect the smoothing in other algorithms. For AMA, the fast EMA period is a fixed value and is equal to 2 by default. The powering coefficient for AMA is also fixed at 2.

The indicator uses the SmoothAlgorithms.mqh library classes (to be copied to the terminal_data_directory\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.

MT5 Indicators – Download Instructions

ColorXATR – indicator for MetaTrader 5 is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.

ColorXATR – 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.

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How to install ColorXATR – indicator for MetaTrader 5.mq5?

  • Download ColorXATR – indicator for MetaTrader 5.mq5
  • Copy ColorXATR – 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 ColorXATR – indicator for MetaTrader 5.mq5
  • Attach to a chart
  • Modify settings or press ok
  • Indicator ColorXATR – indicator for MetaTrader 5.mq4 is available on your Chart

How to remove ColorXATR – 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

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