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ATR Volatility

The ATR Volatility Indicator for MT5 is a Forex trading tool that measures market volatility using histogram bars. It is also free to download and use, making it a great choice for both novice and experienced traders alike.

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Description

The ATR (Average True Range) Volatility indicator is a technical trading tool designed to measure the market volatility on the MetaTrader 5 platform. It paints histogram bars of different colors to depict the volatility conditions in the market. The green histogram depicts bullish momentum, the red bar indicates low market momentum, while the dodger blue bar indicates bearish momentum.

The histogram bars assist Forex traders in making informed trading decisions on when to buy/sell and exit a trade position. For instance, a trader might consider selling an instrument if price action suggests a trend reversal, and the indicator also prints dodger blue (bearish momentum) histogram bars. Conversely, a Forex trader may consider exiting a position if the prints the red bars when the price is at a support or resistance zone.

Features of the ATR Volatility Indicator for MT5

The indicator displays the market volatility with histogram bars of different colors, making it easy for even a novice trader to decipher the market volatility. Besides, it has customizable Parameters, which allows users to adjust the parameters to suit their trading styles and preferences. Finally, the indicator works flawlessly on multiple time frames.

Benefits of Using the Indicator

  • Trend Assessment: The ATR Volatility indicator for MT5 provides traders with a clear assessment of market volatility. It assists traders in identifying periods of increased and decreased market volatility.
  • Trend Identification: The histogram bars of the indicator provide information on the strength of the market trend. For instance, the green bars in an uptrend are a confluence that suggests a sustainable trend, aiding traders to make informed trading decisions.
  • Confluence for Entry and Exit: The indicator can be used as a confluence to find optimal trade entry or exit zones in the market

Indicator Settings Description

The indicator comes with the following customizable settings:

ATR period: Determines the period of the ATR.

Higher level: Determines the value for the upper extreme level.

Lower level: Determines the value for the lower extreme level.

Calculation mode: Determines the method used for calculation.

Maximum bars: Determines the maximum candlesticks for trend analysis.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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