What is ATR?
ATR (Average True Range) is an Oscillator, part of the technical analysis which shows the volatility of the market. How many pips or points market movement per candlesticks or bar. Under a certain time, what is the average movement of the market. This indicator helps a lot to understand where a forex trader should place his or her stop loss. Also where to put the take profit of the trade. For a day trader daily ATR level can be very useful to gauge possible market movement.
Trade Example,
If a trader bought EURUSD & planning to hold it for 1 hour. If from the ATR dashboard 60 minutes ATR shows 19, that indicates,the trader should averagely expect 19 pips profit out this trade under 60 minutes.
Average True Range Dashboard:
- Dashboard Shows ATR Data from Monthly to Minute Time frame across 15 different instruments (custom-able) one at a time.
- The user can select maximum 4-time frames (custom-able) one at a time to scan across 15 instruments.
- ATR data helps to check volatility across different instruments & different time frames with (custom-able ATR periods for individual time frames)
- Works with all types of Instruments.
- The user can plot multiple Dashboard on the Same chart.
Check Market Volatility At a Glance:
For a day trader, it is not always possible to observe all currency pairs or indices, trading instrument one at a time. This tool helps the trader to spot market volatility across all instrument at glance. A day trader can decide which currency pair to choose for trading, which one is moving slower & which one is moving faster.
As we all know during forex news release, the market creates a volatility, random sharp movement. With this ATR (average true range) dashboard you can view how different currency pairs are reacting during the news release.
Input Parameters
- ATR Period
- Select Time frames
- Monthly
- Weekly
- Daily
- 4 Hours
- 1 Hour
- 30 Mins
- 15 Mins
- 5 Mins
- 1 Min
- Add Prefix
- Add Suffix
- Add Symbols
Leave a Reply