ATR Channel - MetaTrader 5 Script - MQL5 #494 - MT4/MT5 Resources
Luis Guilherme Damiani
ATR Channels Price movement channels are created taking into account the ATR (Average True Range) technical indicator. This indicator clearly shows moments of trend acceleration and deceleration as well as overbought and oversold areas from an average true range perspective.
The variants offered by this indicator allow to choose the smoothing algorithm of the moving average from ten possible variants:
It should be noted that the Phase parameter has completely different meanings for different smoothing algorithms.
The indicator uses the SmoothAlgorithms.mqh library class (must be copied to the terminal data folder \MQL5\include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.
The indicator was first implemented in MQL4 and released in the code base on August 8, 2006.
Attachment download
📎 atr_channels.mq5 (12.62 KB)
📎 smoothalgorithms.mqh (133.8 KB)
Source: MQL5 #494
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •