Wilder Average True Range (ATR) - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources
This indicator implements the original “ Average True Range (ATR) ” by developer John Wells Wilder, Jr. , as described in his book – New Concepts in Technical Trading Systems [1978] .
It uses Wilder's Moving Average , also known as the Smoothed Moving Average (SMMA) , instead of the Simple Moving Average (SMA) as used by MetaTrader's built-in ATR indicator. According to his book, the default age for apps is 7, not 14.
The code uses conditional compilation and will be compiled on MQL4 and MQL5. Please note that the source code for all my codebase publications is now also available in the "Public Projects" tab with the meta-editor name "FMIC".
Attachment download
📎 wilderxs_average_true_range.mq4 (5.56 KB)
Source: MQL5 #42407
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