Adaptive ATR Channel - MetaTrader 5 Script - MQL5 #22964 - MT4/MT5 Resources
There is an article in the December 2011 issue of TASC on "Adjustable Belt Z Testing". According to the author, the adjustable strap is calculated as follows:
Instead of using the standard deviation ratio as the adaptation factor, this version uses Perry Kaufman's efficiency ratio. Additionally, this version does not have standard deviation bands but ATR bands. The ATR in this version is also adaptive and smoothed for smoother frequency bands. In this way the indicator is somewhat similar to the Keltner Channel (in theory). But since all components are calculated differently, it should have a separate name.
You can use it in a similar way to using the Keltner channel.
Attachment download
📎 adaptive_atr_channel.mq5 (14.7 KB)
Source: MQL5 #22964
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