Step average (atr based) - MetaTrader 5 script | Trading script download - MT4/MT5 resources

We all use averages for market assessment. One way to use averages is to use the change in the slope of the average as a signal. But this approach tends to produce a large number of signal markets in ranging. One way to reduce the number of signals is to filter out the mean values ​​that vary little.

It uses the percentage of ATR (Average True Range) as a filter. This is done to fix one of the weaknesses of using fixed (point) steps: different timeframes tend to produce different results for fixed steps (i.e.: higher timeframes have few steps, while lower timeframes still have them for the same setup). ATR uses percentages to solve this problem and make it somewhat adaptable. Everything else is the same: if the average does not change beyond the required steps, the value of the average remains unchanged. Otherwise it will be changed to reflect the closest value based on the required step. Supported averages are:

You can use color changes as signals

Attachment download

📎 step_average_aatr_basedr.mq5 (10.51 KB)

Source: MQL5 #22677