ATR Trend Envelope - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The Trend Envelope indicator is calculated based on the percentage change in price. This percentage is then used to determine if there is a new trend or if the trend remains the same.
This version instead uses ATR for price change calculations.
The reasons for using ATR are as follows - Percent changes are suitable for mid-term time frames. But it tends to be either too slow or too fast for both short and long time horizons. Here's a comparison of this indicator (top) and the "classic" version (bottom) on the daily timeframe. Obviously, the difference is huge and "trend" in "classical" calculations should be redefined.
Attachment download
📎atr_trend_envelopes.mq5 (5.58 KB)
Source: MQL5 #21810
ATR Trend Envelope - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
ATR Trend Envelope - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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