ATR Channel Indicator MetaTrader 5 Download - Free - [Trading Finder]

The ATR Channel Indicator is an advanced tool for identifying trends and analyzing price volatility in MetaTrader 5. This indicator uses adaptive algorithms to draw dynamic channels above and below the price trend. The channels drawn by the ATR indicator help traders identify trends and determine Stop Loss (SL) and Take Profit (TP) levels. Another benefit of using this indicator is identifying suitable Entry and Exit points.

Indicator Specifications

Uptrend Conditions in the ATR Channel Indicator

According to Solana's 1-hour time frame price chart (SOLANA), the price trend fluctuates in channels above the moving average. In an uptrend, the price consistently approaching higher channels relative to the moving average indicates the price's tendency to continue moving upward (Uptrend). Additionally, the widening gap between the channels signifies increasing buying pressure.

Downtrend Conditions in the ATR Channel Indicator

The price trend fluctuates in channels below the moving average in the 30-minute price chart of Gold against the US Dollar (XAU/USD). In a downtrend, the price consistently approaching lower channels relative to the moving average indicates the price's tendency to continue moving downward (Downtrend). Additionally, the widening gap between the channels signifies increasing selling pressure.

Indicator Settings

• MA smoothing method: Here, the type of MA can be changed;
• MA period: The number of candles in the moving average calculation is set to 20;
• ATR period: The number of candles used to calculate the Average True Range is 20;
• Number of deviations for one channel: The width of channel one is set to 1.5;
• Number of deviations for two channels: The width of channel two is set to 3.0;
• Number of deviations for three channels: The width of channel three is set to 4.5;
• Applied price: The indicator's calculations are based on the closing of candles;
• Horizontal shift of the indicator in bars: The horizontal shift of the indicator is disabled;
• Theme: Theme settings in the indicator.

Summary

The ATR Channel Indicator (Average True Range Channel) is a practical technical analysis tool in MetaTrader 5. By creating dynamic and up-to-date channels, this indicator greatly assists traders in performing more precise market analysis and making optimal Entry and Exit decisions in trades.