ATR indicator is the type of Forex tool you need when it comes to measuring volatility changes in price action over time, as other sources will tell you that Average True Range (ATR) is a technical analysis indicator used for measuring volatility, here I present you with five of the best ATR indicators and Systems.
Before we get to the list, I’d like to acknowledge J. Welles Wilder Jr, he is an American Mechanical Engineer born in the 1930s, he is the man who came up with the ATR indicator, he also made a lot of other technical indicators which are now considered to be the core indicators for technical analysis software.
In this article, I’ll mention three different types of ATR indicators and two different types of ATR trading systems, which make up five of the best ATR indicators used in technical analysis by traders worldwide.
Different types of ATR Indicators
The first meta trader 4 indicator is called the ATR channel indicator, it’s a special tool suitable for meta trader 4, it works for all currency pairs and you can get it at the end of this post.
The second mt4 indicator is called the ATR stops indicator with alerts, ATR stops are also a great technical tool, unlike the traditional ATR which is used for measuring volatility, you can actually use the ATR stops to identify trend direction.
ATR stops indicator works in meta trader 4, it can read price action across all currency pairs and is efficient in all trading time frames.
The third indicator is called ATR separate labeled indicator, the separate labeled indicator looks more like the traditional ATR, it also measures market volatility across all measure currency pairs, you can use ATR separately on a time frame.
The fourth and fourth on this listing are rather Forex trading systems because different indicators are combined and used in conjunction with each other.
Fourth ATR System is called ATR stops with magic fx, this is a very informative tool, it contains daily support and resistance levels, and pivotal points called the magic stops, this system works on all-measure currency pairs and can be used for scalping and swing trading.
The fifth ATR trading system is called the ATR trend system, this trend system truly has a personality of its own, it’s an adaptive Forex system suitable for trading any currency pair, it works across all major currency pairs and can be used by advanced traders.
ATR Indicator MT4
Thanks to J. Welles Wilder Jr, because of his work, today we have different versions of ATR indicators and trading systems, we have combined all the indicators mentioned above in a single zip file, and you can download it for free on our dropbox cloud.