The weekly ATR (average true range) indicator for Metatrader 4 displays the current and previous ATR values for the weekly chart time frame.
Generally speaking, market volatility increases when the current ATR value is higher than the previous ATR value.
Likewise, market volatility decreases when the current ATR value is lower than the previous ATR value.
After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown below.
Key Points
- Displays weekly Average True Range
- Gives an idea about market volatility
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system.
Free Download
Download the “WeeklyATR.mq4” MT4 indicator
Indicator Example Chart
The USD/JPY daily chart below shows the Weekly ATR Forex indicator in action.
Basic Trading Signals
The Weekly ATR Forex indicator needs to be combined with other technical tools in order to create a complete trading system.
Download This Forex Indicator
Download the “WeeklyATR.mq4” MT4 indicator
Adjustable Parameters & Settings
X adjust, y adjust, colors, style
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: Average True Range
How to install the Weekly ATR indicator in Metatrader 4?
- Copy and paste the WeeklyATR.mq4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
How to remove the indicator from the chart?
- Right click in the chart
- Select indicators list
- Click on the indicator’s name
- Click on the delete button