ATR Forex Indicator For MT5

The Average True Range (ATR) Forex indicator for Metatrader 5 tracks market volatility and is often used for take profit and stop loss calculations.

Generally speaking:

  • A high ATR indicator reading = high market volatility
  • A low ATR indicator reading = low market volatility

Typically, the ATR period is set to 14.

The Average True Range indicator for MT5 is displayed in a separate chart window as a blue colored line that shows market volatility.

How to use ATR in Forex?

  • In highly volatile markets (high ATR reading), traders use a wider stop loss and larger take profit target.
  • In low volatile markets (low ATR reading), traders use a smaller stop loss and smaller take profit target.

The indicator contains the following inputs and parameters: ATR period (14).

First, familiarize yourself with this technical indicator and test it on a demo account.

It supports all time frames and Forex pairs.

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ATR.mq5 Indicator (MT5)

Chart Example

The following chart shows what the Average True Range (ATR) indicator looks like when applied to the MT5 chart.

How To Buy And Sell Forex Pairs With The Average True Range (ATR) Forex Indicator?

The ATR indicator does not generate any buy and sell signals.

It doesn’t tell you where the market is heading to, it only informs you about past and current market volatility.

Please use it together with an existing system or trading strategy.

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ATR.mq5 Indicator (MT5)

Frequently Asked Questions

How Do I Install This Custom Indicator On Metatrader 5?

  • Open the MT5 trading platform
  • Click on the File menu button located at the top left part of the platform
  • Click on Open Data Folder > MQL5 folder > Indicators
  • Copy the ATR.mq5 indicator file in the Indicators folder
  • Close and restart the trading platform
  • You will find the indicator here (Navigator window > Indicators)
  • Drag the indicator to the chart to get started with it!

How Do I Edit This Indicator?

  • Click in the open chart with your right mouse button
  • In the dropdown menu, click on Indicator List
  • Select the indicator and click on properties
  • Now you can edit the inputs, colors, levels, scale and visualization
  • Finally click the OK button to save the new configuration