The ATR Levels Indicator For MT4 is an indicator that is built specifically for traders who use the Meta Trader 4 for their trading analysis, charting of different currency pairs and trading assets, doing their technical analysis and making trading decisions all through the trading day as they work.
One of the first major advantages of using the ATR Levels Indicator For MT4 is that it automatically helps the trader to spot very important levels in the markets based on the Average True Range Indicator.
This means that the trader using the indicator can very easily be able to identify the major levels in the price where the market has the greatest potential to reverse during the trading day. These levels are drawn for the trader based on the range produced by the price at such areas in price.
This means that the price can very easily change their direction at these levels.
These levels are known as support and resistance levels. Support levels are those price areas below the price where the market has produced a sort of hindrance to the price breaking beneath it.