AverageOfATR_Histogram - indicator for MetaTrader 5

Real author:

FXMatics.com

A histogram of difference between ATR and its averaging implemented in color and complemented with the volatility change signals. When ATR is above its averaging, the histogram is yellow; otherwise it is dark blue.

The confirmation rule is simple: if the ATR line crosses its average from bottom up, you should analyze the price action or open an order based on your signal. In this case a pink star appears on the histogram. When the ATR line crosses its average from top down and volatility falls, a blue circle appears on the histogram.

For a more convenient display, the indicator is implemented in the form of a histogram. The yellow color of the indicator means that ATR is above its average, dark blue appears when ATR falls below its average.

The indicator uses SmoothAlgorithms.mqh library classes (copy it to <terminal_data_folder>\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

The indicator has originally been written in MQL4 and was first published in the Code Base on 04.01.2016.

Fig.1. The AverageOfATR_Histogram indicator