Need a special ATR indicator
no one come across a similar one in their travels ???
There is one sold by CompassFX
CompassFX | Average Daily Range Calculator - ADR Calculator for Metatrader 4.0
thanks a lot
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Hi,
I am looking for an ATR indicator that can plot on and HOURLY chart that does the following:
1. Allow the user to input a DAILY ATR period eg., ATR period of 10 days
2. Allow user to input up to say 4 ATR levels as a percentage of the selected daily inputted period. ie., 80% of the 10 day ATR, 100% and 125% and 150% or whatever i choose.
3. Allow an hourly offset input ie., my MT4 platform is GMT + 2 hrs so an input of 2 would line the ATR levels nicely
the indicator would then calculate the DAILY ATR for the selected period and would plot upper and lower horizontal lines at each percentage of the calculated DAILY ATR range on an HOURLY CHART. as the hourly candles make a new high or low the lines re-adjust. Ideally it would allow you to change the colour of the lines so you can fade then light gray or something and would display for each day not just the current day.
I guess similiar to how daily pivot points are displayed above and below but for ATR ranges.
Hope this makes sense.
Clinton