ATR Trend Bands With EMA Filter MT4
- Indicators
- Version: 1.29
- Activations: 10
# ATR Trend Bands & EMA Indicator for MetaTrader 4 (MQL4)
A professional, volatility-adaptive trend-following indicator for MetaTrader 4. It identifies breakout momentum using dynamically adjusting **Average True Range (ATR) Bands** combined with **Exponential Moving Average (EMA)** multi-timeframe trend filters.
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## 📌 Features
- **Adaptive ATR Channels:** Dynamically tracks trailing support/resistance bands that expand during high volatility and contract during consolidation.
- **Dynamic Color Transition:** Automatically shifts line colors (Green = Bullish, Red = Bearish, Gray = Neutral) based on the baseline slope.
- **EMA Trend Filter:** Integrates an optional EMA 200 trend filter to prevent taking trades against higher-timeframe momentum.
- **Signal Deduplication:** Internal state machine prevents duplicate consecutive signals, delivering clean, alternating Buy/Sell trade arrows.
- **Zero Repainting on Signals:** Alerts and signal arrows evaluate exclusively on closed candles (`Bar 1`).
- **Comprehensive Alerts:** Native terminal pop-ups and customizable audio notifications.
Suitable for Scalping Traders, the recommended timeframes are M1, M5, M15... or you can use any timeframe you find suitable.
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## ⚙️ How It Works
### 1. Volatility Band Mechanics
The channel dynamically expands and locks using ATR offsets based on price breakouts:
- **Upper Band (Trailing Resistance)
- **Lower Band (Trailing Support)
- **Mid Band (Baseline):** Calculated as the midpoint between Upper and Lower bands:
### 2. Multi-EMA Trend Framework
- **EMA 55 (Dodger Blue) & EMA 89 (Gold):** Act as dynamic pull-back zones in trending phases.
- **EMA 200 (Magenta):** Macro-trend baseline filter.
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## 🚦 Trading Signals & Entry Rules
| Signal | Chart Graphic | Trigger Conditions | Trend Filter (`UseEMAFilter = true`) | State Reversal Rule |
| :--- | :--- | :--- | :--- | :--- |
| **BUY** | 🟢 Up Arrow (`#233`) |
| **SELL** | 🔴 Down Arrow (`#234`) |
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## 🛠️ Input Parameters
| Parameter | Type | Default | Description |
| :--- | :--- | :--- | :--- |
| `ATR_Period` | `int` | `14` | Lookback period for Average True Range calculation. |
| `ATR_Multiplier` | `double` | `1.7` | Multiplier defining the channel width and breakout sensitivity. |
| `UseEMAFilter` | `bool` | `true` | When enabled, filters Buy signals above EMA 200 and Sell signals below EMA 200. |
| `ShowLabels` | `bool` | `true` | Displays graphical arrow markers on the chart for validated signals. |
| `EnableAlerts` | `bool` | `true` | Enables pop-up alert dialogs upon bar close. |
| `SoundFile` | `string` | `"alert.wav"` | Audio file played during signal alerts. |
| `Source` | `ENUM_APPLIED_PRICE` | `PRICE_CLOSE` | Applied price calculation base for EMAs. |
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## 📈 Suggested Trading Strategy
- **Entry:** Enter at the open of the next bar following an arrow confirmation.
- **Stop Loss (SL):**
- For **BUY**: Place Stop Loss below the current **Lower Band**, below previous swing low or below **EMA 200**.
- For **SELL**: Place Stop Loss above the current **Upper Band**, above previous swing high or above **EMA 200**.
- **Take Profit (TP) / Exit:**
- Ride the trend until an opposing signal appears.
- Or trail your stop loss progressively behind the **Mid Band**.
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## 📂 Installation
1. Open MetaTrader 5 and click **File -> Open Data Folder**.
2. Navigate to `MQL5/Indicators/`.
3. Copy `ATR_TB_EMA.mq5` into this folder.
4. Restart MetaTrader 5 or right-click **Indicators** in the Navigator panel and select **Refresh**.
5. Drag the indicator onto your preferred chart and timeframe.
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## 📄 License
This project is open-source under the [MIT License](LICENSE).
