Sc MTF Average True Range ATR MT4

What is ATR?

The Average True Range (ATR), developed by J. Welles Wilder, is a technical indicator that measures market volatility. It calculates the average of the True Range over a specified period. The True Range is the greatest of the following: the distance from the current high to the current low, the distance from the previous close to the current high, or the distance from the previous close to the current low.

ATR does not indicate price direction — it purely measures volatility. A rising ATR indicates increasing volatility, while a falling ATR signals decreasing volatility. Traders use ATR to assess market conditions, set dynamic stop-losses (e.g., ATR-based trailing stops), determine position sizing, and identify potential breakouts. High ATR values typically occur during fast-moving or news-driven markets, while low ATR values suggest quiet, consolidating conditions.

Features:

• Visual signal markers with arrows and vertical lines
• Three independent signal buffers with configurable triggers
• Signal detection options: direction change, peak/valley
• Configurable alert functions for each signal (email, push, sound, popup)
• Multi-timeframe (MTF) capability with interpolation methods
• Histogram or line drawing mode
• Multiple color modes (simple, direction-based)
• Custom indicator call (iCustom) buffer access for Expert Advisor (EA) integration

Input Parameters:

• Basic Settings:
  • ATR bar shift: Offset the line drawing by specified number of bars.
  • ATR Period: Number of periods for ATR calculation (default: 14).
  • ATR timeframe: Choose timeframe for MTF display.
  • MTF Interpolation mode: Select smoothing method (Off, Linear, Smooth, Weighted, Simple Moving Average).
• Signal Settings:
  • Signal 1/2/3 trigger: Configure detection type (direction change, peak/valley).
  • Visual markers: Enable arrows and vertical lines with customizable size, style, and position.
  • Arrow customization: Set Wingdings codes and colors for up/down signals.
• Alert Settings:
  • Alert timing: Choose when alerts trigger (Off, After close, Before close, Both).
  • Alert interval limit: Set minimum minutes between repeated alerts.
  • Time range filter: Restrict alerts to specific hours.
  • Delivery methods: Enable email, push, popup, and sound notifications.
• Color and Style Settings:
  • Color mode: Select from multiple modes (simple, direction-based).
  • Histogram mode: Switch between line and histogram display.
  • Line appearance: Customize colors (4 per line), style, and width.