ATR Progress Advisor
- Indicatori
- Versione: 1.20
- Attivazioni: 5
ATR Progress Advisor
Overview
The indicator shows how far the current price has deviated from the daily open as a percentage of the daily ATR and provides clear textual recommendations for entries and profit-taking. A simple volatility filter to help make intraday and swing-trading decisions.
Key ranges and interpretation
<50% — "Good window for continuation entries"
Risk relative to ATR is low; trend-following entries with a normal position size are preferred.
50–70% — "Cautious entry, only with confirmation"
Moderate momentum; confirmation is required (levels, candles, volume/impulse).
70–80% — "Be cautious, only with a partial lot and a tight stop"
High momentum — limit exposure and move part of the position to breakeven.
>=80% — "Not recommended to enter. Time to take profit"
Price has moved a large range relative to ATR — a signal to take profit and avoid new long positions.
Practical recommendations for profit-taking / selling
>=80%: primary goal — partially or fully take profits on long positions; do not open new longs.
70–80%: reduce risk size, move part of the position to breakeven, use tight stop-losses.
50–70%: entries are allowed only with additional confirmation (trade levels, candlestick patterns, volume, strength/impulse indicators).
For short positions: interpret a high percentage as a sign that the impulse may be exhausted; enter shorts only on confirmed reversal (bearish candle, break of a key level, divergence).
Technical parameters and installation
Platform: MetaTrader 4 (MQ4).
ATR: calculated on D1 (daily).
Settings: text color, horizontal/vertical label offset.
Installation: place the .mq4 file in the Indicators folder, compile, and add to the chart.
Short disclaimer
The indicator is a volatility filter and decision-support tool, not an autonomous trading signal generator. Always use it together with risk management and additional confirmation methods.
