The real ATR MT4

Advantages of The Real ATR MT4 Indicator

The Real ATR MT4 Indicator offers several significant advantages that enhance trading accuracy and strategy development for both novice and experienced traders. Below are some key benefits:

1. Accurate ATR Calculation

This indicator determines the Average True Range (ATR) value in a classic way while also offering a more refined calculation. By ignoring so-called paranormal bars—extremely small and large candlesticks that do not reflect actual market activity—the Real ATR provides a more accurate representation of instrument volatility.

2. Customization Options

The Extended version of the indicator allows traders to set various calculation parameters, including the number of days for which the ATR value is calculated. This means that users can tailor the indicator to fit their specific trading strategies and market conditions.

3. Real-Time Performance Metrics

The Real ATR MT4 Indicator displays valuable real-time information on the chart, including:

• ATR Days (x): The calculated ATR value for X days, excluding paranormal days.
• Done (p): The distance the instrument has already traveled today, compared to the ATR value.
• Left (p): The remaining distance for the instrument to travel within the day, relative to the ATR value.
• Classic ATR: The option to toggle between classic calculation and the more refined method that excludes paranormal bars.
• Spread: The current spread value as the information is displayed.

4. User-Friendly Interface

The indicator comes with adjustable settings such as font size and position on the chart, making it easy to personalize the display according to user preferences. This improves readability and ensures that critical information is easily accessible while trading.

5. Elimination of Market Noise

By excluding paranormal movements from the ATR calculation, traders can focus on the underlying market trends instead of being misled by erratic price actions. This feature enhances the reliability of the ATR as a volatility measure, leading to more informed trading decisions.

6. Versatile Trading Applications

The accurate ATR readings provided by this indicator are pivotal for various trading strategies, including risk management, setting stop-loss levels, and identifying potential breakout points. The ability to tailor the calculation over different periods allows traders to adapt to different market conditions.

7. Compatibility with MT5

For traders using MetaTrader 5, the Real ATR is also available with a dedicated version, ensuring that a broader range of users can benefit from this precise and user-friendly indicator. Link to MT5 version

Overall, the Real ATR MT4 Indicator empowers traders with precise market insights, enhancing their ability to make strategic decisions while minimizing risks associated with market volatility.