relative at r
Info
The relative at r is a Indicator for MetaTrader 4 that the atr is a great tool. however, it cannot be used as a volatility indicator.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use relative at r
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
the atr is a great tool.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: Figurelli RSI: Enhanced Relative Strength Index for Trend Detection - another powerful indicator for MetaTrader 4 traders.
Also recommended: relative strength index - similar indicator with strong performance on MetaTrader 4.
the atr is a great tool. however, it cannot be used as a volatility indicator. i've bound it within 0 - 100% and compared it to the previous x days so a comparison can be made.recommendations:
for no nonsense forex followers, this has been created in attempt to incorporate the $evz chart into mt4. e.g. when the atr(14) is at the bottom 25% compared to the past 800 days, instead of taking half profit off at the 1xatr mark, take the full profit off, as recommended by vp in the 'dead markets' episode.
You may also like: rs o, relative strength oscillator - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property version "1.02"
#property copyright "robotfx"
#property strict
#property indicator_separate_window
#property indicator_buffers 4 // number of buffers
#property indicator_color1 clrlimegreen // color of the 1st line
#property indicator_color2 red // color of the 2nd line
#property indicator_color3 blue // color of the 1st line
#property indicator_color4 red // color of the 2nd line
extern int lookbackbars = 800; // days to use as reference. 260 days in a year.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.