AT R with Smoothing
This tool for MetaTrader 4 is specifically engineered to streamline your trading operations. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use AT R with Smoothing
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.
Description & Settings
This Indicator is based on the True Range which is the maximum of (High - Low), Abs(High - Close[1]) and Abs(Low - Close[1]), with Abs being mathematical absolute.In order to get the first data, it calculates the true range value for a number of bars (which is the input Length) and then calculates the SMA of these values (which is the sum of all these values by the Length - a simple average). This average is set as the first ATR value.Smoothing methods:RMA: a coefficient alpha is defined as : alpha = 1/Length. The calculation of RMA is: rma = alpha * (true range value of this candle) + (1-alpha) * (last rma).SMA: for each bar it calculates the simple average of the true range value for the defined number of bars (Length). This mode is equal to the iATR value.EMA: a coefficient alpha is defined as : alpha = 2/(1+Length). The calculation of EMA is: ema = alpha * (true range value of this candle) + (1-alpha) * (last ema).WMA: for each bar it calculates the weighted average of the true range value for the defined number of bars (Length) like this:sum = N * (tr[0]) + (N-1) * (tr[1]) + ... + 1 * (tr[N-1]); tr is true range value of the candlewma = sum / (N*(N+1)/2)
Example: XAUUSD, H1
RMA
EMA
SMA
WMA
