Multi AT R Bands
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. 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 Multi AT R Bands
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
'Three ATR Bands with multiple selection' indicator is a set of three ATR Bands indicators each having adjustable parameters.
It has nineteen input parameters:
Show middle lines
- show the middle ATR Band (Yes/No)
Show first ATR Bands
- show the first ATR Bands indicator (Yes/No)
First ATR period
- ATR calculation period for the first ATR Bands
First MA period
- MA calculation period for the first ATR Bands (middle line)
First MA type
- MA type for the first ATR Bands
First applied price
- MA calculation price for the first ATR Bands
First bands multiplier
- ATR multiplier for the first ATR Bands
Show second ATR Bands
- show the second ATR Bands indicator (Yes/No)
Second ATR period
- ATR calculation period for the second ATR Bands
Second MA period
- MA calculation period for the second ATR Bands (middle line)
Second MA type
- MA type for the second ATR Bands
Second applied price
- MA calculation price for the second ATR Bands
Second bands multiplier
- ATR multiplier for the second ATR Bands
Show third ATR Bands
- show the third ATR Bands indicator (Yes/No)
Third ATR period
- ATR calculation period for the third ATR Bands
Third MA period
- MA calculation period for the third ATR Bands (middle line)
Third MA type
- MA type for the third ATR Bands
Third applied price
- MA calculation price for the third ATR Bands
Third bands multiplier
- ATR multiplier for the third ATR Bands
The types of Moving Averages, which can be used for each of the three ATR Bands:
Simple
-
Exponential
-
Smoothed
-
Linear-Weighted
-
Wilder Exponential
-
Sine-Weighted
-
Triangular
-
Least Square
-
Hull MA by Alan Hull
-
Zero-Lag Exponential
-
Instantaneous Trendline by J.Ehlers
-
Moving Median
-
Geometric Mean
-
Regularized EMA by Chris Satchwell
-
Integral of Linear Regression Slope
-
Combination of LSMA and ILRS
- moving average - combination of and methods
Triangular MA generalized by J.Ehlers
-
Volume-Weighted
-
Calculation:
Top = Middle + ATR * Multiplier
Bottom = Middle - ATR * Multiplier
Middle = MA(Applied price, MA period, MA type)
Since the indicator provides wide options for adjusting the indicator lines, it is convenient for trading at rollbacks from extreme values.
