Forex ATR “Average True Range” Value MT4 Indicator – An indicator for displaying ATR (Average True Range) value in pips or points with option for setting multiplier.
The average true range (ATR) is a technical analysis indicator that measures volatility by decomposing the entire range of an asset price for that period.
Specifically, ATR is a measure of volatility introduced by Welles Wilder in his book, “New Concepts in Technical Trading Systems”.
The true range indicator is the greatest of the following: current high less the current low, the absolute value of the current high less the previous close and the absolute value of the current low less the previous close.
The average true range is a moving average, generally 14 days, of the true ranges.