Standard Smoothed Average True Range Metatrader 5 Forex Indicator

AATR is short for Average Average True Range, and it represents a Metatrader 5 custom forex indicator that is a standard smoothed ATR displayed as a colored histogram.

The green histograms of the AATR MT5 custom forex indicator depicts growing values, while the red AATR Metatrader 5 forex indicator histograms suggest declining values.

The adjustable inputs parameter on the AATR MT5 x indicator includes:

  • ATR period – defines the ATR calculation period
  • Smoothing period – defines the ATR smoothing period

The formula that explains the AATR MT5 indicator are included below:

AATR = SMA (ATR, Smoothing period)

Where:

ATR – standard ATR to be calculated over the “ATR period”

Free Download

Download the “AATR.ex5” MT5 indicator

Example Chart

The USD/JPY M30 chart below displays the AATR Metatrader 5 forex indicator in action

Basic Trading Signals

Buy Signal: Go long when the green histograms of the AATR Metatrader 5 forex indicator breakout within the indicator window.

Sell Signal: Go short when the red histograms of the AATR MT5 forex indicator gets displayed within ts indicator window.

Exit buy trade: Close all buy orders if while a bullish trend is ongoing, a red histogram forms.

Exit sell trade: Close all sell orders if while a bearish trend is ongoing, a green histogram forms.

Tip: The AATR MT5 forex indicator has an easy visualization scheme and isn’t difficult to get a hold of.

Download

Download the “AATR.ex5” Metatrader 5 indicator

MT5 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 5

Type: chart window indicator

Customization options: Variable (ATR period, Smoothing period), Colors, width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: oscillator

Installation

Copy and paste the AATRex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL5 > Indicators (paste here)

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