The ATR Trend Channel indicator for MetaTrader 5 tries to encapsulate the price within 6 bands, determined by the ATR (average true range) indicator and its relationship with the SMA (simple moving average).
On the chart, it might look similar to the Guppy indicator.
The 2 middle lines are determined by the ATR*multiplier, the seconds up/down are determined by the ATR*multiplier plus the high/low SMA and the outer channel lines are the 2*ATR*multiplier + SMA (High or Low depending on the whether there is the upper band or the lower one).
One trading strategy idea using this ATR indicator is to focus on entering a trade when the price reverses while continuing with the trading, after crossing at least the middle bands. If the price pokes through the opposite outer band – for example if there is a downtrend and the price swings higher then the upper band – a change of trend might happen, and the trader should trade with caution or wait for the new trend to form.
The settings are simple, with only two main options – ATR (which is also the SMA period) and ATR multiplier, plus the settings for the band moving averages colors.
ATR Trend Channel (MT5 indicator)
$21.00
The ATR Trend Channel indicator for MetaTrader 5 tries to encapsulate the price within 6 bands, determined by the ATR indicator and its relationship with the SMA (simple moving average).
Supports All Currency Pairs
Compatible with Any Broker
Personalized Trading Strategy
Profit Lock and Trailing Features
Fake Signals Detector
Time, Day and Holiday Filter
Money and Order Management
Free Updates for Life
| Platform | MT5 |
|---|---|
| License Type | Standard |
After the payment, there are two ways to get the RobotFX product paid for, depending on the license type:
- Direct Download : for Standard license type products, the download link will become visible after the payment (registered customers will also be able to find their downloads under Account > Downloads section)
- Email Delivery : Extended license type customers are required to send us their trading platform (MT4/MT5) and live trading account numbers (maximum of five) so we can customize their product. The personalized trading tool will be emailed to the customer email as soon as compiled to bound to their account numbers
* Check the Item specifics tab to determine what type of license applies to this product.
⚠ RobotFX trading tools are always in .ex4 / .ex5 filetype format. We suggest the MQL RobotFX website to traders looking for open code (.mq4 and .mq5).
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Nicholas Parks (verified owner) –
I have been using the ATR Trend Channel indicator for MT5 for a few weeks now and I am very impressed with its performance. It is a simple yet effective tool that helps me identify the trend direction and volatility of the market. It also provides me with dynamic support and resistance levels that I can use to enter and exit trades.