Average True Range Candles

Trading News
The Average True Range (ATR) indicator for MetaTrader will paint the candles on the chart according to the ATR indicator. The settings for the ATR indicator candles can be set by the trader. In the example below, the ATR indicator has the values:
  • ATR Period 10
  • Multiplier 2
Average True Range Candles indicator Metatrader
An ATR candles indicator for MetaTrader
Metatrader chart
Same chart without the ATR Candles indicator
The trader can also set the ATR candles color and, if choosing color 'none' for the ATR line indicator, to hide it (as seen above).
The ATR Candles indicator can be used to understand how the price moves and show the swings that the price forms. With the correct settings for the current chart and time frame, it can be successfully used to enter/exit trades based on the color as it can show exactly when the price reverses.
You can download this RobotFX MT4 indicator for free from here.