How to use the Average True Range (ATR) and Improve Your Trading. High accuracy Forex Bar Color ATR Stops MT4 Trading System and Indicators – this is a trading system that measures volatility and determines a new trend.
The ATR describes how much an asset typically moves over the course of the day. Day traders can use this information for plotting profit targets and determining whether a trade should be taken on.
- Time Frame: H1 or higher
- Currency Pairs: GBPUSD, GBPJPY, EURUSD, USDJPY, AUDUSD, USDCAD, and NZDUSD
MetaTrader Trading Indicators
- ATR Stops
- Dots Color
- Histo Bands
- Bar Color
- Relative Strength Index
BUY Rules
- ATR Stops: Below the candles
- Dots Color: Blue
- Histo Bands: Blue
- Bar Color: Blue
- Relative Strength Index: Above level 55 line
SELL Rules
- ATR Stops: Above the candles
- Dots Color: Red
- Histo Bands: Red
- Bar Color: Red
- Relative Strength Index: Below level 45 line
Trading NOTES
- In this trading system, a trailing stop loss is a way to exit a trade.
- ATR Stops is commonly used as a trailing stop loss.
- Initial Risk-Reward Ratio (RRR) is 1:2 or 1:3
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