PipTick ATR
PipTick ATR indicator is a really helpful tool for measuring of range of bars (Average True Range). It helps simply and quickly evaluates the current spread (range) of the ATR, which is especially useful for VSA traders. The indicator for the classification of the range of bars (candles) uses the moving average and its multiples. Accordingly, where the ATR bar is located (relative to the moving average), it is labeled as ultra-low, low, average, high, very high, or ultra-high. PipTick ATR indicator is rendered as a histogram.
This Indicator Can Calculate Moving Average By Four Methods
- SMA - Simple Moving Average
- SMMA - Smoothed Moving Average
- EMA - Exponential Moving Average
- LWMA - Linear Weighted Moving Average
Interpretation of the Indicator
By default, six zones can be changed by the user. Depending on which zone corresponds to the ATR, the bar of the histogram is colored by the appropriate color. This way you can easily recognize how high the ATR (spread/range) is, in comparison with the previous bars.
- Ultra ATR zone - Gray
- Low ATR zone - White
- Average ATR zone - Aqua
- High ATR zone - DeepSkyBlue
- Very High ATR zone - RoyalBlue
- Ultra High ATR zone - Blue
Main Features
- Simple classification of range of bars
- Several optional calculation methods
- User selectable ranges of the zones
- Works on every timeframe (M1, M5, M15, M30, H1, H4, D1, W1, MN)
- Very fast and reliable indicator
- Customizable parameters (Colors, Line thickness, MA period...)
Input Parameters
- MA_Method - Allows to choose between SMA, SMMA, LWMA and EMA
- MA_Period - Period of MA calculation
- ATR_Period - Period of ATR calculation
- Line_Thickness - Thickness of output line
- Histogram_Thickness - Thickness of output histogram
- Low_Coefficient - Coefficient for determination low zone
- Average_Coefficient - Coefficient for determination average zone
- High_Coefficient - Coefficient for determination high zone
- Very_High_Coefficient - Coefficient for determination very high zone
- Ultra_High_Coefficient - Coefficient for determination ultra high zone
- Color_Text - Color of indicator text
- Color_MA_Line - Color of MA line
- Color_Ultra_Low - Color of ultra low histogram
- Color_Low - Color of low histogram
- Color_Average - Color of average histogram
- Color_High - Color of high histogram
- Color_Very_High - Color of very high histogram
- Color_Ultra_High - Color of ultra high histogram
Output Parameters
- Average ATR - Displays value of average ATR by period
- ATR - Displays values of ATR
- Type - Displays number of zone type. 1 - 6 according the zone. Number 1 means ultra low, 6 means ultra high
- Low - Displays values of low zone. Otherwise value equals zero
- Average - Displays values of average zone. Otherwise value equals zero
- High - Displays values of high zone. Otherwise value equals zero
- Very High - Displays values of very high zone. Otherwise value equals zero
- Ultra High - Displays values of ultra high zone. Otherwise value equals zero
Screenshots
Demo Video
Purchase
All our products are available in the MQL5 market.