ATR indicator for mt4 charts

[davidl]

Steve and Matt, I wanted to get your opinion on this ATR indicator that i found for mt4 charts. I thought i could possibly use this indicator until you get the atr indicator done for the eod platform. The atr period is set to 5 with this picture (daily u/j chart). Or should i just stick to the 20 ema for now until you get it done? I know how the 2 of you like to use the atr for stops. PS, dont mean to push you to get it done. :D

Thanks,

David

[Matt Bowen]

Hi David,

I don't see anything physically wrong with it...what parameters is it using to calculate the ATR with? How many periods in the ATR? As long as you know how it works and that's the most important part. I've seen some ATR's calculated like a Parabolic and that will give you some different values.

All the best,

-Matt

[davidl]

Matt,
Here is a snap shot of the adjustments that i can make to the indicator. Do you have a recommended setting? Obviously, i need to do some backtesting to see if this atr indicator will improve my overall profits. Thanks for your input.

David

[Matt Bowen]

Hi David,

I'm assuming the "kv" is an acceleration factor? Set it to Zero and see what happens...this could act like a ratchet were it tightens the stop as the trade progresses. Also, try looking up the help file inside the software. If that does not work then call them up and ask for tech support.

Bottom line: You need to know what that veriable is and how it affects the calculation.

All the best,

-Matt

[vyt]

Hi davidl , could You share where can I find the ATRStop indicator for MT4 , thanks .

[Steve Griffiths]

Hi David,

We already have the ARTStop in MTPredictor EOD :)

Steve