MA-ATR ‘In’ Arrow Alert Indicator (MT4)

• Version
• Download 645
• File Size 16.67 KB
• File Count 1
• Create Date October 9, 2020
• Last Updated February 27, 2025

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MA-ATR 'In' Arrow Alert Indicator (MT4)

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This indicator will generate an arrow alert whenever the price/candle crosses and closes back 'IN' from above the bottom MA-ATR band or back 'IN' from below the top MA-ATR band. The top band indicates a potential SELL signal and the bottom band indicates a potential BUY signal.

Also visit the MA-ATR Bands Indicator page to include the MA-ATR bands to the charts.

The MA-ATR Bands Indicator displays upper and lower band lines based on a MA (Moving Average) line. The distance between the upper and lower bands from the main MA line (centre line) is determined and calculated by the applied ATR (Average True Range) of the market volatility. This method produces a unique visualisation on overbought and oversold price zones as well as trend movement. By default the MA line is set to the following settings:

MA Period: 61

MA Method: Linear Weighted Averaging (LWA)

ATR Period: 110

ATR Multiplier: 4

This indicator should only be used with or as part of a reliable, consistent working strategy that requires the use of the MA-ATR band indicator.

Notes and recommendations: Works well with ranging markets. Avoid using during 15-20 minutes before and after medium/high impact news and opening hour of major market sessions. Should only be used with a reliable strategy, proper market analysis and added confirmations to suggest high probability win trade. Take caution during the NFP (Non-farm payroll) week or try to avoid trading during NFP week.

Arrow Style Types Table: (Go to Arrow Styles Types page for more details and instructions)

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