ATR Crossover Arrow Alert Indicator (MT4)

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• Download 501
• File Size 26.17 KB
• File Count 1
• Create Date October 13, 2020
• Last Updated February 27, 2025

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ATR Crossover Arrow Alert Indicator (MT4)

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This unique trend crossover indicator will generate an arrow alert whenever the high/low of the current candle closes above or below a unique moving average line. The candle highs/lows and moving average line have been pre-configured using an ATR (Average True Range) attribute. The trend speed can be increased or decreased by adjusting the ‘ATR Polarity’ in the ‘Inputs’ settings tab. A potential up-trend signal when the current ATR price low crosses and closes above the MA line and a potential down-trend signal when the current ATR price high crosses and closes below the MA line. By default the ‘ATR Polarity’ has been set to 4 however this can be adjusted to a specific user preference.

This indicator also includes an inbuilt TP/SL (Take-profit/Stop-loss) target levels configured using ATR (Average True Range) multipliers and can be adjusted to a specific user preference. This method calculates and positions the suggested ‘TP and SL’ levels according to current price volatility unique to each currency pair. Each TP and SL level is calculated to a standard risk to reward ratio as a default setting and can be adjusted to a specific user preference in the indicator input settings. This is an optional feature. As an alternative users may also choose to use support and resistance levels as preferred TP and SL positions.

TIP: The ATR Crossover Arrow Alert Indicator may also be used with the MA-ATR Bands Indicator for added confirmation of trend direction or overbought/oversold areas.

Optional Strategy for the 5 minute chart or higher timeframes: ATR Crossover 5 Minute Chart Simple Strategy (Go to page for more details)

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

Notes and recommendations: Works well with trending 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 proper market analysis and added confirmations to suggest high probability win trade. Take caution during NFP week or try to avoid trading during NFP week.

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