MA-ATR Bands Indicator (MT4)

• Version
• Download 282
• File Size 10.73 KB
• File Count 1
• Create Date October 9, 2020
• Last Updated February 27, 2025

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MA-ATR Bands Indicator (MT4)

(Click on image to enlarge)

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

These settings can be adjusted to a specific user preference in the Indicator settings ‘Inputs’ tab. The distance between the MA upper line and MA bottom line can be increased or decreased by increasing or decreasing the ATR Multiplier value in ‘Inputs tab’. Refer to diagram for more information. This is a non-repainting indicator.

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

You can also add Arrow Alerts to the charts to indicate when price/candle crosses in or out of the upper/lower bands on the MA-ATR Bands: (Page links and screenshot images below)

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

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

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 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.

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