A normalized true range by Larry Williams. The formula for the calculation:
ATR_Normalize=100 * MovingAvg (Close – Low, fast period) / (MovingAvg (True Range , slow period)
This is an indication of that it can be firmly and clearly defined when the price reaches peaks an falls to bottoms.
When the indicator is in the high zone, it usually portends that the security price will fall, and when it is in the lower area – says that prices will rise.
The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article “Averaging Price Series for Intermediate Calculations Without Using Additional Buffers”.
The original indicator was developed in the MQL4 language and published in the CodeBase on 13.01.2013.
MT5 Indicator – Download Instructions
ATR Normalize is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
ATR Normalize provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install ATR Normalize.mq5?
- Download ATR Normalize.mq5
- Copy ATR Normalize.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on ATR Normalize.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator ATR Normalize.mq5 is available on your Chart
How to remove ATR Normalize.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: