In this overview we would like to tell about the ATR Channels indicator which task is in simultaneous building of several price channels, using for this purpose moving average and an indicator value of ATR.
It is placed in the section Indicators - "Channel building"
It looks like that at the chart:
In settings of this indicator, it is possible to expose the coefficients for each price channel to expand or narrow each channel separately.
The PERIODS ATR parameter allows to make channel lines broken or smooth, depending on what data of the channel it will be used.
Very good option of this indicator is the capability to expand and reduce the channel line during high and low volatility. It allows to find good points of entry.
PeriodsATR – ATR period.
MA_Periods – the moving average period (the line in the center)
MA_type – a moving average method:
0 — simple sliding average (SMA),
1 — exponential sliding average (EMA),
2 — smoothed sliding average (SMMA),
3 — linearly - weighed sliding average (LWMA);
Mult_Factor1 – coefficient of the internal channel;
Mult_Factor2 – coefficient of the average channel;
Mult_Factor3 – coefficient of the external channel.
The ATR Channels indicator in trade can be used as to opening for Sell and Buy from red lines, and to exposure of Stop loss.
Also on these lines of the channel it is possible to move to withoutloss by movement of the price. We wish you high profit.