ATR PRO Indicator - Comprehensive Guide

🏆 Motto:

"Trade with Precision, Measure with ATR PRO – Your Daily Volatility Companion!"

📌 Overview

The ATR PRO indicator is a MetaTrader 4 (MT4) tool designed to display key market volatility metrics based on the Average True Range (ATR). It provides traders with real-time insights into daily price movements, remaining ATR capacity, and time left until the current candle closes.

Developed by R.KH 1001 and available on RoboMQL, this indicator helps traders gauge market volatility and make informed decisions.

🔧 How It Works

The indicator calculates:

ATR (Daily Average True Range) – The average price movement over a specified number of days.

ATR Consumed – How much of today's ATR has already been used (based on High-Low range).

ATR Remaining – The remaining volatility potential for the day.

Time Left – Countdown to the current candle’s closure.

Spread – Displays the current spread in pips.

It places these metrics in the top-right corner of the chart for easy visibility.

⚙️ Indicator Settings

Input Parameters:

ATR (Default: 5) – The number of days used to calculate the average true range.

font_size (Default: 13) – Adjusts the text size of displayed information.

Displayed Values:

ATR Day (X) – The average daily ATR in pips over the selected period.

ATR Used – Today’s price range in pips.

ATR Remaining – How much more volatility is expected based on historical ATR.

Time Left – Countdown to the candle close (in HH:MM:SS format).

Spread – Current market spread in pips.

🎨 Customization

The indicator uses color-coding for better readability:

Dodger Blue → ATR value

Gold → ATR Consumed/Remaining

FireBrick → Spread

MediumSeaGreen → Time remaining

📊 Practical Use Cases

Volatility Assessment – Helps traders identify whether the market has already moved significantly or if more movement is expected.

Trade Timing – The countdown helps in deciding when to enter/exit trades before candle close.

Spread Monitoring – Keeps track of trading costs in real-time.

🚀 Execution Logic

Calculates ATR based on the last X days (user-defined).

Updates in real-time, showing consumed and remaining ATR.

Displays a countdown until the current candle closes.

📌 Notes

Works on all timeframes but focuses on daily volatility.

Best used alongside other technical tools for confirmation.

👨‍💻 Developer & Source

Developer: R.KH 1001

Website: RoboMQL

🌟 Final Words

The ATR PRO indicator is a powerful yet simple tool for traders who rely on volatility analysis. By integrating ATR, time tracking, and spread monitoring, it enhances decision-making in fast-moving markets.

Trade Smart, Stay Ahead! 🚀