The Adaptive ATR Channel Forex indicator for Metatrader 5 delivers easy to follow buy/sell signals based on the ATR channel.
The indicator appears in the main chart as a gray colored ATR channel accompanied with green and orange colored buy/sell trigger lines.
A green colored line indicates a bullish trend while an orange colored line a bearish trend.
The Adaptive ATR Channel indicator can be easily combined with other trading indicators and Forex strategies.
- Buy/sell ATR channel based indicator
- 100% No-repaint indicator
- Works for any currency pair
- Works for any trade style
- Works for any time frame
- Beginner friendly indicator
- Programmed for Metatrader 5
The chart below shows the Adaptive ATR Channel Forex indicator attached to the EUR/USD 1-hour chart.
The Adaptive ATR Channel indicator for MT5 can be used in multiple ways, find a basic trading example below:
- Open a buy trade when the ATR channel is rising and the green signal line appears on the chart.
- Place your stop loss 3 pips below technical support.
- Exit the buy trade when a sell signal appears on the chart.
- Open a sell trade when the ATR channel is declining and the orange signal line appears on the chart.
- Place your stop loss 3 pips above technical resistance.
- Exit the sell trade when a buy signal appears on the chart.
How to install the Adaptive ATR Channel indicator in Metatrader 5?
- Copy the Adaptive ATR channel.mq5 indicator in the MT5 indicator folder
- Restart the trading platform
- Select and attach the indicator to any chart of your preference
How to remove the indicator from the chart?
- Click with your right mouse button in the chart
- Select the indicator list from the dropdown menu
- Remove the indicator from the list
- Press close