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ATR Bands MT5

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Published: 6 September 2024

Current version: 1.0

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ATR Bands MT5

Indicators
Mykola Khandus
Version: 1.0

ATR Bands with Take-Profit Zones for MT5

Optimize your risk management and trading strategy with the ATR Bands indicator for MT5 – a powerful tool designed to help you navigate market volatility, identify key price levels, and set realistic stop-loss and take-profit targets.

Key Features:

ATR-Based Bands: The core of this indicator relies on the Average True Range (ATR) to calculate dynamic upper and lower bands that adapt to market volatility. The bands provide a clear indication of potential support and resistance levels based on recent price movement.
Customizable Parameters: Adjust the ATR Period and ATR Multiplier to match your trading style. Lower ATR periods result in more sensitive bands, while higher values smooth out short-term price fluctuations, allowing for longer-term trend analysis.
Upper Offset Source Options: Choose between using the closing price or wicks to define the band offsets, giving you flexibility to better account for market noise in volatile securities.
Take-Profit Zones: Enable optional take-profit bands that project potential profit targets based on a reward/risk ratio. These zones complement the ATR-based stop-loss bands and help you manage trades with better precision.

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If you liked the indicator, I will be glad to have a positive review. If you find any problems with the indicator, please contact me.

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