Grid MATR
- Indicators
- Abraham Correa
- Version: 3.3
- Updated: 15 August 2024
X-axis lines prevail in grid manner, ruled by Average True Range. There’s an inevitable change in specific periods of time of this matter! The Average True Range (ATR) indicator is not directly based on volume; instead, measures volatility in price movements. This indicator original in its revealing customization, stretches, expand, shrink, and evolve with 4 timely choices of grid states! MATR means “multiplying average true range” in which grandeurs the grid pip-distant levels, seeming to grasp the wave of price. Constantly adapting with the ATR, I use the same periodical measurements to view the matter of the price roaming. The higher its value, the wider the actual period of time the ATR has become. This original code recognizes the participation on a chart, noticing the development in volume! This creates a map like structure that seem similar to the nature of other logical but plain Grids. Grids like coordinating 000 points on price, pivotal fibonacci. support and resistance and breakouts. Strategy of its own here with my application.
| | | | | this is an original indicator | | | | |
Matter a fact, strategy testing this indicator would allow you to review the history of the price pathway with ATR grid lines, powered by meaningful times in the forex market! Just like an expert advisor, there are a plethora of signaling taking place. But uniquely, it’ll show vital pressure points of how volume can vaguely form candlesticks! This indicator would give definition to the potency of price action, revealing average true ranges on any state and timeframe, you choose!
With expansions of the Grid, stretching would mean a larger volume of chart participants while a less volume gives a grid a narrower range, tightening.
Theoretically you would be able to combine this with any other strategy, evaluating trends, sighting bull and bear battles, and why price would reverse. If you have any other inquiries, questions, or comments, tell me and I’ll let you know. Plain but omnipotent are support and resistances coordinating with candlesticks, like a shelf of a library. Last but not least, the price levels theoritecally breakout among the matter of support and resistance.If you were to click on the gifs attached, you'd see it in action!
State 1: The Foreign Exchange market Sessions evolve thoroughly | ATR Grid ranges thoroughly from one trading session “to the next”. It makes use of the Open high low and close from previous sessions for calculation. Forex trading continues around the clock, but volume and liquidity peak during these major financial center sessions when more banks are actively trading currencies.
State 2: Previous Candlestick Count in Time (>1) | ATR grid ruled by a previous candlestick (>1) in a given Timeframe
State 3: 12 hrs --> 12 hrs (AM to PM) | Grid MATR changes twice every 24 hours
State 4: Forex Sessions evolving per say (1=1)(2=2)(3=3)(4=4) | Forex Sessions in Average True Range Grid are dependent on their own sessions, coherent to another. Similar to State 1, the only difference is it uses the previous session price of a particular session to calculate its Grid ATR. For example, if the new session is London session then it will calculate grid using value from previous London session from the day before. This type of grid ATR will match each session to corresponding session. NY to NY, London to London, etc. (1=1 | 2=2 | 3=3 | 4=4)
To calculate the Grid of these states, you have to Identify the number of bars back for which you want to calculate the Grid ATR. This is usually done by selecting a specific time frame, such as the past 10 days or the past month. Then for each state calculate the true range, add it all up and divide by the bars back to get the ATR. Remember that each timeframe has different ATR, mind over matter would suggest where potential support and resistance may be. Off from my studying with chart overview and how often I'd like to see a profit, choosing the m15 timeframe would be the go-to.
( ( ( Expanding the Grid's ATR is customizable to your preference with AN INCLUDED MINIMUM AND MAXIMUM LIMIT BASED VARIABLE.) ) )
In respects of the makers which shockingly grew great alongside the same timeline as AI prospective evolution: Emmanuel & Abraham