Wilders Average True Range for MT5
- Indicators
- Fernando Carreiro
- Version: 1.0
This indicator implements the original “Average True Range (ATR)” developed by John Welles Wilder Jr., as described in his book—New Concepts in Technical Trading Systems [1978].
It uses Wilder’s moving average, also known as the smoothed moving average (SMMA), instead of a simple moving average (SMA) as used on MetaTrader’s built-in ATR indicator. The default period applied is 7, instead of 14, as per the description in his book.