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ATR indicator for MT4

  • #41
  • Quote
  • Edited 3:11am Jan 16, 2025 2:27am | Edited 3:11am
Quoting RoelsMajor
{quote} Actually, what I mainly need is just the ATR derived from the ADR (in pips) with a specific period. For example, today before the London session, I monitored 8 pairs that have a range above 99 pips ...
hi Roels

i had some time and made some changes to the dashboard.

i used the mql4 atr formula, and incorporate a lots size calculator based on stop loss (pips) and risk % to take.

for the lots size calculator i picked the formulas in this indicator

https://www.forexfactory.com/thread/...9#post13864009

..and a pips filter to highlight the pairs with adtr above 99 or another value.

i believe that is all correct, but if not let me know and we change it (:

Attached Image (click to enlarge)
Click to Enlarge Name: rm1.png Size: 23 KB






Attached Image (click to enlarge)
Click to Enlarge Name: rm2.png Size: 12 KB





Attached File(s)
File Type: mq4 PairsAll_ATR_rm2.1.mq4   34 KB | 48 downloads



have a nice day (:

edit: made another filter to highlight ranges surpassed
  • #42
  • Quote
  • Jan 16, 2025 3:57pm Jan 16, 2025 3:57pm
Quoting RoelsMajor
{quote} Actually, what I mainly need is just the ATR derived from the ADR (in pips) with a specific period. For example, today before the London session, I monitored 8 pairs that have a range above 99 pips (because my method requires a minimum Stop Loss of 33 pips). Additionally, there is 1 exceptional pair, EURNZD, with a range of about 97 pips. So, I will likely only trade those pairs from the 28 available pairs. It’s very useful as a filtering tool. From that, I can calculate the risk for 1 unit. For example, on GBPJPY today, 1/3 of the range...
Just to continue with how I see and use ADR, check this chart, ADR 10 or 60, same reading. With the market ranging this week, so glad to see a pair go the full ADR and hit TP. I guess with 99 pips range requirement, you never see this pair, all the best.

Attached Image (click to enlarge)
Click to Enlarge Name: 2025-01-17_6-48-19.jpg Size: 531 KB
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  • #43
  • Quote
  • Edited Jan 17, 2025 12:09am Jan 16, 2025 11:40pm | Edited Jan 17, 2025 12:09am
Quoting luisinho
{quote} hi Roels i had some time and made some changes to the dashboard. i used the mql4 atr formula, and incorporate a lots size calculator based on stop loss (pips) and risk % to take. for the lots size calculator i picked the formulas in this indicator https://www.forexfactory.com/thread/...9#post13864009 ..and a pips filter to highlight the pairs with adtr above 99 or another value. i believe that is all correct, but if not let me know and we change it (: {image} {image} {file} have a nice day (: edit: made another filter...
Hello Iusinho,
Thank you again for your efforts. Here's my feedback:
Regarding the indicator, it works very well. However, is there a way to display only the ADTR while hiding the AWTR?

Then I think the lot size calculation is somewhat inaccurate. The best option is still Hanover's simple calculator with the formula: size_in_lots = (% equity_to_risk / 100) x account_equity / pips_from_entry_to_SL / dollars_per_pip_moved). In the image, it shows that 41 pips of risk (0.71%) requires 6.72 lots (USDJPY). However, in my case, for example, on my 25k Blueberry funded account with 1:30 leverage, I only need 0.67 standard lot (USDJPY, pip value now 6.43, risk 0.71%) to open one position with a margin level of around 1200%. If I open two positions, the margin level might drop to around 500%, which is still safe according to the 150% margin level rule. Could this possibly be due to an error in decimal placement?

Oh, and please ignore the fact that the calculator in the image uses a comma (Indonesian format) instead of a dot, which is used in Europe and the US.

I’ve included the Pip Value Light indicator to calculate pip values, but in ex.4. I no longer have a decompiler that works properly.

Thanks a lot

Quoting Erebus
{quote} Just to continue with how I see and use ADR, check this chart, ADR 10 or 60, same reading. With the market ranging this week, so glad to see a pair go the full ADR and hit TP. I guess with 99 pips range requirement, you never see this pair, all the best. {image}
Yes, there are many pairs I’m not really interested in, but everything can be traded. They’re actually good for scalpers, but when converted to risk, it’s quite challenging. A risk of 1/3 range for CADCHF with an ADR of 14 is 13.7 pips, I need a risk of around 33 pips and above; that seems appropriate.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: XAUUSD.piH1.png Size: 24 KB
Click to Enlarge Name: Blueberry Markets MetaTrader 4 Margin 2 position.png Size: 5 KB
Click to Enlarge Name: Untitled.jpg Size: 71 KB
Attached File(s)
File Type: ex4 PipValueLite.ex4   11 KB | 34 downloads
And, behold, with every hardship comes ease:
  • #44
  • Quote
  • Edited 3:46pm Jan 17, 2025 3:30pm | Edited 3:46pm
Quoting RoelsMajor
{quote} Hello Iusinho
hi Roels.

Quote
However, is there a way to display only the ADTR while hiding the AWTR?

sure .. i made some changes and now we can have one or two atr blocks. we can choose the timeframe and number of periods to consider to each one.

Quote
Then I think the lot size calculation is somewhat inaccurate

you are right, it was ... my mistake, i assumed the indicator i copied the formulas from was correct and didn't check properly.
the indicator was using a point money value, which is 1/10th of a pip value, and that was making the lot's amount ten times bigger.
it's fixed now.

in lot's size calculation, that is the formula used, and i included an option to do it with account balance or account equity (we can select in indicator inputs).

Quote
Oh, and please ignore the fact that the calculator in the image uses a comma (Indonesian format) instead of a dot, which is used in Europe and the US.

no problem .. here in Portugal we also use a comma instead of a dot .. perhaps some mt4 configuration that makes the dot instead of a comma.. don't know .. all good


about the calculator.. the order of the pairs will be the order of the first block, or of the second if we choose to have it.

the other formulas used in calculations ( i think they are correct) are:

risk value = (risk % * 0,01) * account balance (or account equity if we had choose it for calculations)
margin = lot's * margin per lot
equity % = (lot's * margin per lot) / account equity * 100.


.. the look ..

Attached Image (click to enlarge)
Click to Enlarge Name: rm1.png Size: 25 KB


Attached Image (click to enlarge)
Click to Enlarge Name: rm2.png Size: 22 KB



Attached File(s)
File Type: mq4 PairsAll_ATR_rm2.2.mq4   40 KB | 43 downloads


also fixed the other indicator, in case someone want to use it
Attached Image (click to enlarge)
Click to Enlarge Name: rm3.png Size: 3 KB




Attached File(s)
File Type: mq4 Lot_Size_calculator.mq4   41 KB | 38 downloads


i think that's all good, but if not let me know and we fix it.


have a nice day / weekend


Edit: forgot to put the image of the other indicator.
  • #45
  • Quote
  • Last Post: Jan 18, 2025 1:07am Jan 18, 2025 1:07am
Quoting luisinho
{quote} hi Roels. {quote} sure .. i made some changes and now we can have one or two atr blocks. we can choose the timeframe and number of periods to consider to each one. {quote} you are right, it was ... my mistake, i assumed the indicator i copied the formulas from was correct and didn't check properly. the indicator was using a point money value, which is 1/10th of a pip value, and that was making the lot's amount ten times bigger. it's fixed now. in lot's size calculation, that is the formula used, and i included an option to do it with...
Great! Now it seems more perfect. I will try this calculator on Monday when the market opens because right now, it doesn't seem to be working. Thanks a lot Bro.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD.piM15.png Size: 17 KB
And, behold, with every hardship comes ease:
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