Creating bands using ATR | Forex Factory

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Creating bands using ATR

  • #1
  • First Post: Feb 12, 2008 1:57pm Feb 12, 2008 1:57pm
Hi

I'm trying to create bands using Average True Range rather than standard deviation centred around the 20EMA.

Before I start learning how to program MT4, does anyone know whether this is available within the standard indicators of MT4 or if not, whether there is code available somewhere?

Thanks
  • #2
  • Feb 12, 2008 2:27pm Feb 12, 2008 2:27pm
I was just thinking about it !!! I don't know any existing codes for it. I have to search for it.

chandra
  • #3
  • Feb 12, 2008 2:41pm Feb 12, 2008 2:41pm
You should look under Keltner channel
the definition : http://en.wikipedia.org/wiki/Keltner_channel
indicator :
Attached Image (click to enlarge)
Click to Enlarge Name: keltner.gif Size: 13 KB
Attached File(s)
File Type: mq4 Keltner Channel.mq4   3 KB | 1,344 downloads
  • #4
  • Feb 12, 2008 2:48pm Feb 12, 2008 2:48pm
double findAvg(int period, int shift)
{
double sum = 0;
for(int x = shift; x < (shift + period); x++)
{
sum += High[x] - Low[x];
}
sum = sum / period;
return(sum);
}

Wow, what an unbelievably hard way to do this. Why didn't metaqoutes just code

iATR(NULL,0,period,x) this would replace all this code...

But you are right this is a atr band.
  • #5
  • Feb 12, 2008 3:19pm Feb 12, 2008 3:19pm
sum/=period;
  • #6
  • Feb 12, 2008 3:47pm Feb 12, 2008 3:47pm
Quoting lucidlamp
sum/=period;
Sweet..
  • #7
  • Feb 12, 2008 8:55pm Feb 12, 2008 8:55pm
lol
  • #8
  • Feb 13, 2008 6:57pm Feb 13, 2008 6:57pm
Quoting mladen
You should look under Keltner channel
the definition : http://en.wikipedia.org/wiki/Keltner_channel
indicator :
Hi Mladen,

Thank you for the code and link.

Regards,
chandra
  • #9
  • Feb 13, 2008 8:00pm Feb 13, 2008 8:00pm
Quoting rogerta
Hi

I'm trying to create bands using Average True Range rather than standard deviation centred around the 20EMA.

Before I start learning how to program MT4, does anyone know whether this is available within the standard indicators of MT4 or if not, whether there is code available somewhere?

Thanks
hi,

I just needed the same and I did it the hard way. I wrote my own indicator to do just that. it is customizalbe, you can change the Bands range, Moving average calculation, price and time period as well. if you still need it ket me know and I will send you the indicator. thanks
  • #10
  • Feb 15, 2008 8:20am Feb 15, 2008 8:20am
Quoting rogerta
Hi

I'm trying to create bands using Average True Range rather than standard deviation centred around the 20EMA.

Before I start learning how to program MT4, does anyone know whether this is available within the standard indicators of MT4 or if not, whether there is code available somewhere?

Thanks
hello,

I am attaching the ATR Bands indicator. It is totally customizable. if you have any questions, let me know. Thanks
Attached File(s)
File Type: mq4 _My Keltner Channel.mq4   3 KB | 913 downloads
  • #11
  • Feb 24, 2008 11:46am Feb 24, 2008 11:46am
Thanks for the responses.

Would it be fairly straight forward to add an additional band. Basically I want two bands, one at 1 x ATR around the 20EMA and another band at 2 x ATR again around the 20EMA?

Thanks
  • #12
  • Last Post: Feb 25, 2008 3:05am Feb 25, 2008 3:05am
the easiest way to do that is to apply the indicator twice to the same chart and set different settings on both instances... or you can add as many bands as you wish to the code if you knwo how to program... if you want to add a band and dont know how I can modifiy the indicator and send you a copy.. again...

but as I told you just apply the indicator twice and set desired settings on both. set one for 2atr AND the other for 1atr. simple...

thanks
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