Can anyone explain this ATR indicator

I have this atr indicator - simply called ATR Levels, which prints ATR lines - it uses two lines it labels as ATR(y) and ATR(t) - for the life of me i cannot figure out what the 't' and 'y' mean - probably something pretty simple , i just dont get it.

Does anyone know what its referring to ?
Found here: http://codebase.mql4.com/539

Thx

It would appear to be the high and low atr levels. Based on a 10 day average. The y line is yesterday levels and the t line is today levels.

'yesterday' and 'today' ?? as simple as that .. see !

lol thx

Could someone have a look at the attached indicator and explain what it is looking at?

I found a short description that states:
"The indicator is based on the Bollinger Bands on three different shifts, the Average True Range and the Keltner channels."

I just don't know which input parameters relate to which indicators listed above.

Any help would be greatly appreciated.

Regards,
Jondgls

jondgls, what you have here is a decompiled version of another indicator. I believe the original indicator is called atr channels.mq4
It would appear the same without the comments. The indicator is based on a moveing average plus an atr and then times the band factor. I don't remember if I saw the indy here or on the tsd site. But search both you will find it.

Hope that helps you

Thanks twj1usa.

Are you aware of any EA's that trade based on this indicator? I'm working on writing my own but if one exists, no need to re-invent the wheel!

Regards,
Jondgls

HI Jondgls, First please don't take me as rude here I am just making general comments and my humble opinion.

First I am probably not the best at answering ea questions as I don't use them. I have coded maybe two for myself but they didn't work so that was that. There are much better coders here than me for ea help.

Having said that and keeping in mind I don't know your system and whatelse you have to go with this indicator. I would not base anything on a decompiled indicator like this one. Decompilers work in a generic function and often do not grab the entire formula or method as originally written. So I would look for the original or look at the atr channel I mentioned previously. With this one you just can not be sure if it is working in a proper fashion. As for an Ea based on this, I am sure it does exist as that is where this indi came from. Someone tried to get how it works and paid to have it decompiled. I would not bet that the Ea is based solely on this indicator though. So I am sure there is more to the method than you have. The indicator acts like bolinger or keltner bands so maybe you can look at a few Ea's based on those for some further idea. Again I do not know whatelse you currently have and you just might have what you need. I would also search ff or tsd for this indicator and you may find the original, or you may find the thread that was developing a possible Ea based on it. My bet is someone took the original atr channel indi, changed the name and developed a commercial product out of it.

Again this is just my opinion here, if I am wrong someone will correct me. If you do need the Atr channel indi, let me know I have it on a backup drive and I will dig it out if you need it.

Good Luck