Median Price Channel Using ATR Deviations from the Range Midpoint
Summary
The Median indicator builds a channel from average true range deviations measured around the midpoint of a range defined by price extremes. It displays that midpoint and a signal line as a colored cloud, providing a visual reference for price location and possible directional shifts.
The document gives only a brief description of the construction and display. It does not specify formulas, parameter choices, trading rules, market examples, or performance evidence. The indicator was originally written in MQL4 and published in 2008; those details establish its history but do not validate its usefulness. Traders would need the underlying implementation and independent testing to determine how to interpret the cloud, how it behaves across instruments and timeframes, and whether it adds value beyond other volatility or trend tools.
Key ideas
- The indicator measures ATR deviations relative to the midpoint of a range defined by price extremes.
- It displays the range midpoint and a signal line together as a colored cloud.
- The description does not provide entry rules, parameter settings, or performance evidence.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.