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Using an ATR That Resets at the Start of Each Chart Period

Article MQL5 code base
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Summary

This brief indicator description defines an Average True Range that restarts at the beginning of a new period. The reset interval depends on the chart timeframe: daily for intraday charts, weekly for daily charts, and monthly for weekly charts. The result can be used in the same general way as a conventional ATR.

The document gives no formula, parameter settings, trading rules, examples, or performance evidence. It therefore explains the indicator’s reset behavior but leaves its calculation details and usefulness for a particular strategy unspecified. Traders would need to verify how their platform implements the period boundaries before relying on the measure.

Key ideas

  • The indicator resets its ATR calculation at the start of each applicable chart period.
  • Intraday charts reset daily, daily charts reset weekly, and weekly charts reset monthly.
  • The description suggests using it like a standard ATR but provides no specific trading rules or evaluation.

Tags

Technical indicatorsVolatility

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.