Author: Luis Guilherme Damiani
Are you looking to refine your trading strategy? The ATR Channels Cloud Indicator for MetaTrader 5 might just be what you need! This innovative tool uses three channels based on the Average True Range (ATR) indicator, built around a single moving average. What sets it apart is the visually appealing colored cloud that illustrates market trends, along with price labels showing the latest values. Plus, you can fine-tune the channel levels to your preference by rounding them to a specific number of digits.
To set the number of digits for rounding, simply adjust the Digit input:
input uint Digit=2; //Number of digits to round to
This indicator leverages the SmoothAlgorithms.mqh library classes, which you'll need to copy to your <terminal_data_folder>\MQL5\Include directory. If you want to dive deeper into how to utilize these classes, check out the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
Fig.1. The ATR Channels Cloud Indicator
Fig.2. The ATR Channels Cloud Indicator
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