ATR Levels Indicator

ATR Levels Indicator

Forex BUY and SELL signals from the best ATR Levels Indicator. Plots support and resistance levels on the chart.

The ATR Levels Indicator is an MT4 indicator that plots support and resistance levels to tell the direction of the trend. The traditional Average True Range Indicator draws a simple moving average below the main window. The Indicator draws two resistance and two support levels for the trend’s direction.

The upper resistance level is called the ATR (y), while the lower resistance level is called the ATR (t). Conversely, the first support level is called the ATR (y), while the second support level is the ATR (t). The Indicator works best on longer timeframes, as it can produce false signals on shorter timeframes.

ATR Levels Indicator BUY/SELL signals

The above GBP/USD chart shows BUY and SELL signals with the ATR Levels Indicator. To determine the BUY and SELL signals, traders must look for the support and resistance levels. When the price goes above the upper resistance levels, it signifies a strong downtrend. Here, traders can enter short positions or exit long ones.

Conversely, when the price goes near the first support level, it’s a sign of an uptrend, and traders can enter long. Traders must wait for the price action to continue upward or downward and then take positions. Traders can also apply the Indicator with other indicators like the RSI or MACD for further signal confirmation.

Conclusion
The ATR Levels Indicator draws two support and two resistance levels to show the direction of the trend. Through these levels, traders can enter long or short positions. In addition, you can download the ATR Levels Indicator for free from our website.