Here is a script based on the ATR but which unlike the traditional ATR using a Multiplier, here we use a signal filter by the Exchange of Prices between Ticks. The signals are represented on the chart by “Buy” (Green) and “Sell” (Red) Labels.
ATR Pip Control in action on S&P500 Index.
Here is the complete list of options present in this indicator :
- Pip Control : Filters ATR signals by the exchange of Prices between Ticks. Depending on the Financial Instrument used, the value can differ. Enter the number corresponding to the Number(s) after the decimal point of the current Financial Market price. If no comma is present, then the corresponding number is 0.. This tool is the result of a 5-year development strategy. Backtested at 70 – 84.5% (maximum) winrate in any market. This is what i use to take my positions on a daily basis. By selling this indicator, i’am also selling my strategy. This tool is also included in my Tsūrubokkusu Toolbox Indicator.
All options have their original default settings. You need to be able to readjust them depending on the market instrument you want to analyze. You have the possibility to put alerts which will notify you when an indicator gives a new signal. For this, we have united all the alerts in one thanks to the “Any Alert Function Call” option, simply activate or deactivate the options you want to have in your alerts before placing the alert.
The content covered on this website is NOT investment advice and I am not a financial advisor.