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 DAX30 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 Markets, the value can differ from 2 to 20 for Futures, Forex, CFD… But can go up to 5000 or more for Cryptos. 0 = Disabled. 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. When placing an alert, be sure to choose the “once per bar” option each time you place an alert. You can also use the “Any Call Function Alert” to place one Alert for all Alerts.
The content covered on this website is NOT investment advice and I am not a financial advisor.