The ATR Pip Control indicator is a sophisticated tool designed for traders who seek to leverage market volatility with precision. Unlike a traditional ATR that relies on a fixed multiplier, this indicator incorporates dynamic coefficients and a filter based on price exchange between ticks or pips. This allows for more responsive and context-aware signal detection.

This indicator calculates upper and lower bands based on market volatility, using dynamic coefficients that adjust according to recent market conditions. This adjustment is achieved by normalizing the volatility ratio, providing a more adaptive approach to volatility measurement.

Signals are generated when the price exceeds the calculated bands, with a minimum threshold defined by the selected filter (ticks or pips). The indicator then confirms bullish or bearish signals based on price movements that surpass this threshold, ensuring that only significant price actions trigger alerts.

The ATR Pip Control indicator also features local end lines that mark the end of detected trends, visually representing the points where the market might reverse or consolidate. These lines are automatically plotted and updated on the chart, providing traders with clear visual cues to enhance decision-making.

Overall, the ATR Pip Control offers a refined approach to trading with the ATR, combining dynamic volatility adjustment with precise filtering to deliver actionable signals. This makes it an effective tool for traders who require a higher degree of sensitivity to market movements, particularly in volatile trading environments.

ATR Pip Control in action on a selected financial instrument.

    Complete list of features included in this indicator:

• Show Labels: Enable or disable the display of labels for the Average True Range (ATR) indicator. This allows you to manage chart visibility and focus on key signals.
• Bullish Color: Sets the color for the bullish signal, making it easier to visually identify bullish trends on the chart.
• Bearish Color: Sets the color for the bearish signal, making it easier to visually identify bearish trends on the chart.
• ATR Period: Defines the period for calculating the ATR. A shorter period makes the ATR more responsive to recent price changes, while a longer period smooths out volatility.
• Filter Type: Choose between “Tick” or “Pip” filtering for signals. This setting influences how signals are processed based on the price exchange method selected.
• Minimum Filter Value: Sets the minimum filter value for buy and sell signals, interpreted as either ticks or pips depending on the filter type.
• Upper Coefficient: Adjusts the sensitivity of the upper band used for detecting high points. A higher value increases the detection threshold.
• Lower Coefficient: Adjusts the sensitivity of the lower band used for detecting low points. A higher value increases the detection threshold.
• Show Local Ends: Enable or disable the display of local end lines, which are visual indicators marking the end of trends as determined by the ATR. This feature helps in identifying potential reversal zones.

All options come with default settings that can be customized based on the specific market instrument you are analyzing. You can also configure alerts to be notified whenever a new signal is generated by the indicator. These alerts are condition-based, allowing you to selectively enable or disable specific alerts according to your trading strategy.