Volatility does not respect the chart you happen to have open. The atr mtf indicator takes that seriously: it reads its range figure from the higher chart named in its own input, matches each of your bars to the higher bar covering it, and draws one line from that.
This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from XAUUSD H1.
| Platforms | MT4 (.ex4) + MT5 (.ex5) |
|---|---|
| Chart window | Separate window |
| Plots | 1: ATR (higher TF) |
| Alerts | popup, push notification, email, sound |
| Inputs | 8 |
Which plots exist
One plot, in a pane below price.
`ATR (higher TF)` traces crimson at width 2.
The line steps where a higher bar changes.
Values are prices, not percentages.
Nothing appears on the candles themselves.
No second line accompanies it.
- ATR (higher TF): line, crimson, width 2
What the file computes
The range figure
`AtrPeriod` `14` is Wilder’s own window. Each bar’s true range accounts for gaps as well as its own high and low, and fourteen of those get smoothed together.
Matching the bars
Your bar’s timestamp is looked up on the higher chart. Whichever higher bar covers that moment supplies the value, so several of your bars share one figure.
Which chart it reads
`HigherTF` `PERIOD_H4` names it. Set it to anything slower than your chart and the mapping holds; set it equal and the tool becomes an ordinary range reading.
How to interpret it
A rising line means bars are getting larger.
Steps mark where a higher bar rolled over.
Range says nothing about direction.
Values are in the symbol’s own price units.
Comparing two symbols by this line is meaningless.
Warm-up needs fourteen higher bars.
Alert channels in this build: popup, push notification, email and sound.
`EnableAlerts` decides whether anything speaks and the terminal box is the route already open. A phone, mail and the desktop clip named by `SoundFile` can each take it once you switch them on.
Every Atr Mtf Indicator input
Core settings
| Setting | What it does | Default |
|---|---|---|
AtrPeriod |
Bars in the range figure, `14`. | 14 |
HigherTF |
Chart the figure is read from, `PERIOD_H4`. | PERIOD_H4 |
Alert settings
| Setting | What it does | Default |
|---|---|---|
EnableAlerts |
Whether the reading speaks at all, `true`. | on |
EnablePopup |
It arrives as a terminal box, `true`. | on |
EnablePushNotify |
A phone can take it, `false`. | off |
EnableEmail |
Mail can take it, `false`. | off |
EnableSound |
The desktop can play it, `false`. | off |
SoundFile |
What it plays, `”alert.wav”`. | alert.wav |
Choosing a timeframe
Gold is where a range reading earns its keep, which is why the reference shot is XAUUSD H1. Four of those bars sit under each H4 figure. Run it on M15 and sixteen do. Open it on H4 itself and the mapping does nothing.
Where the method fails
Range widens after a move, never before it.
A stepped line hides what happened inside the step.
Price-unit values cannot be compared across symbols.
One line offers no confirmation of anything.
Copy the compiled Atr Mtf Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.
Download the Atr Mtf Indicator for MT4 and MT5
The zip holds the compiled Atr Mtf Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.
Download this indicator free
Enter your email and the file is yours. You also get the full MT4 and MT5 library.
FAQ
What does HigherTF PERIOD_H4 change?
Which chart the range figure comes from. The whole calculation runs on H4 bars, so the line describes four-hour volatility no matter how fast the chart you have open happens to be.
Why does the ATR (higher TF) plot look like steps?
Because one higher-chart value covers several of your bars. Every bar under the same H4 candle carries the identical figure, and the line only moves when a new H4 bar begins.
Is AtrPeriod 14 measuring percentages?
No, prices. The value is in the symbol’s own units, so a reading of 1.50 on gold means a dollar fifty. That makes the number useful on one chart and meaningless compared against another.
Does the ATR (higher TF) line show direction?
Nothing at all. True range measures how far a bar travelled, up or down, and smooths that. A high reading says bars are large; which way they went is a separate question entirely.
Are results guaranteed?
No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Atr Mtf Indicator as one input. Always backtest before trading live.
Category: this is part of our Volatility collection. Thus, truly, yet, browse more Volatility for MetaTrader, or explore every MT4 indicator and MT5 indicator on the site.
External references
- For background on this concept, see Volatility clustering on Wikipedia.
- For broader market context, see Volatility Indices at StockCharts ChartSchool.
About the author
Written by Dominic Walsh, a Forex trader and MT4/MT5 indicator, Expert Advisor and script developer. Every tool on forexmt4systems.com is tested on live charts before release and ships with ready-to-use compiled MT4 (.ex4) and MT5 (.ex5) files. Learn more about the trader and developer behind this site.
How we build, test and correct every tool: Editorial & Testing Policy. Trading carries risk; see the disclaimer.