ATR Volatility Alerts Indicator for MT4 and MT5

Written by Dominic Walsh · Published 27 May 2026 · Last updated 21 Sep 2026

A range figure on its own tells you a number. The atr volatility alerts indicator turns it into a judgement by comparing the reading against its own fifty-bar average, then speaking at two thresholds: half again as busy as usual, or barely over half as busy.

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
Alerts	popup, push notification, email, sound
Inputs	10

Plots, colours and placement

One plot, in a pane below price.

`ATR` traces dark orange at width 2.

The curve carries prices, not percentages.

Thresholds come from the two multiplier inputs.

Nothing is drawn on the candles.

No baseline curve sits beside it.

• ATR: line, dark orange, width 2

Working through the maths

The reading

`AtrPeriod` `14` smooths fourteen true ranges together. True range counts the gap from the previous close, so an opening jump registers where a plain high-minus-low would miss it.

Its own baseline

`AvgPeriod` `50` averages the reading itself over fifty bars. That baseline is what makes a threshold portable: it adapts to whatever the symbol has been doing lately.

The two thresholds

`HighMult` `1.5` marks a busy market and `LowMult` `0.6` marks a quiet one. Crossing either against the baseline is what raises a message.

Getting a signal from it

The curve alone is just a number.

Set against its baseline, it becomes a judgement.

So half again as busy is the upper trigger.

Barely over half as busy is the lower one.

Meanwhile a quiet stretch often comes before a big one.

Warm-up needs about sixty-five bars.

Alert channels in this build: popup, push notification, email and sound, one message per closed bar.

Two things speak here. The curve crossing its busy trigger, and crossing its quiet one. `EnableAlerts` is the master switch, the terminal box is open already, and the phone, mail and audio routes behind `SoundFile` all wait.

Every Atr Volatility Alerts Indicator input

Core settings

Setting	What it does	Default
AtrPeriod	Bars in the reading, `14`.	14
AvgPeriod	Bars in its baseline, `50`.	50
HighMult	Multiple of baseline counted as busy, `1.5`.	1.5
LowMult	Multiple counted as quiet, `0.6`.	0.6

Alert settings

Setting	What it does	Default
EnableAlerts	Master switch on both threshold messages, `true`.	on
EnablePopup	Terminal box, open already, `true`.	on
EnablePushNotify	Phone route, `false`.	off
EnableEmail	Mail route, `false`.	off
EnableSound	Desktop audio route, `false`.	off
SoundFile	Audio it reaches for, `”alert.wav”`.	alert.wav

Where it works best

Gold swings hard enough for both thresholds to matter, and the reference shot is XAUUSD H1. There the busy trigger fires around news and the quiet one during the Asian session. On a major pair the two fire less often.

The honest limits

Both triggers react after the change arrives.

A baseline built from recent bars drifts with them.

Quiet does not mean a move is coming.

Neither trigger hints at direction.

Copy the compiled Atr Volatility Alerts 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 Volatility Alerts Indicator for MT4 and MT5

The zip holds the compiled Atr Volatility Alerts 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.

FAQ

Why compare the reading against AvgPeriod 50?

Because a raw range figure means nothing on its own. Fifty bars of its own history gives a baseline, so one threshold setting covers gold and a quiet cross alike with no retuning per symbol.

What does LowMult 0.6 mark?

A market running at roughly sixty percent of its usual range. Traders watch for that because compression often comes before expansion, though it is a warning of possible change rather than a direction.

Is HighMult 1.5 a large jump?

It is half again the baseline, which on most charts means a news release or a session open. Lowering it produces more messages during ordinary trade; raising it keeps only the genuinely unusual bars.

Does AtrPeriod 14 account for gaps?

Yes. True range takes the widest of three measurements, and one of them reaches back to the previous close. An opening jump therefore counts in full rather than falling between two bars.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Atr Volatility Alerts Indicator as one input. Always backtest before trading live.