STS ATR MTF Indicator for Meta Trader 4 shows the value in Pips, Points or in the Quote currency of ATR (Average True Range) indicator. It follows and displays the ATR values on all timeframes from M1 to MN1 in the lower left corner of your chart.
Depending on the market you are trading, you can choose to display the value of the ATR in Pips, Points or in the Quote currency. That way you can see more relevant data.
For example, choosing Quote currency will facilitate your trading in the Crypto markets or the Precious Metals markets, where STS_MTF_ATR Indicator will show you the currency value of the ATR. When trading Indices, you can set the ATR in points, where one point is equal to one unit change in the price of the index. Pips are the perfect solution for all currency pairs in the Forex market. As pip is the most widely used measure for one-unit change, this way of presenting the ATR is most facilitating.
The indicator helps you to quickly check the Average True Range on all timeframes and correctly calculate the level of the Stop-Loss and Take Profit of your positions. The ATR period is adjustable.
