Slope Scanner (ATR) V1.4 MT4 MT5
The SlopeScanner(ATR) V1.4 is an essential tool for measuring market volatility and managing risk. It provides traders with a dynamic understanding of price movement intensity, helping set smarter stops, gauge trend strength, and anticipate potential market surges. By quantifying the degree of price fluctuations, the ATR allows traders to adapt their strategies to changing market conditions, whether trending or ranging.
✅ Key Features
| Feature | Description |
|---|---|
| ➤ Multi-Pair Monitoring: | Track multiple currency pairs in a single, consolidated dashboard. |
| ➤ Multi-Timeframe Analysis: | Evaluate volatility momentum across various timeframes (M1 through MN1). |
| ➤ Smart Trend Detection: | A rising ATR indicates increasing market volatility, while a falling ATR shows decreasing volatility. |
| ➤ Customizable ATR: | Set your preferred ATR period. (Default: 14) |
| ➤ Real-Time Alerts: | Get Metatrader alerts immediately when volatility changes. |
| ➤ Color-Coded Visuals: | Easy-to-interpret color signals indicating bullish, bearish, or neutral trends. |
| ➤ Clean & Compact Layout: | Well-organized display that fits neatly on your chart without clutter. |
💡 How It Works
A rising ATR indicates increasing market volatility, suggesting that price swings are becoming more intense, while a falling ATR reflects decreasing volatility and calmer market conditions. Traders often use ATR to set dynamic stop-loss levels that adjust according to market movement, ensuring protection without being prematurely stopped out during normal price fluctuations.
Breakout Confirmation: Sharp spikes in ATR can help confirm that a breakout or strong price move is gaining momentum. While ATR does not indicate the direction of a move, combining it with trend indicators provides valuable insight into the strength of trends and potential market surges, allowing traders to time entries and exits with greater confidence.
⚙️ Input Parameters
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