Setting up a Custom ATR
The Custom ATR option allows you to use an external Average True Range indicator (ATR) in your algorithm instead of the basic ATR.
You can see examples of Custom ATR indicators here: https://nnfxalgotester.com/help/custom-atr/
How the Custom ATR option works:
You can see in the image below an example of Custom ATR. This is usually a line but can also be in the form of bars or symbols.
- The value of the custom indicator will be used instead of the basic ATR. This value will be used for all the functions that require the ATR, such as the calculation of targets, trailing SL, strategy rules, etc.
Custom ATR configuration:
In the "Indicator Parameters" section, after placing the indicator inputs, the path and name of the indicator must be added, as well as the buffer representing the ATR value. All of these parameter groups must be indicated, each group separated by a semicolon.
You should select a buffer that indicates the Forex pair ATR value over time in points.
The indicator should be placed in MT4's indicators folder (MQL4\Indicators).