# SmartATR MT5  
Adaptive, Volume & News-Weighted ATR Indicator for MetaTrader 5

by Steve Rosenstock  
Open Source Project – https://forge.mql5.io/steverosenstock/SmartATR

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## Tags
MT5 · indicator · volatility · ATR · adaptive · news · volume · alerts · open-source · trading · technical-analysis · forex · context · community

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## About

**SmartATR MT5** is a next-generation, open-source volatility indicator for MetaTrader 5 that upgrades the classic Average True Range (ATR) for modern traders:

- **Adaptive period:** Automatically adjusts ATR length to market regime (volatile = faster, calm = smoother)
- **Volume weighting:** True Range is weighted by tick volume to emphasize real price moves
- **News detection:** Bars with medium/high-impact economic events are detected using native MT5 calendar
- **Visual overlays:** News bars are highlighted directly in the indicator window
- **Pro-level alerts:** Real-time pop-up and sound alerts when volatility spikes
- **Fully documented, open code:** Ideal for risk management, strategy design, and learning

**SmartATR MT5 is built for professional, transparent, and community-driven trading.  
No more “blind” volatility measures—see what the market really does!**

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## Features

- **Adaptive ATR period:** Period shortens/lengthens with market volatility
- **Volume weighting:** Counts only significant, high-volume true ranges
- **News detection:** Bars with medium/high-impact news are flagged (native MT5 calendar)
- **Chart overlay:** Highlights news events for instant visual reference
- **Pop-up & sound alerts:** Notified instantly when ATR exceeds defined threshold
- **Modular, commented code:** Made for further extension and automation
- **Open source:** For real traders, strategists, and developers

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## Repository

- Project page: [SmartATR on forge.mql5.io](https://forge.mql5.io/steverosenstock/SmartATR)
- Git URL: https://forge.mql5.io/steverosenstock/SmartATR.git
- Author: Steve Rosenstock

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## Installation

1. Download `SmartATR.mq5` from this repository
2. Copy the file into your MetaTrader 5 `/MQL5/Indicators/` folder
3. Open MetaEditor, compile the indicator
4. Attach SmartATR to any chart (all asset classes and timeframes supported)

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## Inputs

| Name            | Description                                          | Default    |
|-----------------|-----------------------------------------------------|------------|
| ATR_Period      | Initial ATR period (adaptive logic applies)         | 14         |
| Adaptive_Mode   | Enable adaptive period adjustment                   | true       |
| Min_Period      | Minimum ATR period (adaptive mode)                  | 7          |
| Max_Period      | Maximum ATR period (adaptive mode)                  | 28         |
| Volume_Filter   | Enable volume weighting of True Range               | true       |
| News_Filter     | Enable economic news bar detection (MT5 calendar)   | true       |
| Alert_Threshold | Multiplier for ATR alerts (spike vs. mean)          | 2.0        |
| Enable_Alerts   | Enable pop-up & sound alerts for high volatility    | true       |

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## How SmartATR MT5 Works

- **ATR calculation:** EMA-style smoothing of True Range
- **Adaptive logic:** Period shortens in high volatility, lengthens in low volatility
- **Volume weighting:** True Range is weighted by recent tick volume
- **News detection:** Flags bars with economic news using the MT5 calendar API
- **Alerts:** Pop-up (and/or sound) if ATR exceeds a multiple of the rolling average

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## Example Output

- **Blue line:** SmartATR value (real-time volatility)
- **Red/orange bars:** Overlay on bars with news events (impact: medium/high)
- **Alerts:** Pop-up and/or sound on abnormal volatility

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## For Developers

- Code is modular, clear, and fully commented for custom overlays, alerts, and more
- Hooks for integrating into your EAs, strategies, and trading dashboards
- Forks, pull requests, bug reports, and suggestions always welcome!

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## Repository

https://forge.mql5.io/steverosenstock/SmartATR  
https://forge.mql5.io/steverosenstock/SmartATR.git

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## License

MIT License – Free for all personal, professional, and commercial use.

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## About the Author

Developed and maintained by **Steve Rosenstock**  
If you like this project or have ideas for improvements, your contribution is always welcome!

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**SmartATR MT5 – The open-source, adaptive volatility tool for serious MetaTrader traders.  
Know your risk. Trade with context!**