121 lines
4.4 KiB
Markdown
121 lines
4.4 KiB
Markdown
# SmartATR MT5
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Adaptive, Volume & News-Weighted ATR Indicator for MetaTrader 5
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by Steve Rosenstock
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Open Source Project – https://forge.mql5.io/steverosenstock/SmartATR
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---
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## Tags
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MT5 · indicator · volatility · ATR · adaptive · news · volume · alerts · open-source · trading · technical-analysis · forex · context · community
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---
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## About
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**SmartATR MT5** is a next-generation, open-source volatility indicator for MetaTrader 5 that upgrades the classic Average True Range (ATR) for modern traders:
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- **Adaptive period:** Automatically adjusts ATR length to market regime (volatile = faster, calm = smoother)
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- **Volume weighting:** True Range is weighted by tick volume to emphasize real price moves
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- **News detection:** Bars with medium/high-impact economic events are detected using native MT5 calendar
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- **Visual overlays:** News bars are highlighted directly in the indicator window
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- **Pro-level alerts:** Real-time pop-up and sound alerts when volatility spikes
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- **Fully documented, open code:** Ideal for risk management, strategy design, and learning
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**SmartATR MT5 is built for professional, transparent, and community-driven trading.
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No more “blind” volatility measures—see what the market really does!**
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---
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## Features
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- **Adaptive ATR period:** Period shortens/lengthens with market volatility
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- **Volume weighting:** Counts only significant, high-volume true ranges
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- **News detection:** Bars with medium/high-impact news are flagged (native MT5 calendar)
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- **Chart overlay:** Highlights news events for instant visual reference
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- **Pop-up & sound alerts:** Notified instantly when ATR exceeds defined threshold
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- **Modular, commented code:** Made for further extension and automation
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- **Open source:** For real traders, strategists, and developers
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---
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## Repository
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- Project page: [SmartATR on forge.mql5.io](https://forge.mql5.io/steverosenstock/SmartATR)
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- Git URL: https://forge.mql5.io/steverosenstock/SmartATR.git
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- Author: Steve Rosenstock
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---
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## Installation
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1. Download `SmartATR.mq5` from this repository
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2. Copy the file into your MetaTrader 5 `/MQL5/Indicators/` folder
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3. Open MetaEditor, compile the indicator
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4. Attach SmartATR to any chart (all asset classes and timeframes supported)
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---
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## Inputs
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| Name | Description | Default |
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|-----------------|-----------------------------------------------------|------------|
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| ATR_Period | Initial ATR period (adaptive logic applies) | 14 |
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| Adaptive_Mode | Enable adaptive period adjustment | true |
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| Min_Period | Minimum ATR period (adaptive mode) | 7 |
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| Max_Period | Maximum ATR period (adaptive mode) | 28 |
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| Volume_Filter | Enable volume weighting of True Range | true |
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| News_Filter | Enable economic news bar detection (MT5 calendar) | true |
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| Alert_Threshold | Multiplier for ATR alerts (spike vs. mean) | 2.0 |
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| Enable_Alerts | Enable pop-up & sound alerts for high volatility | true |
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---
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## How SmartATR MT5 Works
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- **ATR calculation:** EMA-style smoothing of True Range
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- **Adaptive logic:** Period shortens in high volatility, lengthens in low volatility
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- **Volume weighting:** True Range is weighted by recent tick volume
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- **News detection:** Flags bars with economic news using the MT5 calendar API
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- **Alerts:** Pop-up (and/or sound) if ATR exceeds a multiple of the rolling average
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---
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## Example Output
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- **Blue line:** SmartATR value (real-time volatility)
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- **Red/orange bars:** Overlay on bars with news events (impact: medium/high)
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- **Alerts:** Pop-up and/or sound on abnormal volatility
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## For Developers
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- Code is modular, clear, and fully commented for custom overlays, alerts, and more
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- Hooks for integrating into your EAs, strategies, and trading dashboards
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- Forks, pull requests, bug reports, and suggestions always welcome!
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---
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## Repository
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https://forge.mql5.io/steverosenstock/SmartATR
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https://forge.mql5.io/steverosenstock/SmartATR.git
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---
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## License
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MIT License – Free for all personal, professional, and commercial use.
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---
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## About the Author
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Developed and maintained by **Steve Rosenstock**
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If you like this project or have ideas for improvements, your contribution is always welcome!
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---
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**SmartATR MT5 – The open-source, adaptive volatility tool for serious MetaTrader traders.
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Know your risk. Trade with context!**
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