The indicator is designed to quickly determine the volatility of the instrument. It is very convenient to change the charts to immediately understand on which instruments and time periods there is a brisk trade, and where there is a lull. The indicator uses the data of the ATR indicator converted into percentages. If you put ATR on the chart, about 100-300 bars will be visible on the screen, I averaged this value and set 150 by default (you can change it in the settings at your discretion). The principle of operation: we take 150 ATR values, find the largest and the smallest, the distance between them is 100%, based on this we calculate the current position as a percentage. Each column of the indicator corresponds to its own time period and is divided into 4 segments (3, 2, 1, 0 are the current bars). This is done to illustrate the behavior of the ATR indicator.
Settings:
1) the "Alert if signal" group
Cross percent for alert = 50; if the indicator crosses 50%, a window with a description of the instrument and the period will be displayed.
use Alert 1TF if signal - whether or not to use the signal notification
TimeFrame 1 for signal - time period for signal search
so far, it has been done for 5 time periods... (if necessary, you can add)
2) ATR setting
ATR Period = 14 - default
History bars back - How many bars to use to calculate 100% percent
3) View and Alert system info - displays system information about the operation of the indicator
Recommendation for use:
For optimal and fast operation of the indicator, you should reduce the number of bars displayed on the chart:
In the menu of MetaTrader 5 -> tools -> settings -> chart -> Max. bars in the window (the lower the value, the less memory is used and works faster).
At the first start, the indicator will load history data for all time periods, for this reason, the first start may take some time (depends on the speed of your computer and Internet connection)