ATR Probability Levels Indicator For MT5

ATR Probability Levels Indicator For MT5

The ATR Probability Levels Indicator For MT5 calculates high probability levels which the market can reach during a defined period. It calculates the values based on the ATR indicator. The standard time frame for the ATR calculation is the daily timeframe. Levels to the upside are drawn with blue color. The levels to the downside are drawn with orange color.

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Download the FREE ATR Probability Levels Indicator for MT5.

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Installing the ATR Probability Levels Indicator For MT5

After you downloaded the indicator via the form above you need to unzip the zip-file. Then you need to copy the file ATR Probability Levels.mq5 into the folder MQL5\Indicators of your MT5 installation. After that please restart MT5 and then you will be able to see the indicator in the list of indicators.

Parameters of the ATR Probability Levels Indicator For MT5

The ATR Probability Levels Indicator For MT5 has 6 parameters to configure.

input ENUM_TIMEFRAMES inpTimeFrame   = PERIOD_D1;      // Timeframe for data
input int             inpAtrPeriod   = 21;             // ATR period
input color           inpUp          = clrDeepSkyBlue; // Color for high levels
input color           inpDn          = clrOrangeRed;   // Color for low levels
input string          inpUniqueID    = "AtrLevels1";   // Unique ID for objects
input int             inpLabelsShift = 10;             // Labels shift

Buffers of the ATR Probability Levels Indicator For MT5

The ATR Probability Levels Indicator For MT5 provides 0 buffers.

Main Parts Of The Code

int OnCalculate(const int rates_total,const int prev_calculated,const datetime &time[],
                const double &open[],
                const double &high[],
                const double &low[],
                const double &close[],
                const long &tick_volume[],
                const long &volume[],
                const int &spread[])
   MqlRates _rates[]; int _ratesCopied=CopyRates(_Symbol,inpTimeFrame,1,inpAtrPeriod+1,_rates);
   if(_ratesCopied != inpAtrPeriod+1) return(prev_calculated);

   double _atr    = 0; for(int k=0;k lt inpAtrPeriod; k++) _atr += MathMax(_rates[k+1].high,_rates[k].close)-MathMin(_rates[k+1].low,_rates[k].close); _atr /= inpAtrPeriod;
   double _pclose = _rates[inpAtrPeriod].close;
   string _tf     = timeFrameToString(inpTimeFrame);
   datetime _time = time[rates_total-1]+PeriodSeconds(_Period)*inpLabelsShift;
   _createLine("res3",_pclose+_atr,_time,inpUp,inpUp,_tf+" probability band R3 ("+DoubleToString(_pclose+_atr,_Digits)+")");
   _createLine("res2",_pclose+_atr*0.75,_time,inpUp,inpUp,_tf+" probability band R2 ("+DoubleToString(_pclose+_atr*0.75,_Digits)+")");
   _createLine("res1",_pclose+_atr*0.50,_time,inpUp,inpUp,_tf+" probability band R1 ("+DoubleToString(_pclose+_atr*0.50,_Digits)+")");
   _createLine("sup1",_pclose-_atr*0.50,_time,inpDn,inpDn,_tf+" probability band S1 ("+DoubleToString(_pclose-_atr*0.50,_Digits)+")");
   _createLine("sup2",_pclose-_atr*0.75,_time,inpDn,inpDn,_tf+" probability band S2 ("+DoubleToString(_pclose-_atr*0.75,_Digits)+")");
   _createLine("sup3",_pclose-_atr,_time,inpDn,inpDn,_tf+" probability band S3 ("+DoubleToString(_pclose-_atr,_Digits)+")");
   return (rates_total);
//| Custom function(s)                                               |
void _createLine(string _add,double _price,datetime _time,color _color,color _textColor,string _text,int _style=STYLE_DOT)
   string _name=inpUniqueID+":"+_add;
string _tfsStr[]={"1 minute","2 minutes","3 minutes","4 minutes","5 minutes","6 minutes","10 minutes","12 minutes","15 minutes","20 minutes","30 minutes","1 hour","2 hours","3 hours","4 hours","6 hours","8 hours","12 hours","daily","weekly","monthly"};
//|                                                                  |
string timeFrameToString(int period)
   int i; for(i=0;i lt ArraySize(_tfsPer);i++) if(period==_tfsPer[i]) break;


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