The ATR Channel indicator is a game changer for traders looking to fine-tune their strategies. By drawing an ATR envelope around the price action, it helps you set effective stop loss and take profit levels with ease.
Want a tighter envelope? You can opt to draw it using the median price, which gives you a more focused view of market movements.
Input Parameters:
- CalculateOnBarClose: This setting determines whether to ignore the current unclosed bar.
- UseMedianPrice: Choose this option to draw the envelope using the median price instead of the typical highs and lows.
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