The weekly ATR (average true range) indicator for Metatrader 4 displays the current and previous ATR values for the weekly chart time frame.
Generally speaking, market volatility increases when the current ATR value is higher than the previous ATR value.
Likewise, market volatility decreases when the current ATR value is lower than the previous ATR value.
Key Features
- Displays weekly Average True Range
- Gives an idea about market volatility
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system.
Free Download
Download the “WeeklyATR.mq4” MT4 indicator
Indicator Example Chart
The USD/JPY daily chart below shows the Weekly ATR Forex indicator in action.
Basic Trading Signals From the Weekly ATR Indicator
The Weekly ATR Forex indicator needs to be combined with other technical tools to create a complete trading system. See strategy below.
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Download the “WeeklyATR.mq4” MT4 indicator
Weekly ATR + Zoomer Pro Volatility Breakout Strategy
This strategy pairs the dynamic volatility tracking of the Weekly ATR Forex Indicator with the precise trend signal generation of the Zoomer Pro Indicator.
It is designed to catch strong breakout moves with built-in volatility thresholds and directional confirmation.
Strategy Overview
- Weekly ATR Indicator calculates and displays the average true range for the week, helping traders gauge the current volatility and set realistic price targets.
- Zoomer Pro provides actionable buy/sell signals based on momentum, market structure, and price action filters.
Recommended Setup
- Timeframes: M30, H1, H4
- Pairs: EUR/USD, GBP/USD, XAU/USD, USD/JPY
Buy Setup
- Wait for the Zoomer Pro to give a Buy signal (green arrow or bullish confirmation).
- Check if the current price has not yet reached the full Weekly ATR range to the upside.
- Enter a buy trade if the price breaks above a recent resistance or structure high.
- Set your stop loss below the breakout candle or key support area.
- Target the upper limit of the Weekly ATR range as your take profit zone.
Sell Setup
- Wait for a Sell signal from the Zoomer Pro indicator (red arrow or bearish confirmation).
- Ensure that the Weekly ATR value suggests there is still room to move down for the week.
- Enter the trade after a confirmed breakdown below support or a bearish candle close.
- Place a stop loss above the breakdown candle or recent swing high.
- Use the Weekly ATR projected low as the final take-profit target.
Strategy Pro Tips
- Use the Weekly ATR range to avoid overextending trades once the projected move is reached.
- Best results occur when the Zoomer Pro signal aligns with major session openings (London/New York).
- This strategy works best during high volatility days, such as Tuesday to Thursday.
Indicator Parameters & Settings
X adjust, y adjust, colors, style
Technical Information
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: Average True Range
How to install the Weekly ATR indicator in Metatrader 4?
- Copy and paste the WeeklyATR.mq4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
