For a long time, I’ve been using Trader Dante’s daily ATR (or Datr) indicator. It’s a pretty helpful indicator that shows daily average volatility using the value of the ATR indicator when plotted on a daily chart.
These levels will give you a clue on how far the price has moved on that day. Often enough, you’ll even notice that these levels will actually be used as swing points, with the price moving into a level and then reversing. A beautiful example of this can be seen on the GBPUSD 1H chart above.
Recently, however, I wanted to add some extra features to it. So as a programming exercise, I set out to re-code it in MetaTrader 4. You can download the indicator below.
Update: I’ve now also created a TradingView version. You can find the indicator here.Read more and download