The ATR Kroll Signals MT4 forex indicator is a blue and red crossover trading system based on the average true range technical indicator.
Forex crossover systems are very easy to trade:
Buy when the faster signal line crosses above the slower signal line from below.
Conversely, sell when the faster signal line crosses below the slower signal line from above.
The ATR Kroll Signals crossover system can be used for scalping, day trading and swing trading purposes on any timeframe.
For scalping and day trading, trade the system during the more volatile trading sessions.
For maximum results, use it on low spread currency pairs such as EUR/USD, GBP/USD, USD/JPY,…
The default ATR Period is set to 5, experiment with this setting to suit your needs.
The GBP/USD Daily chart below displays the ATR Kroll Signals Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the ATR Kroll Signals Metatrader 4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open buy trade position when the blue signal line of the ATR Kroll indicator crosses above the red one from below.
Sell Signal: Open sell trade position when the red signal line of the ATR Kroll indicator crosses below the blue one from above.
Trade Exit: Close the open buy/sell forex position when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (Length, ATR Period, Kv) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the chande-kroll-stop.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)