ATR In Pips

MQL4's built-in ATR function returns a value in raw price - on a 5-digit EURUSD chart that is something like 0.00087, a number nobody actually thinks in. Every trader converts it to pips in their head before using it to size a stop or a target. This indicator does that conversion for you, correctly handling the 3- and 5-digit broker quote convention where one pip equals ten points rather than one, so the pip reading is right on both 4/2-digit and 5/3-digit symbols without any manual adjustment. It goes one step further and translates the same ATR reading into account-currency money for a lot size you type in. That conversion is built from the symbol's own tick value and tick size rather than assumed from a textbook $10-per-pip forex figure, so the money reading stays correct on gold, indices and any other instrument whose contract size or tick schedule does not match standard forex - the exact trap that produces confidently wrong position-sizing numbers when a script hardcodes a 100,000 contract size instead of reading it. Notes and limitations - InpLots is informational only; it does not read or scale from any open order. If several positions of different sizes are open, the label reflects the size typed into InpLots, not the account's actual exposure. - Money-per-point is derived from MODE_TICKVALUE and MODE_TICKSIZE at every recalculation, so the figure updates correctly if the broker changes contract specifications intraday. - The plotted line itself is plain ATR converted to pips - it carries the same lag as any moving-average-based volatility measure and is not a stop-placement recommendation by itself.

Indicator · MT5 · v1.0 · Free

Tags: ATR · Risk & Lot Size · EURUSD · MT5 Indicator · MQL5 Source Code

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