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This article is about the use of Average True Range and pip value calculation for batter choice of forex currency pair for trading. We often use ATR to know the volatility of any currency pair and go for the trade with high ATR or whatever our trading plan is , but there is another point that we must keep in our minds is pip calculation. By using ATR and pip calculation, we will try to find batter currency pairs for trading.
Average True Range:
According to Investopedia [1], ATR can be defined as
current high less the current low,the absolute value of the current high less the previous close and absolute value of the current low less the previous close. the average true range is the moving average, generally 14 days, of the true range

. we can find ATR indicator in JFOREX Platform charts, under indicators menu in volatility indicator sub menu.
so we can find ATR of desired currency pairs using JFOREX chart indicator, as shown above, I set 21 days period for today i.e
11-10-2016.You can set any other period in indicator as you want
Commonly Traded Currency Pairs present ATR:
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black_box_xx avatar

good job! interesting to read! ;)

sharpsense avatar

Good Job;)

Mani avatar
Mani 16 Lis



wonderful job!

lubZostaw komentarz
Cet article se propose de soumettre à votre avis une stratégie de divergence basée sur les chandeliers japonais et l'indicateur de RSI.

Il existe sur le net bon nombre de stratégies de divergence entre le prix d'un actif et un indicateur en particulier. Ces stratégies ouvrent des positions quand la direction des prix, c'est-à-dire la pente, et la direction de l'indicateur divergent. Autrement dit, quand les deux valeurs ont des pentes opposées au sens mathématique; quand l'une est positive, l'autre est négative et vice versa. L'idée centrale est que lorsque une telle divergence se produit alors la probabilité que les prix changent de direction est forte.

La stratégie se base sur la représentation des prix en chandeliers japonais et deux indicateurs; une moyenne mobile simple à 7 périodes et l'indicateur de RSI à 14 périodes. Le signal est donné par des figures en chandeliers japonais soumis à un filtre; le RSI. La moyenne mobile quant à elle va lisser les cours et permettre ainsi de déterminer précisément la pente des cours en vue d'une éventuelle automatisation de la tâche. La stratégie s'applique à n'importe quelle unité de temps, les te…
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Natalia_Kisenko avatar

nice article!  simple, but effective strategy

zarina avatar
zarina 12 Luty

great and interesting

Alexander22 avatar

простая и эффективная стратегия

Olkiss70 avatar
Olkiss70 21 Luty

I traded using rsi several years ago..  good strategy!

SofiaM avatar
SofiaM 13 Mar

great job!)

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In the spirit of learning and sharing, I am going to convert my Catch a Trend Strategy into a JForex trading robot. I did not find it challenging implementing on Visual JForex compared to automating the Day Scalper strategy, which utilizes moving average envelopes and complex entry methods.
As I always state when sharing my trading strategies, there is no holy grail in forex trading. Every strategy will lose at a point no matter how advanced it is. What carries the day is proper risk management.
Multiple Bots Lowers Risk
With automated strategies, I have learned that spreading the risk across multiple robots with different entry methods and trade management systems greatly lowers my losses even if it is on the same pair. I risk 10% of my live account and run 10 to 15 bots concurrently on a VPS.
As seen from the following image on a demo account with Dukascopy, multiple bots were able to cover losses and end the period in profit. If I was running only 1 bot, the chances of profit or loss would have been 50%.
The next image shows the performance of many bots over a period of 30 days, but not on Dukascopy.
Note: I count pips made not the money.
As you can see, one bot trading GBPUSD …
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Agnessa26 avatar

Good job!!!

Natalia_Kisenko avatar

very nice!

WallStreet6 avatar

very interesting- at least I see first advantage of automated trading- when trading manually it is rather imposible to incorporate 15 different strategies

locked avatar
locked 7 Lip

nice educational article .

optionhk avatar
optionhk 5 Paź

Pipx: Thank you for your generosity.
Can you please help me for this strategy:
I want to get email alert for different symbols.
1.  I want to select XX (number ) symbols (currency pairs): Example, I select 12 pairs.
2. I want to get alerted two conditions are met:
3. out of selected pairs  XX pairs are moving
(a)  in any one direction. Up or down, but must be in same direction.
(b)  if have gained (for up direction) or lost (for down direction) by XX pips
3. As I can't sit (because of back pain)  to watch I want to receive email and push notifications.


lubZostaw komentarz
This article is a continuation of my day trading strategies, that I started covering in May. In May, I covered Day Scalper and showed live trading examples in the comments. Catch a Trend and Late Swinger are relatively simple to follow compared to Day scalper for they do not utilize Moving Average Envelopes or complex entry methods.
As I already stated in the Day Scalper article, day trading is not for everyone as it requires discipline and self-control especially near events that increase market volatility. There is no “holy grail” in forex trading and successful trading depends on consistency with a goal of more wins than losses.
  • The 2 strategies utilize daily bar charts,
  • I trade the 6 major pairs,
  • They use the New York ‘close’- 17:00 EST (Eastern Standard Time) and 21:00 GMT to analyze the markets,
  • Every entry must have a stop loss – changeable to break-even or trailing profit when conditions allow,
  • When it’s time to close, I must close even if it is in loss,
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pipx avatar
pipx 10 Cze

Thank you, Nihad. I will surely take a look at your article over the weekend. The Idea of presets seems viable, but I see 'lots of work' during optimization. I will give it a go and see how it pans out. Thanks again.

Nihad avatar
Nihad 10 Cze

pipx Thanks, well let me suggest how I solved this before. I use FIBS series along the way. I respect the golden ratio, in other words, if I choose 13 as the normal for example and 34 for the slow(+1 jump), I must use 5 for the fast. I maintain it all the way. Then I worked a MAJOR preset, a CROSS preset and then an EXOTIC preset. I drilled further and I came with an optimal Entry Settings different from the Exits. Realizing the fact the Support angles are different from Resistance angles and these angles never change because the pair key-players behavior never change.

Nihad avatar
Nihad 10 Cze

pipx This strategy in despite of its results show a proper methodology behind it and that what really matters. Good luck PIPX. Have the best Week

Natalia_Kisenko avatar

good article, thanks!

WallStreet6 avatar

very interesting! thanks for the insight!

lubZostaw komentarz
Automating your trading strategy frees you from constantly monitoring the market, removes emotions from trading and grows your portfolio. The latter is possible only with proper risk management. To better understand this, consider risking 10% of your equity on each trade. When you win, you win big and when you lose, you lose big as well. This can be construed as gambling.
Starting small and increasing risk as your portfolio grows while letting profits run for as long as possible are sustainable capital management techniques. By implementing dynamic lots, you will be risking a predetermined percentage of your account and the lots only increase or decrease relative to the growth of your equity. When using a trailing profit, you will rake in more pips should the market rally in your favor.
The following is part of a large strategy, which I cannot cover in full in this article. However, the component can be successfully attached to any VJForex based strategy. Let’s get started.
Strategy Basics
  • We will be risking 1% of 10K account on each trade,
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bharatholsa avatar

Excellent article.

Mariia avatar
Mariia 24 Kwi

As always amazing pipx !!!!!

Mariya_Suhina avatar

very smart!

JuliaBF avatar
JuliaBF 27 Kwi

well done! very interesting article!

JemY avatar
JemY 16 Cze

great idea thanks

lubZostaw komentarz
Hi all traders. If you click to Dukascopy community and "Forex article contest" you can see picture of William Shakespeare. He wrote many works and in one of them famous sentense: "To be, or not to be..." It is the opening phrase of a dialog in the "Nunnery Scene" of William Shakespeare's play Hamlet. This question is very analogous to traders every day question: "buy or sell"?
Is it easy answer? Of course not because trading is hard business. What can help? There is indicator Average true range in shortly ATR. What is ATR? ATR is a technical analysis volatility indicator originally developed by Welles Wilder. The indicator does not provide an indication of price trend, simply the degree of price volatility. The average true range is an N-day moving average of the true range values.
How can we use it for trading? Do not forget the main question for intraday trader is "buy or sell?" in actual day. Setup chart will not by daily time frame but lower time frame for example one hour. But intraday trader need daily time frame for answer his question. Why? Because daily time frame is setup chart for ATR indicator. This is very important information for intraday trader. Please look next …
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Ange_Farouche avatar

good article

BruceWillis avatar

good luck

rokasltu avatar
rokasltu 18 Luty

when reading seems simple but it is interesting how it will work in reality...

ductus avatar
ductus 20 Luty

riskantne, ale to moze fungovat'

MyiDEA avatar
MyiDEA 24 Luty


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When Buyer and Seller agree on both Price and Value, no trade will ever be made.
Buyer and Seller have to disagree on Value, not on Price, in order to make trades. Because there are many buyers and sellers in the world of currencies, there are alway people who value a currency different and so price keeps moving around. If one can predict value, one can predict price.
Fundamental analysis is all about predicting value, while technical analysis is all about predicting price. We can see price moving in the charts and so try to predict where it might be going, but forces we cannot see make the price go up or down. If we could only see those forces…
When observing the way market, volume and price change, we can see similar mechanics in the physics of pressure. Hang on for a few seconds, it’s quite simple.
Pressure and Forex: if i shake a bottle of champaign forcefully, the cork will pop out and champaign will be wasted. So if pressure rises in one places, stuff will go from where the pressure is high to where the pressure is low.
The same proces works for Forex price: if value differs, price will move. And again: by knowing where the pressure is, we can tell where …
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Acko avatar
Acko 21 Sty

Hi, thanks for your article, could you answer the text bellow? I am not sure if I understand well.
To measure pressure you are using volume and range – then you can decide in which phases the market is. If you are in phase of flow, you can follow the global trend, correct?
Can we use this approach also to indexes? Or these markets are not so connected with each other? Could you please also explain in more detail your picture with matrix, I don’t know how the number are counting (why ADX)
Thanks in advance

semperaugustus avatar

I will add the answers to your questions underneath the article.

semperaugustus avatar

Oh, cannot edit...

In each matrix we measure Increase (+) or Decrease (-) of two values. Where values cross, we see the fase that these two values point out.

Volume and Range is one of the three methods to see what fase we have. If all three methods line up, fase is more certain than if they contradict each other.

If fase is Flow, you might follow trend. But if fase is flow, retracement is always around the corner!

I have no experience with indexes whatsoever. So i cannot answer that question.

ADX is one of the many ways to measure momentum. You could use rsi, stochastics, macd...

anna_t avatar
anna_t 21 Sty

like this article

Durden avatar
Durden 26 Sty

good job

lubZostaw komentarz
Average true range (ATR) is a technical analysis volatility indicator originally developed by J. Welles Wilder, Jr. for commodities. The indicator does not provide an indication of price trend, simply the degree of price volatility
(by Wikipedia)


In this article, we suggest that there is some correlation between the strength of price trend and Average True Range Indicators. We suspect that when that ATR goes down, then a price trend is likely to the end. And we describes that by 3 chapters in this paper.
  1. How To Calculate ATR? Describes a more details of ATR Indicator which was used for this research.
  2. Chart Pattern Analysis. This is an abstract explanation by standard chart patterns. Sections: Double Top, Triangle.
  3. Back Test Analysis. This is a concrete explanation by the 759679 orders of 5 currency pairs back-test result(2004 - 2014). Sections: Trading rule, Filters, EUR/USD(152304). GBP/USD(149175), USD/JPY(152798), USD/CHF(150498), USD/CAD(154904), Summary.
Chapter 1: How To Calculate ATR?
At first, you needs to calculate a true range. The range of a day's trading is a high minus low price. And the true range extends it to yesterday's closing price if it was outsi…
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VictoriaVika avatar

Nice analysis on. Great one for using in Forex markets!  Wait the next one exiting article. 

brunodanzer avatar

very good, this data is really very interesting

MobNaga avatar
MobNaga 18 Sty


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I'm sure that most of you guys are exasperated about the current never-ending low volatility environment(see Figure 1) as current market conditions has become increasingly challenging. The Forex Exchange market has been in a very deep sleep for the most part of this year and swing trading opportunities have vanished away and that's one of the reasons why in current low volatility environment the Carry Trading Strategy are preferred more as it makes sense that investors who are chasing yield to rush in and park their money with high yield currencies in seek for return, you can read more about this in my previous article here: Carry Trade Returns
Before going any further we need to define "Volatility", and the way I like to look at it is from two key perspective:
  1. How many times it moves(up and down) in a given period of time --> Frequency.
  2. How faster and bold is the move-->Severity.
In this regard the best definition of volatility I found it to be:"Volatility refers to the frequency and severity with which the market price of an investment fluctuates."
Figure 1. JPMorgan global-currency volatility index.

  • Why is Volatility so Low
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    gino32 avatar
    gino32 22 Wrz

    Likerty are you talking about VSA accumulation (wyckoff market cycle)?

    gino32 avatar
    gino32 23 Wrz

    Daytrader21 well what i think of low vol periods its simple "calm before the storm" meaning possible breaks may happen so search for technical that chart you have a clear break, supported with 1y clear bond rate differential divergence..

    Daytrader21 avatar

    gino32 That's correct because volatility tends to revert to the means. However volatility is greatest at turning point and tend to vanish as the trend develops.

    OneGoodTrade avatar

    The topic deserves one article by itself...what is volatility exactly. Good work.

    Daytrader21 avatar

    OneGoodTrade I already answered your question and article gives an comprehensive definition of volatility. You're right, there are many more things to be written about volatility but my article focuses only on the low volatility environment and how to profit from it.

    lubZostaw komentarz

    In this article, I'm going to talk about FX seasonality cycles and how they can improve your trading activity and why it should not be ignored. There is no mystery that the world is full of cycles and we're governed by them and the financial market are not exception of this rule. The majority of traders will either use technical analysis, fundamental analysis or a combination of both. But the seasonality cycles will bring in a new dimension in which you can analyse the market. The time element such as the time of the day, the day of the week, the month of the year could also play a big role in how certain FX pairs may behave. So when you focus your attention purely on price and time without the noise of indicators you may notice that some pattern shows up during certain time and this patterns are known as seasonality. Seasonality are a predictable change in price that repeats every day, week, month, year at the same period in time.
    This seasonality cycles will only give you the tendency of an particular currency pair to bottom or top or rally or fall, at certain point in time. The seasonality is just an average so in this regard it's better not to use it in isolation but rather in…
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    Daytrader21 avatar

    Metal_Mind thanks for your insights @all thanks for your support

    jezz avatar
    jezz 29 Sie

    Seasonal trends are related to people habits. Even though money never sleeps, it does take some vacations, which can explain the seasonal trends. And the unreliability in post-break times can be related to late data of the industrial and similar activity during the 'low' times. I think :)

    Daytrader21 avatar

    jezz Long time since I've seen you around here.:) You're very much right about seasonal trends being related to people habits, that's one of the reason why I've become more interested in human psychology as well. It gives you another perspective of why people do certain things. I hope to see you more often commenting on my stuff:)

    marius24 avatar
    marius24 30 Sie

    one of the best article i have ever read in this contest. It seems that we have here a really good trader. Wish you to win this contest once again

    psimmons63 avatar

    Very insightful article. I believe that seasonality gives traders the best edge in terms of technical indicators because its based on high probabilities. Do you cover any of the other majors?

    lubZostaw komentarz
    As some of you already know, my trading approach is based on medium/long term trend following, and that I usually don't have indicators on my charts (with the exception of ATR), even though some of them can be useful, if applied correctly in a complete system. Among these are obviously indicators that help us identify and follow trends. There's a relatively new trend-following indicator that you may have never heard of, because it is so rarely talked about, called Vortex Indicator (VI), which I'm going to describe in this article. This indicator is available in the Dukascopy jForex platform. ______________ ► Description The Vortex Indicator consists of two oscillators measuring upward and downward movement, its development was inspired by the natural flow and vortexes of water that occur in rivers. You can see a vortex pattern in your charts by connecting the lows in the candles with the highs in the consecutive candles, and then the highs with the consecutive lows. The bigger the difference between the low of a candle and the next candle's high, the stronger the upward vortex (VM+). Likewise, the bigger the difference between the high of a candle and the next candle's low, …
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    OneGoodTrade avatar

    This is the first time I hear about this indicator ... certainly I'll take a look. Thanks.

    belman avatar
    belman 31 Sty

    Nice article, best of luck +1

    doctortyby avatar

    I have never heard of this indicator, I use the name in different contexts like : the vortex of a triangle. Interesting article, congratulations

    acushnir avatar
    acushnir 8 Luty

    Nice and useful article. Congrats for your prize!!

    chonchol avatar
    chonchol 22 Wrz

    It is very helpful article

    lubZostaw komentarz
    If there's one thing that most traders are always looking for, is a set of rules or a system that allows them to trade the markets profitably. In this article I will describe a complete trading system used, in the past, by a very famous trader and the people he taught, and then later on by several hedge funds managed by his disciples. It can be used "as is", without any modifications, or you can use it as a basis to develop your own system, further enhancing the power of the original rules. ________________► The Turtle bet In the early-1980s, one of the greatest and richest traders of the 20th century, Richard Dennis, and his friend Bill Eckhardt, were having an ongoing discussion on the viability of teaching people how to trade. Richard was convinced that it was possible to teach ordinary people to become good traders, while Bill believed that great traders possessed a natural skill, some sort of sixth sense that could not be taught. In order to settle this discussion they made a bet: they would recruit a few inexperienced people for their trading company, C & D Commodities, teach them the rules of the system they already used, give them capital to trade, and then see if t…
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    elvy avatar
    elvy 31 Gru

    Nice article, all best for you +1

    yadi avatar
    yadi 31 Maj

    nice article. that is the original turtle rules. the most difficult part of turtle trading is the position sizing and risk management. Even R Dennis said if you publish my rules on the newspaper, no one will follow. i just dont buy the market ranging for 80 % of the time. that doesnot seem right. The markets are played by people, if people dont know where to go, who will then? My mentor has been trading the markets for decades, he is exellent in trading. He only trades when trending moves happen. He can double his account easily each year.

    yadi avatar
    yadi 31 Maj

    well, the trading results can be very ugly sometimes when the markets lack of volitility. some times for a month, there can be no winners (depends on the timeframs you choose). anyway, if you dont believe this system, look somewhere else. There are lots of strategies out there. by the way, if you trade on a 5 min chart in asian times, for sure 80 % of the time is ranging.

    Jason_Lai87 avatar

    "we are going to grow traders like they grow turtles in Singapore"

    This words need to be corrected. Richard didn't establish the turtle traders based on what he found in Singapore. He was in Kapas's Island Terengganu, Malaysia with Bill when they got the betting idea. Singapore doesn't have any turtle survival centre unlike Malaysia. 

    lubZostaw komentarz
    One of the biggest misconceptions novice traders have, is to think that trade entries are the only element worth considering, and the only factor that will decide if the trade is profitable or not. They often pay little attention to exit strategies and even less to money management. Successful traders focus on money management and risk control first, while unsuccessful ones devote their full attention to trying to find the perfect entry. This article will provide you with a sound and proven money management system, which will allow you to trade consistently, always taking into consideration the underlying market conditions. Correctly calculating position size based on volatility is a key skill to have if you want to succeed in trading. At the end of the article there's a link to download this system. _________________________________________________________► The adaptability of cockroaches and why you should be like one Cockroaches are one of the most adaptable creatures on our planet, and they've been around for 250 million years. The reason why they were able to survive in different climates and environments is because they have simple behaviour patterns which can be adapte…
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    fprophet avatar

    hi - I really liked your Money Management Article & webinar.
    Personally I like using Fibonacci ratios based on the size of the signal bar to calculate TP & SL but I'm going to try using ATR levels as you have suggested.

    SpecialFX avatar

    Thanks prophet :) Feel free to send me a private message if you need help using ATR and/or my calculator.

    wh_ avatar
    wh_ 27 Mar

    SpecialFX - great article. How would you adjust your formula if the traded currency pair did not include your account currency. i.e. from your example, say the traded pair was AUD/JPY? Would you first convert JPY/USD then multiply this result by USD/AUD?

    weien avatar
    weien 29 Paź

    Hi SpecialFx, I tried to download the XLS file but the download link already broke... appreciate if you can renew the file link... thank you very much.

    TadCary avatar
    TadCary 25 Luty

    This is great MM strategy. But using ATR will give you constantly changing SL/TP, it's not so easy to use. For example we had huge market swing, by ATR you put wide SL/TP, after swings goes calm period, and your SL/TP just don't work. To solve this problem I use MIN/MAX channel, and calculate SL/TP by its width. For example SL = 0.25, TP = 1,0 of channel width. This approach work better for ranging market that we have now. Maybe I've invented weel but it works ok in my vjForex algos.

    lubZostaw komentarz
    IntroductionATR indicator is the acronim for Average True Range. This indicator was developped by J. Welles Wilder. Wilder is a american mechanical engenieer who is the father of several other technical indicators: RSI (Relative Strenght Index), ADI (Average Directional Index) and Parabolic SAR (Stop and Reverse).  ATR is a volatility indicator. Volatility is a measure of the range of price action, but ignoring the price direction. Before was used the simple concept of "Range" that is the diference between the high/low values. Range values have some leaks, not considering gaps and limited price moves. Wilder created the concept of "TR - True Range" taking in consideration this leaks changing the way of how this values are calculated. Calculating True RangeTo calculate "True Range" we use the following formula: Maximum value of this three calculations:Corrent High less current Low;Absolute value (without minus signal) of current High less previous Close ;Absolute value of current Low less previous close. Or in a simple way:TR = Max([High - Low], abs[High - previous Close], abs[Low - previous Close])And as a image worth more than 1000 words:Image 1 - Some examples of TR calculation. TR value is represented by red lines with arrows. Simple [/Low][/High][/High]…
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    RobertBric avatar

    I find it useful for auto trading because a trading robot cannot “see” the chart. So how does one tell it that for example the current candle is really big compared to the previous price action? ATR is the answer. I don’t use ATR for my discretionary trading because I rely on judging the price action by other means. I wish you all a profitable use of ATR if you choose to bring it into your arsenal of indicators

    scramble avatar
    scramble 23 Maj

    i think you gave a great explanation of this indicator! IMO best application of ATR is with an automated tool (infact it is your 1st point under the "usage" section).
    i like your excel tables.
    i think you did a good work in this article!
    good luck :-)

    lubZostaw komentarz
    Moving Average & Average True Range - A Winning Strategy :In any trading, whether you trade Stocks, Future or Forex, the first key of success is having a good Strategy, which provides good result. Second most important key is Discipline and third key is Money Management. In this article, we will discuss about a strategy based on Moving Average and ATR, which gives me 50 – 100 PIPS per trading day in just 2 Hours. So let us come to point:We need few things on our chart before we explain the strategy:1. Time Frame: Minimum 15 minutes and above.2. Moving Averages: 14 SMA Low Price (Yellow),    14 SMA High Price (Blue).     [SMA - Simple Moving Average]3.  Average True Range: Period 144.  Support and ResistanceNow look at below Charts: Fig 1 : Short Position IllustrationFig 2: Long Position IllustrationTrade Setup: First look at ATR. Is it greater than 0.0013? Yes. Great! When Candle close above Blue moving average, at the opening of next candle we will buy and when candle close below Yellow moving average, at the opening of next candle we will sell. Is not it simple?This can be applied on any currency pair, and mostly I trade it with USD pairs, i.e. EURUSD, GBPUSD, & AUDUSD.  Here it is :We will use ATR value to [/SMA]…
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    adloule avatar
    adloule 22 Sie

    thanks a lot for your answer
    do you have a website or a blog, so i can learn more from you?

    ejikeze avatar
    ejikeze 7 Mar

    whao. I think am rich. feel like am writing this from my own yatch now after backtesting all the majors on this strategy. finally a strategy that works! add some martingale and u'll know wat am saying. lol

    ejikeze avatar
    ejikeze 7 Mar

    but does it mean ATR 0.0013 = 13pips?

    MrSami avatar
    MrSami 17 Kwi

    Good effort. Good approach. In my opinion, to recommend such an approach, proposed technique should be tested on different market states. In my opinion, there are 2 market states. Trending, congestion. These may be subdivided into substates. Without a detailed performance analysis of such techniques,  authors usually causes loss of time and money. As you know, even you had the best methodology, you may loose money.

    Meanwhile, I am agree on a trader must have strategy, discipline and money management.  However, I will prefer to have DISCIPLINE, FOCUS, PATIENCE.

    gracient avatar

    Hi everyone, I've made an EA of this strategy for MT4 and at first glance it doesn't run a profit.  If anyone is interested in doing some testing and sharing results, I'm happy to share the EA. Let me know if you're interested.

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