Use ATR for an answer I think.
So if you punch in 30 for the period and your on a daily chart you'll get the average movement in pips for the past 30 daily bars; so effectively you're looking at how much movement on a daily basis for the past 30 days.
On my MT4 it shows as 115 pips average for the past thirty days.
Don't really use indicators, but I think I'm right. Sure someone more helpful will be along shortly.
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Don't really use indicators
So for each different pairs of currency is it the same approximately or a huge difference. I want to know why most people trade the major 4 pairs is it because of volatility?
Is it really an indicator? It's just a measure of average sizes of bars to save you doing it manually. I don't think it could be conceivably used as an indicator to take a trade although I expect some monkeys out there are using it without understanding it.
Ive seen various people use ATR for their stops and targets which isn't a bad thing.
Agreed, but it isn't an indicator in the way others use stochastics and macd. I admit I'm being a pedantic arsewit, though.
Is it really an indicator? It's just a measure of average sizes of bars to save you doing it manually. I don't think it could be conceivably used as an indicator to take a trade although I expect some monkeys out there are using it without understanding it.
I disagree. It is an indicator of the average volatility of the currency pair for each 30 days (or whatever time frame you use).
It is an valuable indicator of how large your SL should be for each pair.
And I am NOT a monkey :cheesy:
Only here could someone somehow disagree after I post a correct answer to a question.
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Only here could someone somehow disagree after I post a correct answer to a question.
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I admit I'm being a pedantic arsewit, though.