Located on the MQL5 marketplace, VR ATR Pro was created by Vladimir Pastushak. It was first uploaded to the marketplace on the 2nd of October 2014, it has had a large number of updates, it was most recently updated on the 16th of March 2020 and is currently at version 20.31.
VR ATR Pro is an indicator that was created for the MetaTrader 4 trading platform, its main purpose is to determine the target levels for a particular financial instrument, it will use real data using live and real statistics.
The algorithm used by the indicator is based on the calculation of average price movements over a specific period of time. It will use these numbers to work out the average price levels for the forecast of growth rates or to forecast a price fall.
Some advantages of the indicator:
- High accuracy
- A simple display of target levels directly on the chart
- Works with any financial instrument (Forex, Metals, CFD, Futures, Crypto)
- It does not redraw itself, and it always saves its readings
- It is effective for determining the Stop Loss and Take Profit levels
- Notifications on your smartphone, via e-mail and alerts in MetaTrader
- It is easy to set up and install
- It is suitable both for beginners and experienced traders
- It works on any period and any time frame
Some of the accuracy levels stated by the developer:
- Currency pair EUR/USD Readings accuracy 88%
- Currency pair GBP/USD Readings accuracy 78%
- Currency pair BTC/USD Readings accuracy 75%
The indicator will cost you $30 to purchase it outright, this will get you up to 30 activations with no other limitations. If you prefer, there is also the option to rent the indicator, this can be done on a monthly basis which will cost you $10 per month, you can also rent it for three months which will cost you $15, or six months for $20 and for a one year period it will cost you $25 to rent it.
A free demo version is available, this is limited to being used with the strategy tester within MetaTrader 4.
At the time of writing, there were 9 user reviews giving VR ATR Pro an overall rating of 4.5 out of 5.
“Great and pretty accuate indicator! Only on its basis, it is already possible to create your own strategies! Thank you Vladimir!” – A 5-star review [translated]
“LOVE IT so much!! Thank you!” – A 5-star review.
There is a three-star review which shows some issue but the user did not leave a comment, so all the other reviews are very positive. There are also over 100 comments, the developer has been replying to most comments showing that he is still supporting the indicator, there has not been a commend since 2020 so if you are thinking of buying it, send the developer a comment to check that they are still supporting it prior to making a purchase or rental.
This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/6252