The Average True Range ATR indicator is a technical tool that is useful in gauging volatility, while the Bollinger Bands is based on standard deviation that changes in tune with increasing and decreasing volatility.

The ATR Bands is deployed as a trend following indicator and can be used to spot reversals in tune with channel breakouts and channel direction. The Bollinger Bands will contract and widen as price action of a symbol becomes tight contract or exhibit a volatile widen trading pattern.

The Bollinger Bands is enveloped in the ATR Bands and reacts quicker to price changes i. An uptrend is present is present when the channel moves higher, while a downtrend is present when the channel moves south.

Custom Bollinger Bands Forex Indicator | Forex MT4 Indicators

The trend is said to be flat when the channel moves sideways. The Bollinger Bands are represented by the blue dotted lines, while the ATR Bands are represented by the red out bands.

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Bollinger Bands® | Forex Indicators Guide

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