Please can anyone interpret the ATR XAUUSD to me please, 1.9146 on 5 mins chart. will appreciate.
ATR indicates the volatility of the market concerned. Sometimes volatility is high, when price is moving quickly and the candles are long.
The atr is the average length of the recent candles. 14 is the default total number.
My ATR on XAU/USD shows(14) 0.71 on the 5m chart at Friday’s closure. Which is average true range of price action movement for the last 14 days.
Whatever, don’t rely on any single trading tool in your trading! Try to focus on the whole scenario, instead of one or two parameters!