One more in the series of indicators that are usually not made as adaptive : this is an adaptive ATR for metatrader 4.
Apart from being adaptive, there is one more deviation in it – it is calculating average range (not average true range). The difference is subtle but it exists. It means that unlike the average true range (that checks if there was a gap when compared to previous bar), this indicator is calculating average range of high to low. And that is it. It is, as it is obvious from previous description, “ignoring” the gaps and that way it is calculating only the “effective” ranges