If you use ForexThrive charts powered by TradingView, indicators can help you read market conditions faster and avoid random TP/SL decisions.
How to add an indicator on the chart
- Open any chart in the app
- Click Indicators (top toolbar)
- Search indicator name (for example: ATR)
- Click to add it to chart
- Open indicator settings (gear icon) to adjust length/style
ATR (Average True Range)
What it shows
ATR shows the average size of recent price movement.
How to read it
- ATR rising = volatility increasing
- ATR falling = volatility decreasing
Practical use
- Wider ATR → consider wider SL
- Narrow ATR → tighter SL may be enough
Bollinger Bands
What it shows
Bands expand when volatility increases and contract when volatility drops.
How to read it
- Band squeeze = low volatility phase, potential expansion ahead
- Band expansion = active move already in progress
Practical use
Use squeezes to prepare for breakout scenarios and avoid over-sizing positions before expansion confirms.
RSI (Relative Strength Index) as a context filter
RSI is not a direct volatility indicator, but it helps confirm momentum context.
How to read it
- RSI > 50 with rising ATR can support trend continuation context
- RSI < 50 with expanding bands can signal stronger downside pressure
Example setup in ForexThrive
A simple workflow:
- Add ATR(14)
- Add Bollinger Bands(20,2)
- Add RSI(14)
- Check if ATR and bands confirm current market speed
- Set TP/SL according to volatility, then execute
Read related article: Current Volatility in Trading
