For traders who rely on volatility to make informed decisions, ATR-based scanners and alerts can be game changers. These tools help you automatically detect assets that meet your Average True Range (ATR) criteria—saving time and improving precision.
In this guide, we’ll cover the best platforms and setups for using ATR scanners and alerts effectively.
Why Use ATR-Based Scanners?
Instead of manually checking each chart, ATR scanners:
- Identify high-volatility stocks in real time
- Alert you to breakout-ready setups
- Filter trades based on predefined ATR levels or percentages
- Help you manage risk with dynamic stop-loss logic
✅ Best Platforms with ATR Scanners & Alerts
1. TradingView
- How it helps: Use built-in ATR indicator or custom Pine Script to scan/filter stocks.
- Features: Real-time alerts when ATR crosses a threshold.
- Bonus: Alerts can be sent via email, SMS, or app.
2. Thinkorswim (TOS) by TD Ameritrade
- How it helps: Create custom ATR-based scan conditions in the Scan tab.
- Features: Alerts for changes in ATR %, volatility spikes, and custom strategies.
3. TrendSpider
- How it helps: ATR-based dynamic alerts and strategy tester.
- Features: Automatically detects when price exceeds a multiple of ATR.
4. MetaTrader 4/5 (MT4/MT5)
- How it helps: Use custom indicators or Expert Advisors (EAs) to scan for ATR conditions.
- Features: Alerts based on ATR value, candles exceeding average range, or volatility shifts.
5. Finviz Elite (for US Stocks)
- How it helps: While ATR isn’t directly scannable, you can filter by volatility %, which correlates with ATR.
- Use case: Pre-market scans for high-momentum stocks.
How to Set Up ATR Alerts
- Choose Your Platform (e.g., TradingView)
- Add the ATR indicator to your chart
- Right-click the ATR line → Set Alert
- Define the condition (e.g., ATR > 2.5 or ATR % > 3%)
- Choose alert action (popup, email, webhook, etc.)
- Activate it and let it monitor in the background
Sample Use Cases
| Use Case | Alert Condition |
|---|---|
| Breakout Opportunity | ATR rising above 5-period average |
| Quiet Market Filter | ATR < 1% of current price |
| Risk Control | Don’t enter if ATR > 4% (too volatile) |
| Volatility Spike Detection | Sudden ATR surge on 1-minute chart |
Final Thoughts
ATR-based scanners and alerts allow traders to focus only on setups that meet their volatility profile. Whether you’re trading breakouts, reversals, or simply managing risk, these tools eliminate guesswork and help you act on high-probability opportunities faster.
✅ FAQs
1. Can beginners use ATR scanners?
Yes. Most platforms offer simple visual alerts or built-in templates.
2. Are ATR scanners available for free?
Basic versions are available on TradingView and MT4/5. Advanced filters may require a paid plan.
3. Should I use ATR with other filters?
Absolutely. Combine ATR with volume, RSI, or trend filters for better accuracy.
4. How often should I check my ATR alerts?
Real-time alerts mean you don’t need to check charts constantly. Let them notify you.
5. Are ATR alerts useful for day traders?
Yes. Especially helpful for filtering out flat or excessively volatile markets.
