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When it comes to determining the best ATR (Average True Range) setting for a 5-minute chart, there is no one-size-fits-all answer. The ATR is a technical indicator that measures volatility by calculating the true range of a security's price movement over a given period. However, the optimal ATR setting for a 5-minute chart depends on various factors such as the instrument you're trading, your trading strategy, and your personal risk tolerance. Generally speaking, a shorter ATR setting like 5 or 10 periods may be more responsive to recent price changes, while a longer setting like 20 or 30 periods may smooth out short-term fluctuations and provide a more stable measure of volatility. To find the best ATR setting for your 5-minute chart, you should consider testing different settings on historical data using backtesting software or a trading simulator. This will allow you to see how different ATR settings perform under various market conditions and help you determine the optimal setting for your specific trading style and instrument. Keep in mind that the best ATR setting for one trader may not be the best for another, so it's important to find the setting that works best for you.
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