What is the best way to use ATR indicator?

Could you elaborate on the optimal approach to utilizing the Average True Range (ATR) indicator in financial analysis and trading? As a cryptocurrency and finance professional, I'm curious to know how it can provide valuable insights into market volatility and potentially aid in making informed trading decisions. What strategies do you recommend to effectively interpret and apply the ATR indicator? How does it complement other technical indicators, and what are some key factors to consider when employing it in a trading plan?