OPEN-SOURCE SCRIPT
ATR Percentage
The ATR is a great indicator, but for me, it does not define the volatility of an asset I am looking at well enough. So I've adjusted it to be displayed as the usual ATR and a percentage of the closing prince (which to me tells a better story). I find this useful if I am looking through many assets and have to create a quick picture of volatility.
Indicator Definition: The script starts by defining an indicator named "ATR Percentage" that will be displayed in a separate pane (not overlayed on the price chart).
Input for ATR Period: The user can set the period for calculating the ATR through an input field.
ATR Calculation: The ta.atr function calculates the Average True Range based on the specified period.
ATR Percentage Calculation: The ATR value is converted to a percentage of the current closing price using (atrValue / close) * 100.
Plotting:
The script plots both the ATR value and its percentage on the chart.
A horizontal line at zero is added for reference.
Label Display: An optional label displays the current ATR percentage at every 10th bar to avoid cluttering the chart.
Background Color: A light blue background is added to visually separate the ATR indicator from other indicators.
Indicator Definition: The script starts by defining an indicator named "ATR Percentage" that will be displayed in a separate pane (not overlayed on the price chart).
Input for ATR Period: The user can set the period for calculating the ATR through an input field.
ATR Calculation: The ta.atr function calculates the Average True Range based on the specified period.
ATR Percentage Calculation: The ATR value is converted to a percentage of the current closing price using (atrValue / close) * 100.
Plotting:
The script plots both the ATR value and its percentage on the chart.
A horizontal line at zero is added for reference.
Label Display: An optional label displays the current ATR percentage at every 10th bar to avoid cluttering the chart.
Background Color: A light blue background is added to visually separate the ATR indicator from other indicators.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.
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