ATR Pro

29. Sept.

The indicator was created for traders who are taking ATR seriously in their trading strategy and at the same time want a tool which will omit paranormal movements when showing a true average range of the asset as well os providing details on how the price moves in terms of volatility.

The Table:

• ATR % Passed - Shows the current passed ATR as of average of last 10 days without taking into account biggest 2 and smallest 2 bars taking into account also the gap. The number after “/“ sign shows the true range in dollars.
  
• Curr. D1 vs ATR % - Shows the size of current D1 bar as % of ATR above.
  
• D1 Closure % - Shows % of closure of current D1 bar in relation to its own high or low. 100% means that the close price is the same of today’s high or low.
  
• Volume 7d % - Shows the volume done as % of 7-day average.
  
• 5m bar - shows the size of current 5m bars in dollars and in the parentheses shows the 5m ATR in the same logic as the one above.
  
• 1m bar - shows the size of current 1m bars in dollars and in the parentheses shows the 1m ATR in the same logic as the one above.
  

Lines on the Chart:

The lines show the price lines where a specific % of ATR will already be passed. The indicator has 4 selections as %: 30, 50, 80 and 100 %.

Settings:

• Table data position on the window
  
• Text size
  
• Text color
  
• Colors of the ATR lines based on percentages.
  
• Show/Hide the ATR lines individually
  
• Use the Close of the current daily bar as the basis for calculating the ATR
  
• Check this box when the market is closed – when doing homework.
  
• Uncheck this box when the market opens, so that the ATR lines are drawn correctly on the chart.
  
• Move the ATR line X bars to the right to keep it away from bars.
  

1. Okt.

Versionshinweise

Added possibility to show hide all ATR lines individually as well as optimized the code.

8. Okt.

Versionshinweise

Added lines for Day Ranges, it basically shows the point when 30%, 50%, 80% of 100% of day range is passed.
Definition of "Range": High-Low average of 6 days (biggest and smallest 2 days excluded)

10. Okt.

Versionshinweise

Added possibility to include the gap (difference between yesterday's close and today's open) in day ranges line calculation.