OPEN-SOURCE SCRIPT
Average True Range Percentage (ATRP)
What is ATRP?
Average True Range Percentage (ATRP) expresses the Average True Range (ATR) indicator as a percentage of a bar’s closing price.
How does this indicator work?
ATRP is used to measure volatility just as the Average True Range (ATR) indicator is. ATRP allows securities to be compared, where ATR does not.
ATR measures volatility at an absolute level, meaning lower priced stock will have lower ATR values than higher price stocks.
ATRP displays the indicator as a percentage, to allow for securities trading at different prices per share to be compared.
Reference: fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/atrp
Average True Range Percentage (ATRP) expresses the Average True Range (ATR) indicator as a percentage of a bar’s closing price.
How does this indicator work?
ATRP is used to measure volatility just as the Average True Range (ATR) indicator is. ATRP allows securities to be compared, where ATR does not.
ATR measures volatility at an absolute level, meaning lower priced stock will have lower ATR values than higher price stocks.
ATRP displays the indicator as a percentage, to allow for securities trading at different prices per share to be compared.
Reference: fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/atrp
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.