OPEN-SOURCE SCRIPT
Average True Range - Improved
Average True Range - Improved is a small variation I have made to the standard ATR indicator. It will test the current ATR against the Historic Average ATR of your preference to see if the current volatility is high or low.
Once it has determined if it is high or low it will color code the circles at the top based on this information. Green means the current volatility is low and red means the current volatility is higher than the historic average.
In the settings I have also placed a couple styles, if you wish to show the ATR and Historic ATR in percent format instead of normal you can turn them on in the style settings. If you are using the percent format I recommend setting the Precision to 2-3 decimal places.
I hope you all enjoy this indicator, if you have any questions please feel free to post them in the comments.
Once it has determined if it is high or low it will color code the circles at the top based on this information. Green means the current volatility is low and red means the current volatility is higher than the historic average.
In the settings I have also placed a couple styles, if you wish to show the ATR and Historic ATR in percent format instead of normal you can turn them on in the style settings. If you are using the percent format I recommend setting the Precision to 2-3 decimal places.
I hope you all enjoy this indicator, if you have any questions please feel free to post them in the comments.
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.
Website
oasistrading.io
Meet the Team.
twitter.com/DejaBrewTrades
tradingview.com/u/gyromatical/
oasistrading.io
Meet the Team.
twitter.com/DejaBrewTrades
tradingview.com/u/gyromatical/
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.
Website
oasistrading.io
Meet the Team.
twitter.com/DejaBrewTrades
tradingview.com/u/gyromatical/
oasistrading.io
Meet the Team.
twitter.com/DejaBrewTrades
tradingview.com/u/gyromatical/
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.