IvanLabrie

ATR%, ATR Timer and Range Expansion signal

1986 17 264
These 3 indicators can be really useful.
The usage is fairly straightforward, if you understand price action, having an statistical edge like these provide can be useful.
Refer to Tim West's charts to learn more about range expansion bars.
The idea for the Atr% and Atr timer come from discussions I had with Yacine Kanoun, props to him for his contribution.
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study(title="ATR%", shorttitle="ATR%", overlay=false)
source = close
length = input(1, minval=1, title = "EMA Length")
atrlen = input(10, minval=1, title = "ATR Length")
ma = ema(source, length)
range =  tr
rangema = ema(range, atrlen)

atrp = (rangema/ma)*100
avg = ema(atrp,30)
plot(atrp, color=black)
plot(avg, color=maroon)
can you explain how to use this indicator ... i dont see any ref on internet regarding Yacine Kanoun... anything art is always interesting, you never know what you might stumble upon
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Hola Ivan; Cuales son los otros indicators?
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IvanLabrie syracusepro
@syracusepro, revisa los comentarios del thread.
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Thank you for sharing this ATR indicator.

My suggestion would be to also plot the inverse with *-1 because ATR is always confusing. You never know the direction unless you compare price and ATR manually. Example:

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What do you mean?
ATR is just the range, not used for direction at all.
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ChartArt IvanLabrie
Ok, I thought this %ATR modification had the intention to give it some direction, similar to the %B or %R indicators. Then I was wrong.
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No, just to give a % value, instead of range in points.
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Came out wrong:

study("R.E.Signal", overlay=true)
rangeup = close+tr
rangedown = close-tr
over() => high > rangeup and close > open
under() => low < rangedown and close < open
barcolor(over() ? green: under() ? red : na)
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ChartArt IvanLabrie
Please post a pastebin with the entire final code version. Thank you :)
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Yes, I'll do that.
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