IvanLabrie

ATR%, ATR Timer and Range Expansion signal

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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)
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Here's the code for the ATR Timer:

study(title="ATR Timer", shorttitle="ATRT", overlay=false)
source = close
atrlen = input(10, minval=1, title = "ATR Length")
range = tr
rangema = ema(range, atrlen)
atrp = rangema
highatrval = high-open
lowatrval = open-low
atrused = highatrval + lowatrval
atrleft = atrp - atrused
bgcolor(atrleft <= 0 ? red : na)
plot(atrleft, color=black)

And for the Range Expansion bars:

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)
Reply
IvanLabrie TOP IvanLabrie
2 years ago
Fixed:
study(title="ATR Timer", shorttitle="ATRT", overlay=false)
source = close
atrlen = input(10, minval=1, title = "ATR Length")
range = tr
rangema = ema(range, atrlen)
atrp = rangema
highatrval = high-open
lowatrval = open-low
atrused = highatrval + lowatrval
atrleft = atrp - atrused
bgcolor(atrleft <= 0 ? red : na)
plot(atrleft, color=black)
Reply
IvanLabrie TOP IvanLabrie
2 years ago
Ignore this first part.
Reply
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)
Reply
ChartArt IvanLabrie
2 years ago
Please post a pastebin with the entire final code version. Thank you :)
Reply
IvanLabrie TOP ChartArt
2 years ago
Yes, I'll do that.
Reply
kot8822 IvanLabrie
a year ago
Hello Ivan - have Broblem - script can't work - read 11 -14 line - have broblem ! )) Pls Help !
Reply
IvanLabrie TOP kot8822
a year ago
Which one?
Reply
kot8822 IvanLabrie
a year ago
a y speak Russian ?? mai English not Good!)
Reply
IvanLabrie TOP kot8822
a year ago
Sorry, only my name is Russian, I'm from Argentina, only English and Spanish.
Reply
ChartArt
2 years ago
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:

snapshot
Reply
IvanLabrie TOP ChartArt
2 years ago
What do you mean?
ATR is just the range, not used for direction at all.
Reply
ChartArt IvanLabrie
2 years ago
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.
Reply
IvanLabrie TOP ChartArt
2 years ago
No, just to give a % value, instead of range in points.
Reply
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