Avarage True Range Percentage is a volatility indicator that use percent value of the volability. It looks to react better to vol. change. It could be add to other indicator as volatility range value
//@version=2 study("Average Percentage True Range") len=input(14) lh = high - low pc = close[1] hc = abs( high - pc ) lc = abs( low - pc ) MM = max( max( lh, hc ), lc ) atrs = iff( MM == hc, hc / ( pc + ( hc / 2 ) ), iff( MM == lc, lc / ( low + ( lc / 2 ) ), iff( MM == lh, lh / ( low + ( lh / 2 ) ), 0 ) ) ) APTR = 100*atrs*(2/(len+1))+nz(APTR[1])*(1-(2/(len+1))) plot( APTR,title= "APTR" ,color=red )