This indicator implements the original and industry standard Average True Range created by J. Welles Wilder, Jr. (June 1978) in New Concepts in Technical Trading Systems. Greensboro, NC: Trend Research. ISBN 978-0-89459-027-6. See page 23, 24 for the formula. It uses the EMA of true range values.
The current MC "Average True Range" function / indicator is different and uses the SMA instead of the EMA.
To use the ATR in a signal simply copy the class and initialization code from this indicator. Let me know if you have any trouble.
Note that the first "atr_length" bars are SMA before EMA starts. For the indicator this is not seen, but in a signal it is good to understand.
- http://www.threefoldmarkets.com
ATR (Average True Range)
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Re: ATR (Average True Range)
Hi tradetree
I cannot open the file no matter how I try. Most likely due to my own ignorance and incompetence in how to import stuff into Powerlanguage Editor...
Could I ask you to please post the code as plain text so that I can just copy-paste it?
Thank you for sharing!
All the best
Andy
I cannot open the file no matter how I try. Most likely due to my own ignorance and incompetence in how to import stuff into Powerlanguage Editor...
Could I ask you to please post the code as plain text so that I can just copy-paste it?
Thank you for sharing!
All the best
Andy
Re: ATR (Average True Range)
Sorry, just realized your indicator is posted under the .NET thread, and I'm using the basic (non- .NET) version...
Should anyone have Powerlanguage code for ATR, then please share.
Thanks
Andy
Should anyone have Powerlanguage code for ATR, then please share.
Thanks
Andy
Re: ATR (Average True Range)
@andy4444
Did you find this information? I found some code online that claims to have it right, but is isn't working. If you have it, I'd love to know.
For now, I am using XAverage. I figure that's better than SMA.
Thanks,
Rob
PS. My bad. I found it. If anyone needs it, please reply to this thread.
Did you find this information? I found some code online that claims to have it right, but is isn't working. If you have it, I'd love to know.
For now, I am using XAverage. I figure that's better than SMA.
Thanks,
Rob
PS. My bad. I found it. If anyone needs it, please reply to this thread.
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- Joined: 12 Jun 2023
Re: ATR (Average True Range)
Hi!
@biffhero I am very interested in the code for the non .NET version
Regards!
@biffhero I am very interested in the code for the non .NET version
Regards!