ATR (Average True Range)

tradetree · Dec 13 2013

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

andy4444 · Jan 18 2014

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

andy4444 · Jan 18 2014

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

biffhero · Sep 26 2020

@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.

ATCOTrader · Jan 22 2024

Hi!

@biffhero I am very interested in the code for the non .NET version

Regards!

MoeMiami · Jun 29 2024

Hi!

@biffhero I am very interested in the code for the non .NET version

Regards!

viewtopic.php?f=5&p=142683#p142683

ATCOTrader · Jul 03 2024

Thank you!!