ATR (Average True Range)

tradetree
Posts: 81
Joined: 29 Apr 2013
Location: www.threefoldmarkets.com
Has thanked: 12 times
Been thanked: 16 times
Contact:

ATR (Average True Range)

Postby tradetree » 13 Dec 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
Attachments
ATR.pln
(1.97 KiB) Downloaded 286 times
These users thanked the author tradetree for the post (total 3):
Henry MultiСhartsdtl-sawjarym

andy4444
Posts: 25
Joined: 14 Nov 2013
Has thanked: 8 times
Been thanked: 2 times

Re: ATR (Average True Range)

Postby andy4444 » 18 Jan 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
Posts: 25
Joined: 14 Nov 2013
Has thanked: 8 times
Been thanked: 2 times

Re: ATR (Average True Range)

Postby andy4444 » 18 Jan 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


Return to “User Contributed Studies”