House of Traders: ATR vs Day Trading Range and PercentageThis indicator compares the current Daily ATR (Average True Range) with the current Day Range and displays the percentage difference.
For example, if the Daily ATR is $5 and the current Day Range is $10, this would be 200% of the ATR value.
The indicator is color-coded (and customizable) to change color based on the percentage difference:
Orange when the Day Range is below the low threshold.
Green when the Day Range is between the low and high thresholds.
Red when the Day Range exceeds the high threshold.
The ATR calculation is always based on the Daily timeframe, regardless of the chart's timeframe. For example, if you are using a 30-minute chart, the ATR is still calculated from the Daily timeframe.
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Atrpercent
Average True Range - ImprovedAverage True Range - Improved is a small variation I have made to the standard ATR indicator. It will test the current ATR against the Historic Average ATR of your preference to see if the current volatility is high or low.
Once it has determined if it is high or low it will color code the circles at the top based on this information. Green means the current volatility is low and red means the current volatility is higher than the historic average.
In the settings I have also placed a couple styles, if you wish to show the ATR and Historic ATR in percent format instead of normal you can turn them on in the style settings. If you are using the percent format I recommend setting the Precision to 2-3 decimal places.
I hope you all enjoy this indicator, if you have any questions please feel free to post them in the comments.
ATR vs Day Trading Range and PercentageThis indicator displays the Current Daily ATR vs the current Day Range and displays the percentage.
For example if the Daily ATR is $5 and the current range of the day is $10 this would be 200% the original move.
It is color coded (and can be modified) to change color when the Daily range is over 100% the ATR.
The time frame can be changed from Daily just be aware you must be on a lower timeframe then selected. So if you want to compare the current 30 minute ATR to the current 30 minute range you will need to be showing a 30 min chart or lower for it to calculate correctly.
