IvanLabrie

ATR%, ATR Timer and Range Expansion signal

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These 3 indicators can be really useful.
The usage is fairly straightforward, if you understand price action, having an statistical edge like these provide can be useful.
Refer to Tim West's charts to learn more about range expansion bars.
The idea for the Atr% and Atr timer come from discussions I had with Yacine Kanoun, props to him for his contribution.
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study(title="ATR%", shorttitle="ATR%", overlay=false)
source = close
length = input(1, minval=1, title = "EMA Length")
atrlen = input(10, minval=1, title = "ATR Length")
ma = ema(source, length)
range =  tr
rangema = ema(range, atrlen)

atrp = (rangema/ma)*100
avg = ema(atrp,30)
plot(atrp, color=black)
plot(avg, color=maroon)
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Comentarios

can you explain how to use this indicator ... i dont see any ref on internet regarding Yacine Kanoun... anything art is always interesting, you never know what you might stumble upon
+4 Responder
Hola Ivan; Cuales son los otros indicators?
+1 Responder
IvanLabrie syracusepro
@syracusepro, revisa los comentarios del thread.
Responder
Thank you for sharing this ATR indicator.

My suggestion would be to also plot the inverse with *-1 because ATR is always confusing. You never know the direction unless you compare price and ATR manually. Example:

Responder
IvanLabrie ChartArt
What do you mean?
ATR is just the range, not used for direction at all.
Responder
ChartArt IvanLabrie
Ok, I thought this %ATR modification had the intention to give it some direction, similar to the %B or %R indicators. Then I was wrong.
Responder
IvanLabrie ChartArt
No, just to give a % value, instead of range in points.
Responder
Came out wrong:

study("R.E.Signal", overlay=true)
rangeup = close+tr
rangedown = close-tr
over() => high > rangeup and close > open
under() => low < rangedown and close < open
barcolor(over() ? green: under() ? red : na)
Responder
ChartArt IvanLabrie
Please post a pastebin with the entire final code version. Thank you :)
Responder
IvanLabrie ChartArt
Yes, I'll do that.
Responder
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