Support Board
Date/Time: Mon, 25 Nov 2024 01:28:33 +0000
Post From: Average True Range Indicator
| [2015-03-01 11:17:34] |
| User54027 - Posts: 128 |
|
Hi Support, I work extensively with the ATR and wanted to ask you the following. The basic atr indicator simply tells me what the atr is for the specified time period. For example if the atr on the DJI is 200 points, well I know that the DJI has moved on average 200 points over the past 14 days on average. Whilst this is very useful the indicator does not make the practical implementation of this any easier. Is there not an atr indicator that would take that reading of say 200 points and plot levels automatically on the charts so that you could easily see at a glance how far price has moved in relation to its atr from the open. So for example if the DJI opened at 1000 and the atr was 200 points, it would be very useful to have an atr indicator that would plot say 50%, 75% and 100% of the atr as price levels on the chart. This might be lines drawn at 1100,1150 and 1200 showing the trader exactly where price was in relation to its average true range expected move. Many thanks for your help! |