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WiseTrader Toolbox
#1 Selling Amibroker Plugin featuring:
Average True Range Percentage for Amibroker (AFL)
Indicator Description: Average True Range Percent (ATRP) expresses the Average True Range (ATR) indicator as a percentage of a bar’s closing price.
How this Indicator Works: ATRP is used to measure volatility just as the Average True Range (ATR) indicator is. ATRP allows securities to be compared, where ATR does not.
ATR measures volatility at an absolute level, meaning lower priced stock will have lower ATR values than higher price stocks.
ATRP displays the indicator as a percentage, to allow for securities trading at different prices per share to be compared.
https://www.fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/atrp
Screenshots
Indicator / Formula
_SECTION_BEGIN("ATRP");
// Inputs
Lookback = ATR(14);
// Logic
atrValue = Lookback;
atrp = (atrValue/close)*100;
Plot(ATRP,"ATRP",colorWhite,styleThick);
_SECTION_END();1 comments
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good indicator, I made some changes to control ATR period instead of constant period of 14, here it is:
_SECTION_BEGIN(“ATRP”);
// Inputs
range=Param (“range”, 14, 1, 50, 1);
Lookback = ATR;
// Logic
atrValue = Lookback;
atrp = (atrValue/close)*100;
Plot(ATRP,“ATRP”,colorWhite,styleThick);
_SECTION_END();