True Range(TR) & ATR Combined – Volatility Strength Indicator

This indicator combines True Range (TR) and Average True Range (ATR) into a single panel for a clearer understanding of price volatility.

True Range (TR) measures the absolute price movement between highs, lows, and previous closes — showing raw, unsmoothed volatility.

Average True Range (ATR) is a moving average of the True Range, providing a smoother, more stable volatility signal.

📊 Usage Tips:

High TR/ATR values indicate strong price movement or volatility expansion.

Low values suggest compression or a potential volatility breakout zone.

Can be used for stop-loss placement, volatility filters, or trend strength confirmation.

⚙️ Features:

Multiple smoothing methods: RMA, SMA, EMA, WMA.

Adjustable ATR length.

Separate colored plots for TR (yellow) and ATR (red).

Works across all timeframes and instruments.