Average True Range Refurbished

💡 Objective
This script is a rebuild of the pre-existing ATR indicator, with improvements and fine-tuning.

🪄Improvements

1. Normalization option (range 0 to 100)

2. Optional calculation of the ratio between current volatility and average volatility

3. Optional smoothing

4. Show a moving average

5. Show Bollinger Bands with 3 bands

6. Change bar colors according to ATR and Bollinger Bands

📚 Definition

'The Average True Range (ATR) is a tool used in technical analysis to measure volatility. Unlike many of today's popular indicators, the ATR is not used to indicate the direction of price. Rather, it is a metric used solely to measure volatility, especially volatility caused by price gaps or limit moves.'
(TradingView)

เอกสารเผยแพร่

Some fixes and improvements.

สคริปต์โอเพนซอร์ซ

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

andre_007

To contribute to my work:
⚡Bitcoin Lightning: forwardocean64@walletofsatoshi.com
🟠Bitcoin: bc1qv0j28wjsg6l8fdkphkmgfz4f55xpph893q0pdh
🔵PayPal: paypal.com/donate/?hosted_button_id=D9KRKY5HMSL9S

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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

สคริปต์โอเพนซอร์ซ

andre_007

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