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Memphis,TN
Posts: 232 since Sep 2010
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the Timeframe chart .
Good morning,
My question is regarding using ATR , and having the " LookBack " period/ settings set correctly based on the timeframe chart that I am looking at
EXAMPLE:
If I am looking at a Daily chart ( where each candle represents 1 days worth of trading ) and I want the ATR to be calculated based on the Last 5 days of trading, would I set the LookBack period to 5 or to 7 ( 5 being the actual number of traded days in a week, or 7 been an actual 7 days that is a week 0 ?
Also,
If I want to look at a Weekly chart ( where each candle represents 1 weeks worth of trading ), and I am trying to get an accurate ATR from the previous week of trading, would I need to change the setting to 1 ( for 1 week ) or can I just leave the settings the same on the ATR , no matter what timeframe chart I am looking it,
and it will automatically calculate it correctly for me by default?
Hope my question is not confusing
and I appreciate the help
Thanks again - Michael
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