This indicator was inspired by the typical ATR(Average True Range). The ATR simply reports the AVERAGE range of the last n-bars.
This indicator reports the average n-bars, OF A SPECIFIC time. The ACR line will show the AVERAGE volatility of a specific CLOCK TIME. As this is all just an average, it is all calculated at the start of the session, so the Projection can be displayed for the rest of the session. I find that this lends itself to an easier planning of the day around expected movement for various instruments.
This may show users the times of day where price is most likely to move. Helpful for users that focus on larger bars.
You can put this on whatever bar size you want, but must be used on TIME CHARTS. It doesn't make much sense to put on M1 charts imo.
This indicator operates OnEachTic().
The Period sets how many days to look back to capture a range. I.e., an M30 bar @ 9:30, with a period of 5, will display the average range of of that 9:30 bar over the past 5 periods.
Configuration Days is used to get a count of the bars in session, this is mainly useful for people with unreliable data, or putting this on fast charts. Should be able to leave on default.
NOTE: This indicator builds off of your session template, and assumes each session has an equal number of bars in it. If you have custom templates where each day has a different # of bars, this indie may not be of use.
NOTE: Installing this indicator will create a folder called "BTMM," that's where the indicator will be.
---EDIT - V2 9April2020---
Fixed Bug where the indicator was not saving properly with session or chart templates.
Category NinjaTrader 8 Indicators and More
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