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Is there an indicator that does both sides of an ATR breakout? This may be stupid, but I wonder if there is a good indicator that is based off ATR on both sides of price? I know Supertrend only does the one side. I understand BB's and Keltner's and all that, but those are not based off of ATR.
I have a feeling this is a stupid question and it will be a duh...
Can you help answer these questions from other members on NexusFi?
You can modify the Keltner Channel to use the ATR instead of the simple range. This will give you an emvelope on both sidesof a moving average based on the average true range.
Just use this indicator from the download section and set RangeType to TrueRange via indicator panel.
Exported using NT version 7.0.1000.27
This is a generalized version of the Keltner Channels with a few options added:
- The midband can be selected from a moving median, a moving mode or 27 different moving averages, all of which are calculated …
