ATR ( Percentage based ) Plotted indicator help needed please....

May 2nd, 2015, 04:29 PM

I am looking for an Indicator that will plot the Percentages OF the actual ATR Indicator itself ( as shown in te attached screenshot )

Basically it will plot and show you various percentages OF the ATR ..... 25% , 50%, etc.
based on each individual traders settings and liking

I would like to have this Indicator / strategy developed, as I feel that it will help save some leg work in that we can use it as where to place " Likely " and reasonable profit Targets and even stops, using the ATR and a percentage based and calculated directly from it

Thank you to anyone who can share where this Indicator already is on TorS, or who wouldn't mind coding and developing it

Thanks much - Michael

May 4th, 2015, 11:19 AM

Code

                            
input ATRLength = 14;
input length = 14;
input averageType = AverageType.SIMPLE;
def ATR = MovingAverage(averageType, TrueRange(high, close, low), length);
input levelUp_1 = 70;
input levelUp_2 = 30;
input levelUp_3 = 10;
input levelDn_1 = 10;
input levelDn_2 = 30;
input levelDn_3 = 70;
 
rec levelUp1 = if IsNaN(close[-1]) then levelUp1[1] else ((levelUp_1 / 100) * ATR) + close;
plot l2up = if !isnan(close) then double.NaN else levelUp1;
rec levelUp2 = if IsNaN(close[-1]) then levelUp2[1] else ((levelUp_2 / 100) * ATR) + close;
plot l3up = if !isnan(close) then double.NaN else levelUp2;
rec levelUp3 = if IsNaN(close[-1]) then levelUp3[1] else ((levelUp_3 / 100) * ATR) + close;
plot l1up = if !isnan(close) then double.NaN else levelUp3;

rec levelDn1 = if IsNaN(close[-1]) then levelDn1[1] else close - ((levelDn_1 / 100) * ATR);
plot l2Dn = if !isnan(close) then double.NaN else levelDn1;
rec levelDn2 = if IsNaN(close[-1]) then levelDn2[1] else close - ((levelDn_2 / 100) * ATR);
plot l3Dn = if !isnan(close) then double.NaN else levelDn2;
rec levelDn3 = if IsNaN(close[-1]) then levelDn3[1] else close - ((levelDn_3 / 100) * ATR);
plot l1Dn = if !isnan(close) then double.NaN else levelDn3;

It will plot 3 levels up and 3 levels down on expantion area of chart so you have to set at least 1 bar into expantion area setting (time and axis tab)

May 5th, 2015, 12:27 PM

my mistake...
first line
input ATRLength = 14; is meaningless...delete it.

ATR ( Percentage based ) Plotted indicator help needed please....

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ATR ( Percentage based ) Plotted indicator help needed please....