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I am looking for an indicator that will give me the ratio of the ATR on two different time periods. For example, the ratio of the 5 period ATR to the 40 period ATR.
I just started using NT8 and was looking for a way to insert this ATR ratio number into the market analyzer so that I could use it to spot volatility compression in different markets. I'd have it change the color of the cell whenever the ratio of the shorter period ATR to the longer period ATR was less than .5 ((ATR(5)/ATR(40))<.5) or something like that.
It's really easy to insert the ATR number into the market analyzer, and I can insert it for multiple periods. Currently I have the short period ATR and the long period ATR side by side in the market analyzer, and I just do the math at a glance (see attached screenshot).
I'm not sure if I have to learn coding to build this myself, or if something like it already exists, or if there is a way of creating it that is easier than coding it. I'm hoping the community here can point me in the right direction
I wrote a simple ATR Ratio indicator for you. You can put it in your Market Analyser as an indicator and add conditions to change the colors. It is pretty simple so feel free to use/change the code.
This indicator basicly just divides the "Short Period ATR" by the "Long Period ATR" so atrS/atrL.
It looks great on a chart. For some reason it only outputs "0" as the value when I view it in the Market Analyzer (see attachment). Am I doing something wrong?
Thank you again I'm looking forward to using this to help me focus my trading efforts on markets that are more likely to move!
no problem at all......I just put it on my market Analyzer and it seems to be working for me ok. the only think I noticed on yours is it shows (5, 40) instead of (40,5)...did you set the short period to 40 and long period to 5?
Also what data period are you using (can not see in your pic). I just used 1 min data and it seems to be working, but need to know what yours is set at to troubleshoot.
I adjusted the periods and set it to 1 minute data and it works great I was trying to use it with 1 day data, and it doesn't work for that data period, and I'm not sure why. I just changed the look back period from 2 days to 40 days, but it didn't make a difference from what I could tell.
It does not work if there is not enough data for it to calculate with. If you are going to use daily period then you will need to load more data (normally more then you need...and i think you have to included weekends). It works if you load 100 days (with a 5,40 setting).
Glad it works for you.....let me know if there are any other issues with it...
