Average True Range Percent (ATRP)
November 3, 2015, 11:15 AM
Indicators
3 Comments
The Average True Range Percent is the classical ATR indicator normalized to be bounded to oscillate between 0 and 100 percent of recent price variation. As is, it average true range of an instrument can be easily compared to any other because of absolute percentage variation and not prices itselves. Look at screenshot attached for comparaison between german DAX30 an SP500 on thirty minutes timeframe.
//parameters
// p = 14
ATRP = (averagetruerange[p](close)/close)*100
RETURN ATRP as "Average True Range Percent"
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Filename:
Average-True-Range-Percent.itf
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