Double ATR trend indicator

v10.3
Double ATR trend indicator

Sharing a trend indicator, based upon the ATR of the ATR:  the double ATR trend indicator.

(not knowing if this indicator already exists)

The indicator is smoother then regular averages with the same period setting.

The double ATR trend indicator is calculated as follows:

DATR = Averagetruerange[Period](Averagetruerange[Period](Close))

For detecting the more general trend, the DATR is also calculated on a double period:

DATR2 = Averagetruerange[Period*2](Averagetruerange[Period*2](Close))

The default period setting is 15, the indicator should be added to the graph (like moving averages).  For comparison a 15 bars moving average is added.

Possibly the double ATR trend indicator on a double period could be used as a moving stop loss

As with most trend indicators, this indicator works well in a trending market, but not so well in a non trending, zigzagging market.

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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  1. Screw27 • 170 days ago #

    Hi man, I installed the indicator and i don’t know why but my graph it is so big

  2. HelixKing • 148 days ago #

    sounds interesting I’ll take a look

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