14 period ATR Envelope on Price

• 10/26/2022 at 2:18 AM #203071
  Mary

  Hello,

  How would you create an indicator on Price Chart  where you want an Envelope to surround your price candles that reflect ATR( 14 period) vertical shift of ATR 10%  Envelope + (10% shift) and Envelope- (10% shift)?

  I want to plot the ATR Indicator you see below in  picture onto Price Chart as an Envelope that shows  calculated value of ATR 10% up and  ATR 10% down.

  In the picture below, the Average True Range is represented (14 period) is represented by dark blue line, Envelop+  is 10%  is orange line and Envelope – 10 % is green line.

  Thank you in advance.

  

  Mary

  Participant

  Topics: 35

  Replies: 40

  Been thanked: 4 times
  10/26/2022 at 8:12 AM #203074
  JS

  Hi @Mary

  Try this:

   

  ATR Envelope

  ATRUp = Close + AverageTrueRange[14](close) * 1.1 ATRDown = Close - AverageTrueRange[14](Close) * 1.1 Return ATRUP as "AtrUp" Coloured(255,0,0) , ATRDown as "ATRDown" Coloured(0,255,0)

  1 2 3 4

  ATRUp = Close + AverageTrueRange[14](close) * 1.1 ATRDown = Close - AverageTrueRange[14](Close) * 1.1   Return ATRUP as "AtrUp" Coloured(255,0,0) , ATRDown as "ATRDown" Coloured(0,255,0)

  

  JS

  Participant

  Topics: 22

  Replies: 1421

  Been thanked: 556 times
  10/26/2022 at 9:04 PM #203107
  Mary

  Thank you so much! It works!

  1 user thanked author for this post.

  JS

  

  Mary

  Participant

  Topics: 35

  Replies: 40

  Been thanked: 4 times
  10/27/2022 at 8:14 AM #203112
  Zigo

  Envelope-ATR exist already in the library.

  https://www.prorealcode.com/prorealtime-indicators/weighted-average-envelope-atr/

   

  

  Zigo

  Participant

  Topics: 23

  Replies: 335

  Been thanked: 60 times
• Author
  Posts