ADR percent

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  • 01/28/2021 at 9:29 PM #159733 quote
    freecat1899
    Participant
    Junior

    Hello,

    I made a question in this post in the library, but i guess it’s hard to see there, maybe someone can help me here:

    Average (Daily) Range

    Hello, I wanted to create a percent ADR based on this indicator, so I wrote this code that IMO it looks ok:

    // AVERAGE DAILY RANGE PERCENTAGE

PMAXAVG = average[p](high)
PMINAVG = average[p](low)
PAVG = average [p] (close)
ADRP = (PMAXAVG – PMINAVG)/PAVG*100

return ADRP as “Average Daily Range Percent”

    However, when I use it, it doesn’t seem to give out correct values as it is giving me a higher value than the ATRP described in this post for the same 20 daily periods:

    Average True Range Percent (ATRP)

    From my understanding of ADRP and ATRP, ADRP should always be lower than ATRP as it doesn’t include gaps.

    Can someone help me out? thanks

    01/28/2021 at 9:49 PM #159737 quote
    robertogozzi
    Moderator
    Master

    Always use the ‘Insert PRT Code’ button when putting code in your posts to make it easier for others to read.

    Thank you 🙂

    01/28/2021 at 10:34 PM #159744 quote
    Vonasi
    Moderator
    Master

    Try changing line 6 to:

    ADRP = ((PMAXAVG – PMINAVG)/PAVG)*100
    01/28/2021 at 11:24 PM #159747 quote
    freecat1899
    Participant
    Junior

    Thanks a lot, however that doesn’t seem to change the formula, it gives the same result.

    With 90% of stocks, it seems that both the ATRP and the ADRP I posted give the correct value. But with some of them ADRP is bigger. With SNDL for instances. Any clue?

    01/29/2021 at 12:37 PM #159812 quote
    robertogozzi
    Moderator
    Master

    Try comparing the two with this code:

    // AVERAGE DAILY RANGE PERCENTAGE
p       = 14
ATRP    = (averagetruerange[p](close)/close)*100
PMAXAVG = average[p](high)
PMINAVG = average[p](low)
PAVG    = average [p] (close)
ADRP    = (PMAXAVG - PMINAVG)/PAVG*100
return ADRP as "Average Daily Range Percent",ATRP as "Average True Range Percent"

    Moreover, the above code doesn’t skip gaps.

    JohnScher thanked this post
    01/30/2021 at 10:55 PM #159965 quote
    freecat1899
    Participant
    Junior

    Hi,

    This code you posted gives as a result both the ADRP and ATRP i posted in a single indicator.

    However, the issue is still the same. In most stocks the ATRP is higher than the ADRP, but in some the ADRP is higher. From my understanding of ADRP and ATRP that should be impossible as ATRP includes gaps and ADRP doesn’t, hence ATRP must always be bigger than ADRP.

    Can someone confirm or explain to me if I’m wrong.

    In case that’s ok, I would greatly appreciate if someone can give me the correct formula for ADRP.

    Thank you,

    01/30/2021 at 11:13 PM #159966 quote
    Vonasi
    Moderator
    Master

    AVERAGETRUERANGE uses a Wilder moving average where as your ADRP uses a simple moving average.

    02/06/2021 at 10:03 PM #160553 quote
    freecat1899
    Participant
    Junior

    Well, thank you very much good sir, that explains the slight discrepancy. Then it’s not that important. I added both indicators in a single box and go by the highest.

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ADR percent


ProBuilder: Indicators & Custom Tools

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freecat1899 @freecat1899 Participant
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This topic contains 7 replies,
has 3 voices, and was last updated by freecat1899
5 years, 1 month ago.

Topic Details
Forum: ProBuilder: Indicators & Custom Tools
Language: English
Started: 01/28/2021
Status: Active
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