Force Index With ATR Channels

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  • 11/04/2023 at 12:22 PM #223199 quote
    oyinloyea
    Participant
    Veteran

    Please help me with . I am trying to make atr of forceindex. I don’t think is right.

    findex = (close – close[1]) * volume
    f1= ExponentialAverage[periods](findex)
    ATR= AverageTrueRange[14](close)
    ATRU1 = f1 + (AverageTrueRange[14](close) * 1)
    ATRD1 = f1 – (AverageTrueRange[14](Close) * 1)
    ATRU2 = f1 + (AverageTrueRange[14](close) * 2)
    ATRD2 = f1 – (AverageTrueRange[14](Close) * 2)
    ATRU3 = f1 + (AverageTrueRange[14](close) * 3)
    ATRD3 = f1 – (AverageTrueRange[14](Close) * 3)
    return f1 as “f1”, atru1 as “atru1”,atru2 as “atru2”, atru3 as “atru3”,atrd1 as “atrd1”,atrd2 as “atrd2”, atrd3 as “atrd3”, atr as “atr”

    force.docx
    11/04/2023 at 12:50 PM #223201 quote
    JS
    Participant
    Veteran

    Hi,

    If you want to calculate the ATR of the Force Index, you must include the Force Index in your ATR calculation…

    ATR=AverageTrueRange[14](findex) and not ATR=AverageTrueRange[14](Close)

    oyinloyea thanked this post
    12/18/2023 at 2:01 PM #225385 quote
    oyinloyea
    Participant
    Veteran
    I am still having problems with the above. I have recoded it . I think I am doing something wrong. Thanks // Period =13 findex = (close – close[1]) * volume f1= ExponentialAverage[periods](findex) ATR= AverageTrueRange[14](findex) ATRU1 = f1 + (AverageTrueRange[14](close) * 1) ATRD1 = f1 – (AverageTrueRange[14](Close) * 1) ATRU2 = f1 + (AverageTrueRange[14](close) * 2) ATRD2 = f1 – (AverageTrueRange[14](Close) * 2) ATRU3 = f1 + (AverageTrueRange[14](close) * 3) ATRD3 = f1 – (AverageTrueRange[14](Close) * 3) return f1 as “f1”, atru1 as “atru1”,atru2 as “atru2”, atru3 as “atru3”,atrd1 as “atrd1”,atrd2 as “atrd2”, atrd3 as “atrd3”, atr as “atr”
    12/19/2023 at 11:21 AM #225413 quote
    JS
    Participant
    Veteran

    Hi @oyinloyea

    I see you want to use the force index like for example the Bollinger Bands…

    Keep in mind (in the graph) that the force index produces very large values by multiplying by the Volume…

    I’m assuming you want to base the ATR channels on the “force index” and not on the “Close”…

    (In that case, you need to replace the “Close” with “findex”)

    ATRU1 = f1 + (AverageTrueRange[14](findex) * 1) ATRD1 = f1 – (AverageTrueRange[14](findex) * 1) ATRU2 = f1 + (AverageTrueRange[14](findex) * 2) ATRD2 = f1 – (AverageTrueRange[14](findex) * 2) ATRU3 = f1 + (AverageTrueRange[14](findex) * 3) ATRD3 = f1 – (AverageTrueRange[14](findex) * 3)

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Force Index With ATR Channels


ProBuilder: Indicators & Custom Tools

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oyinloyea @oyinloyea Participant
Summary

This topic contains 3 replies,
has 2 voices, and was last updated by JS
2 years, 2 months ago.

Topic Details
Forum: ProBuilder: Indicators & Custom Tools
Language: English
Started: 11/04/2023
Status: Active
Attachments: 1 files
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