True Range Adjusted EMA

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    Posts
  • 01/13/2023 at 10:24 PM #207411 quote
    snucke
    Participant
    Veteran

    Hi!

    Been exploring True Range Adjusted EMA in tradestation but i would like to try it on PRT as well, i could not find it in the library so i if someone could convert it to PRT code

    https://traders.com/Documentation/FEEDbk_docs/2023/01/TradersTips.html#item1

    // TASC JAN 2023
// True Range Adjusted EMA
// Vitali Apirine

inputs:
	Periods( 40 ),
	Pds( 40 ),
	Mltp( 10 );

variables:
	Mltp1( 0 ),
	Mltp2( 0 ),
	Rate( 0 ),
	TH( 0 ),
	TL( 0 ),
	TR( 0 ),
	TRAdj( 0 ),
	TRAdjEMA( 0 );

Mltp1 = 2 / (Periods + 1);
TH = Iff(Close[1] > High, Close[1], High);
TL = Iff(Close[1] < Low, Close[1], Low);
TR = AbsValue(TH - TL); 
TRAdj = (TR - Lowest(TR, Pds)) / 
 (Highest(TR, Pds) - Lowest(TR, Pds));
Mltp2 = TrAdj * Mltp;
Rate = Mltp1*(1 + Mltp2);

if CurrentBar = 1 then 
	TRAdjEMA = Close
else
	TRAdjEMA = TRAdjEMA[1] + Rate * 
	 (Close - TRAdjEMA[1]);
	
Plot1( TRAdjEMA, "TRAdjEMA" );
    01/14/2023 at 8:09 AM #207420 quote
    JS
    Participant
    Senior

    Hi @snucke

    Here is the indicator…

    The name of the indicator is confusing because it has nothing to do with an EMA, the EMA does not appear in the code of the indicator…

    What the indicator does is adjust the price (Close) to the True Range so actually a “True Range Adjusted Close”

    This indicator is then compared with an EMA…

    //True Range adjusted EMA
xPeriods=40
xPds=40
xMltp=10

xMltp1=2/(xPeriods+1)
If Close[1]>High then
xTH=Close[1]
Else
xTH=High
EndIf

If Close[1]<Low then
xTL=Close[1]
Else
xTL=Low
EndIf

xTR=Abs(xTH-xTL)
xTRAdj=(xTR-Lowest[xPds](xTR))/(Highest[xPds](xTR)-Lowest[xPds](xTR))
xMltp2=xTRAdj*xMltp
xRate=xMltp1*(1+xMltp2)

If BarIndex=xPds then
xTRAdjEMA=Close
Else
xTRAdjEMA=xTRAdjEMA[1]+xRate*(Close-xTRAdjEMA[1])
EndIf

Return xTRAdjEMA as "xTRAdjEMA" Coloured("Yellow")
    01/14/2023 at 12:30 PM #207435 quote
    JS
    Participant
    Senior

    Hi @snucke

    Forget the comment on the indicator…

    The way the indicator is calculated follows the way of an EMA and so you can also call it that…

    01/14/2023 at 5:55 PM #207441 quote
    JS
    Participant
    Senior

    Hi @snucke

    You are welcome…

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True Range Adjusted EMA


ProBuilder: Indicators & Custom Tools

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snucke @snucke Participant
Summary

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

Topic Details
Forum: ProBuilder: Indicators & Custom Tools
Language: English
Started: 01/13/2023
Status: Active
Attachments: 1 files
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