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Average True Range by Welles Wilder (Custom)

The ATR indicator measures a security’s volatility. Wilder defined the true range
concept as the greatest value of the:

  • Current high less the current low
  • Absolute value of the current high less the previous close
  • Absolute value of the current low less the previous close.

If you need to calculate it yourself in MetaStock it can be created as follows:


Average True Range (Custom)

{ATR period}
period:=Input(“ATR Period :”,1,100,5);

{Calculate the biggest difference based on the true range concept}
diff1:=Max(H-L,Abs(H-Ref(C,-1)));
diff2:=Max(diff1,Abs(L-Ref(C,-1)));

{Use Wilders moving average method to calculate the ATR}

Mov(diff2,period*2-1,E)



Average_True_Range_Custom

 

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