OPEN-SOURCE SCRIPT
House of Traders: ATR vs Day Trading Range and Percentage
This indicator compares the current Daily ATR (Average True Range) with the current Day Range and displays the percentage difference.
For example, if the Daily ATR is $5 and the current Day Range is $10, this would be 200% of the ATR value.
The indicator is color-coded (and customizable) to change color based on the percentage difference:
The ATR calculation is always based on the Daily timeframe, regardless of the chart's timeframe. For example, if you are using a 30-minute chart, the ATR is still calculated from the Daily timeframe.
About House of Traders:
House of Traders offers comprehensive coaching and training for day traders, focusing on building consistent trading skills through personalized guidance. Whether you're a beginner or experienced trader, House of Traders provides a proven framework to help you trade with confidence. Join the community and start mastering the U.S. stock market with expert insights and daily trade ideas tailored to your goals.
Important Links
houseoftraders.nl
instagram.com/houseoftraders.nl
instagram.com/casper.wildemast
For example, if the Daily ATR is $5 and the current Day Range is $10, this would be 200% of the ATR value.
The indicator is color-coded (and customizable) to change color based on the percentage difference:
- Orange when the Day Range is below the low threshold.
- Green when the Day Range is between the low and high thresholds.
- Red when the Day Range exceeds the high threshold.
The ATR calculation is always based on the Daily timeframe, regardless of the chart's timeframe. For example, if you are using a 30-minute chart, the ATR is still calculated from the Daily timeframe.
About House of Traders:
House of Traders offers comprehensive coaching and training for day traders, focusing on building consistent trading skills through personalized guidance. Whether you're a beginner or experienced trader, House of Traders provides a proven framework to help you trade with confidence. Join the community and start mastering the U.S. stock market with expert insights and daily trade ideas tailored to your goals.
Important Links
houseoftraders.nl
instagram.com/houseoftraders.nl
instagram.com/casper.wildemast
Script de código aberto
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publications is governed by House rules. Você pode favoritá-lo para usá-lo em um gráfico.
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