ATR SMA EMA and Smoothed(Original)

MoeMiami · Jun 29 2024

I'm sharing here the code I created for different kinds of ATR averages.

1. SMA, this is the default ATR provided by MultiCharts.
2. EMA, exponential average of true range.
3. Smoothed true range, this is the original ATR as described by Wells Wilder and it uses the built-in function DirMovement which has the calculation.

I also added a delay in the plotting so it wont plot the wrong values in the beginning.

ATR.pla: (3.1 KiB) Downloaded 424 times

Capture3.JPG: (58.12 KiB) Not downloaded yet

Code: Select all

inputs:
	Type ( 1 ), //1=SMA 2=EMA 3=SMMA
	ATRLength( 14 ),
	AlertLength( 14 ) ;

variables:
	ATR( 0 ), var0( 0 ), var1( 0 ), var2( 0 ), var3( 0 ), var4( 0 ), var5( 0 ) ;

Value1 = DirMovement( H, L, C, ATRLength, var0, var1, var2, var3, var4, var5 ) ;
 
if Type = 1 then ATR = AvgTrueRange( ATRLength ) ;
if Type = 2 then ATR = XAverage( TrueRange, ATRLength ) ;
if Type = 3 then ATR = var5 ;

if ATR[ATRLength+1] <> 0 then Plot1( ATR, "ATR" ) ; 

                  
condition1 = HighestBar( ATR, AlertLength ) = 0 ;
if condition1 then
	Alert( "Indicator at high" ) 
else 
begin 
condition1 = LowestBar( ATR, AlertLength ) = 0 ;
if condition1 then
	Alert( "Indicator at low" ) ;
end;