ATR *1.5 > Wilders12

[johnwood34]

Attached is a screenshot of a bearish example of the indicator i'm in need of. Would like the indicator to present me with both, a colored candle and an arrow when my conditions are met. Conditions are as follows...Upon the close of a bullish/bearish divergent bar, i'd like to be presented with the above signals when and only if, at the close of the bullish/bearish divergent bar, the average true range (atr), at the close of this candle, is at least one times greater than the 12 wilder's moving average..

 

[halcyonguy]

Attached is a screenshot of a bearish example of the indicator i'm in need of. Would like the indicator to present me with both, a colored candle and an arrow when my conditions are met. Conditions are as follows...Upon the close of a bullish/bearish divergent bar, i'd like to be presented with the above signals when and only if, at the close of the bullish/bearish divergent bar, the average true range (atr), at the close of this candle, is at least one times greater than the 12 wilder's moving average..

please rewrite and elaborate the rules.
list them out one by one for bull and for bear.


...bullish/bearish divergent bar,
is this 1 condition or 2?
if its 2 things, list bullish conditions separate from bearish

what defines a bullish divergent bar?
a bearish ?

... (atr) > 12 wilder's moving average,
this doesn't make sense. atr is a small number. an average is near the stock price. atr will never be > an average
what do you really want?

 

[MerryDay]

I am not sure where you want to end up with your quest.
However, perhaps you want to check out the logic of this indicator:
https://usethinkscript.com/threads/...le-dema-atr-based-loxx-for-thinkorswim.12816/

1. calculates ATR * a multiple
2. determines if the ROC of an average is < or > then the ATR
3. if the ROC is going up, it presents a golong signal; going down: a goshort signal

Looking at the code in the above script perhaps will help you refine your specifications for your quest.