ATR ADR Indicator (with %) For ThinkOrSwim

[K_O_Trader]

I couldn't find one in this forum that was simple and showed percentages of the price. Plots both ADR and ATR with their percentages as labels.

Let me know if it can be improved.

declare lower;

input length = 14;

plot ATR = MovingAverage(AverageType.wilders, TrueRange(high, close, low), length);
ATR.SetDefaultColor(GetColor(8));

AddLabel (yes, "ATR:" + Round((ATR / close) * 100, 3) + "%", Color.WHITE);


AddLabel (yes, "ATR:" + round((ATR) , 3), Color.white);


plot ADR = MovingAverage(AverageType.wilders, high-low, length);
ADR.SetDefaultColor(GetColor(6));

AddLabel (yes, "ADR:" + round((ADR) , 3), Color.light_green);

AddLabel (yes, "ADR:" + Round((ADR / close) * 100, 3) + "%", Color.light_green);

This is great any way to make the ATR % Label into a watchlist column?

 

[K_O_Trader]

This is great any way to make the ATR % Label into a watchlist column?

I figured it out, Watchlist column for ATR as a percentage is posted below

declare lower;

input length = 14;

plot ATR = MovingAverage(AverageType.wilders, TrueRange(high, close, low), length);
ATR.SetDefaultColor(GetColor(8));

AddLabel (yes, "" + Round((ATR / close) * 100, 3) + "%", Color.WHITE);

 

[tdya888]

@MColb Yes. Try the below code, make sure to change the length to however many bars you wish to use as the average.

# Scan for Average Daily Range of 14 bars to be > 5%
def length = 14;
plot scan = (average(high - low, length)/close*100) > 5;

Hello,

Would you be kindly enough to add another criteria where to filter out stock under $5 with 5% or less not showing on the scanner? Thank you very much.

 

[merryDay]

Hello,

Would you be kindly enough to add another criteria where to filter out stock under $5 with 5% or less not showing on the scanner? Thank you very much.

To scan for Average Daily Range of 14 bars to be > 5% and price > $5

# Scan for Average Daily Range of 14 bars to be > 5%  and price > $5
def length = 14;
plot scan = (average(high - low, length)/close*100) > 5 and close>5 ;

 

[yeshsub]

@jng

I couldn't find one in this forum that was simple and showed percentages of the price. Plots both ADR and ATR with their percentages as labels.

Let me know if it can be improved.

declare lower;

input length = 14;

plot ATR = MovingAverage(AverageType.wilders, TrueRange(high, close, low), length);
ATR.SetDefaultColor(GetColor(8));

AddLabel (yes, "ATR:" + Round((ATR / close) * 100, 3) + "%", Color.WHITE);


AddLabel (yes, "ATR:" + round((ATR) , 3), Color.white);


plot ADR = MovingAverage(AverageType.wilders, high-low, length);
ADR.SetDefaultColor(GetColor(6));

AddLabel (yes, "ADR:" + round((ADR) , 3), Color.light_green);

AddLabel (yes, "ADR:" + Round((ADR / close) * 100, 3) + "%", Color.light_green);

View attachment 8194

@jngy2k. Thank you. I augmented the script with averages aid in comparing both these metrics with the averages for the same 14 day period. Thanks for your code in the first place

# ver 2 additions by Yesh Subramanian 9/21/25
# - Changed ATR labels to Color.YELLOW to correspond with the chart
# - Kept ADR labels as Color.LIGHT_GREEN (unchanged) to map with chart in darker green
# - Added Avg ATR labels as Color.WHITE to map with chart
# - Added Avg ADR labels to Color.GRAY to map with chart

declare lower;
input length = 14;

# ATR
plot ATR = MovingAverage(AverageType.WILDERS, TrueRange(high, close, low), length);
ATR.SetDefaultColor(GetColor(8));
AddLabel(yes, "ATR: " + Round(ATR, 3), Color.YELLOW);
AddLabel(yes, "ATR: " + Round((ATR / close) * 100, 3) + "%", Color.YELLOW);

# ADR
plot ADR = MovingAverage(AverageType.WILDERS, high - low, length);
ADR.SetDefaultColor(GetColor(6));
AddLabel(yes, "ADR: " + Round(ADR, 3), Color.LIGHT_GREEN);
AddLabel(yes, "ADR: " + Round((ADR / close) * 100, 3) + "%", Color.LIGHT_GREEN);

# Average ATR
plot AvgATR = MovingAverage(AverageType.SIMPLE, ATR, length);
AvgATR.SetDefaultColor(GetColor(9));
AddLabel(yes, "Avg ATR: " + Round(AvgATR, 3), Color.WHITE);
AddLabel(yes, "Avg ATR: " + Round((AvgATR / close) * 100, 3) + "%", Color.WHITE);

# Average ADR
plot AvgADR = MovingAverage(AverageType.SIMPLE, ADR, length);
AvgADR.SetDefaultColor(GetColor(7));
AddLabel(yes, "Avg ADR: " + Round(AvgADR, 3), Color.GRAY);
AddLabel(yes, "Avg ADR: " + Round((AvgADR / close) * 100, 3) + "%", Color.GRAY);

 

[antwerks]

https://tos.mx/!Te4nKu1g Gives you the ability to input how many "days" or the time frame you want to look at and compares the ATR off of the mean ATR of those input timeframes

https://tos.mx/!kitAIOTh this gives you the percentage of the ATR value based of an avg over inputted timeframe

Practical Application to Price Action

• Entry Signals: Look for ATRLine near LowThresholdLine with a "LOW ATR" label— This could precede a breakout, prompting a bull put spread with 30-40 delta.
• Exit Signals: If ATRLine hits HighThresholdLine with "HIGH ATR," price action may be overstretched
• Momentum Assessment: Compare "Current ATR" to "Mean ATR." If current exceeds mean by >0.5, price action is accelerating, supporting your strategy of exiting when momentum is highest.
• Range Context: The distance between LowThresholdLine and HighThresholdLine shows the historical volatility range. If ATRLine oscillates within this, expect range-bound action; breaches suggest trend shifts.