ATR% (ADR) multiple from MA

[JKov]

Hello,

Could anyone please suggest if such an indicator exists or you could please help create one?
It plots a chart line below the chart or overlaid in the price chart. It calculates a percent extended away from its moving average, either simple or exponential, 20 day or 50 day.

Thank you

 

[halcyonguy]

Hello,

Could anyone please suggest if such an indicator exists or you could please help create one?
It plots a chart line below the chart or overlaid in the price chart. It calculates a percent extended away from its moving average, either simple or exponential, 20 day or 50 day.

Thank you

i think this is what you want.
it plots an average.
then it plots 2 more lines, 1 above the average and 1 below it.
the line spacing are ( the ATR times a factor number )

def na = double.nan;
def bn = barnumber();

def data = close;
input avg1_type = AverageType.Simple;
input avg1_length = 20;
def avg1 = MovingAverage(avg1_type, data, avg1_length );

plot zavg1 = avg1;
zavg1.SetDefaultColor(Color.cyan);
zavg1.setlineweight(1);
zavg1.hidebubble();

def atr1 = atr();
input atr_factor = 1.0;

plot zhi = avg1 + (atr_factor * atr1);
plot zlo = avg1 - (atr_factor * atr1);

addlabel(1, "ATR " + atr1, color.yellow);
#
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