ATR Normalized Indicator for ThinkorSwim


New member
Hi there I'm new here and I'm trying to come out a thinkscript similar to the video below.

Adam Khoo uses it in combination with William R to determine market bottom. However I couldn't quite get the thinkscript portion of it, anyone is able to offer any insights that comes close to his?
I will take a look at creating one, see what I get.

declare lower;

input length = 14;
input averageType = AverageType.WILDERS;

def ATR = MovingAverage(averageType, TrueRange(high, close, low), length);

plot normal =( atr/close * 1000);

Could easily be all coded together with trigger arrows will look at that tomorrow.

I tested the idea and it has only found 2 times in 15 years it would have triggered, Tried running it on lower time frames than a weekly and it is of no value so not sure worth going any further.

What normalized atr are you using in TradingView?
Per the requests in this post; I've created a version of this study. I think it's quite helpful in classifying the volatility of the market:


#APTR Percentile Rank for ThinkorSwim Version 1.0
# 2020.04.11 V1.0 @diazlaz - Initial Release
#ATR PercentileRank - Great For Showing Market Bottoms.
#When Increased Volatility to the Downside Reaches Extreme Levels
#it’s Usually a Sign of a Market Bottom.
#This Indicator Takes the ATR and uses a different LookBack Period
#to calculate the Percentile Rank of ATR Which is a Great Way To
#Calculate Volatility

declare lower;

input length = 10;
input length2 = 100; #no. of Bars the PercentileRank uses to Calculate Rank
input averageType = AverageType.WILDERS;
input paintBars = yes;
input showLabels = yes;

AddLabel (showLabels, "APTR Percentile Rank for ThinkorSwim Version 1.0", COLOR.ORANGE);

def bottom = Min(close[1], low);
def tr = TrueRange(high, close, low);
def ptr = tr / (bottom + tr / 2) * 100;
def APTR = MovingAverage(averageType, ptr, length);

#Percentile Rank Calculation
def percentRankCount = fold i = 1 to length2 + 1 with count = 0
  if APTR[0] > APTR[i] then
    count + 1
def percentRank = Round( percentRankCount / length2 * 100.0, 0);

plot pATRRank = percentRank;

plot p25 = 25;
plot p50 = 50;
plot p75 = 75;




#END Of APTR Percentile Rank for ThinkorSwim Version 1.0

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