ATR Pro For ThinkOrSwim

[ImKidKid]

My idea here is that, if Increasing ATR Represents Momentum/Volatility coming into the stock, then if I were to plot a Fast ATR Moving Average against a Slow ATR Moving Average then I should be able to truly see when ATR has increased or decreased instead of just trying to eyeball it from one single ATR plot. So I called it the ATR_Pro. I hope this is helpful

https://imgur.com/5cMhRlx

https://imgur.com/qwMYR01

#ATR Pro Created by  @imkidkid 2/14/2022
#Created on a 5 min timeframe, feel free to adjust the Settings to your liking
#This code was developed by ImKidKid. The idea here is that, if Increasing ATR Represents Momentum/Volatility coming into the stock, then if i were to plot A Fast ATR MovingAverage against a Slow ATR MovingAverage then I should be able to truly see when ATR has increased or decreased instead of just trying to eyeball it from one single ATR  plot. Soi called it the ATR_Pro. I hope this is helpful

# How to use this indicator:
# If The cloud is Magenta, Momentum/volatility is increasing,
# If The Cloud  is Dark Red, Expect Chop/decrease in momentum/volatility
declare lower;
input ATRFastMA = 5;
input ATRSlowMA = 20;
input averageType = AverageType.exponential;
def ATR = MovingAverage(averageType, TrueRange(high, close, low), ATRFastMA);
def MaOne = Average(ATR, ATRSlowMA);
AddCloud(ATR,maone, Color.Magenta, Color.Dark_red);