DTR vs ATR Indicator for ThinkorSwim

[generic]

@hydroflask Do another as in write another line of code that checks the ATR in a decreasing order. Hope that helps.

 

[dvorakm]

Found this interesting indicator which provides basic info...however, there is something wrong with the code. The commented lines are the issue. Can anyone figure out how to correct this?

#Study:Info
#by thetrader.top
input ATRLength = 14;
input ShowATR = {default “1”, “0”}; #Average True Range
input AvgVolume = {default “1”, “0”}; #Average volume for the last 14 days
input Volume_ = {default “1”, “0”}; #Volume for today
input ATRPlay = {default “1”, “0”}; #How many ATR’s stock moved today
input VolumePlay = {default “1”, “0”}; #How many of its average volumes stock traded for the last 65 days.
def _ATR_D = TrueRange(high(period = “DAY”), close(period = “DAY”), low(period = “DAY”));
def iATR_D = Round(Average(_ATR_D, ATRLength)[1], 2);
AddLabel (!ShowATR, “ATR(“ + ATRLength + ”) “ + iATR_D, Color.GRAY);
def iAvgVolume = Round(Average (volume(period = “DAY”)[1], 65) / 1000, 0);
AddLabel (!AvgVolume, “AvgVol “ + iAvgVolume + “k”, Color.GRAY);
def iVolume = Round(volume(period = “DAY”) / 1000, 0);
AddLabel (!Volume_, “Vol “ + iVolume + “k”, Color.LIGHT_GREEN);
#def iATRPlay = Round((high(period = “DAY”) — low(period = “DAY”)) / iATR_D, 1);
#AddLabel (!ATRPlay, “ATRPlay “ + iATRPlay + “(“ + Round(high(period = “DAY”) — low(period = “DAY”), 2) + “)”, Color.LIGHT_GREEN);
def iVolumePlay = Round(iVolume / iAvgVolume, 2);
AddLabel (!VolumePlay, “VolPlay “ + iVolumePlay, Color.LIGHT_GREEN);
def Gap = Round((open(period = “DAY”) - close(period = “DAY”)[1]) / close(period = “DAY”)[1] * 100, 2);
AddLabel (yes, “Gap “ + Gap + ”%”, Color.LIGHT_GREEN);
def ATRcur = Round (Average(TrueRange(high, close, low)[1], 5));
AddLabel (yes, “ATR(5) “ + ATRcur, if (ATRcur <= 0.20) then Color.GREEN else Color.RED);

This is a description of what the indicator is:

ATR(14) — how much the stock can move per day. Calculated on the average value of 14 days.
AvgVol — average trading volume for a stock over the past 65 days, calculated in thousands.
Vol — how many shares traded today.
ATRPlay — how much today the price has passed relatively from Low to High. It is calculated in dollars and% relative to the average. The screenshot shows that the average price moves $ 5.5, and today the action has already passed 5.53, the one after ATRPlay is 100%. Without unnecessary symbols to save space. According to my strategy, the potential is no longer there, which means that the share has to be taken in the opposite direction.
VolPlay — What is the volume as a percentage now, the trading volume is relative average. An important parameter for an intraday trader, it is considered as a percentage. 104% on the screen. This means that if you looked at the beginning of the day … This is clearly increased volume. If a stock trades 100% in the first hour, a large seller or buyer is guaranteed to sit there.
Gap — % of gap at the opening is purely informational. I do not analyze in any way, but in some strategies traders rely on it when making a decision.
ATR (5) — And the last parameter is the average price spread for the last 5 bars. If you place a stop, it cannot be less than this value in any way. Otherwise, you will simply be carried away by the noise of the market.

 

[MerryDay]

@dvorakm The code doesn't present with any syntax errors.

 

[BenTen]

@dvorakm I don't see anything wrong with the code. I was able to add it to my chart.

 

[horserider]

#Study:Info
#by thetrader.top
input ATRLength = 14;
input ShowATR = {default “1”, “0”}; #Average True Range
input AvgVolume = {default “1”, “0”}; #Average volume for the last 14 days
input Volume_ = {default “1”, “0”}; #Volume for today
input ATRPlay = {default “1”, “0”}; #How many ATR’s stock moved today
input VolumePlay = {default “1”, “0”}; #How many of its average volumes stock traded for the last 65 days.
def _ATR_D = TrueRange(high(period = “DAY”), close(period = “DAY”), low(period = “DAY”));
def iATR_D = Round(Average(_ATR_D, ATRLength)[1], 2);
AddLabel (!ShowATR, “ATR(“ + ATRLength + ”) “ + iATR_D, Color.GRAY);
def iAvgVolume = Round(Average (volume(period = “DAY”)[1], 65) / 1000, 0);
AddLabel (!AvgVolume, “AvgVol “ + iAvgVolume + “k”, Color.GRAY);
def iVolume = Round(volume(period = “DAY”) / 1000, 0);
AddLabel (!Volume_, “Vol “ + iVolume + “k”, Color.LIGHT_GREEN);
def iATRPlay = Round((high(period = “DAY”) - low(period = “DAY”) / iATR_D), 1);
AddLabel (!ATRPlay, “ATRPlay “ + iATRPlay + “(“ + Round(high(period = “DAY”) - low(period = “DAY”), 2) + “)”, Color.LIGHT_GREEN);
def iVolumePlay = Round(iVolume / iAvgVolume, 2);
AddLabel (!VolumePlay, “VolPlay “ + iVolumePlay, Color.LIGHT_GREEN);
def Gap = Round((open(period = “DAY”) - close(period = “DAY”)[1]) / close(period = “DAY”)[1] * 100, 2);
AddLabel (yes, “Gap “ + Gap + ”%”, Color.LIGHT_GREEN);
def ATRcur = Round (Average(TrueRange(high, close, low)[1], 5));
AddLabel (yes, “ATR(5) “ + ATRcur, if (ATRcur <= 0.20) then Color.GREEN else Color.RED);

I got the errors but corrected in above code. Seemed problem was here. Shown in bold.
def iATRPlay = Round((high(period = “DAY”) — low(period = “DAY”)) / iATR_D, 1);
AddLabel (!ATRPlay, “ATRPlay “ + iATRPlay + “(“ + Round(high(period = “DAY”) — low(period = “DAY”), 2) + “)”, Color.LIGHT_GREEN);

 

[dvorakm]

#Study:Info
#by thetrader.top
input ATRLength = 14;
input ShowATR = {default “1”, “0”}; #Average True Range
input AvgVolume = {default “1”, “0”}; #Average volume for the last 14 days
input Volume_ = {default “1”, “0”}; #Volume for today
input ATRPlay = {default “1”, “0”}; #How many ATR’s stock moved today
input VolumePlay = {default “1”, “0”}; #How many of its average volumes stock traded for the last 65 days.
def _ATR_D = TrueRange(high(period = “DAY”), close(period = “DAY”), low(period = “DAY”));
def iATR_D = Round(Average(_ATR_D, ATRLength)[1], 2);
AddLabel (!ShowATR, “ATR(“ + ATRLength + ”) “ + iATR_D, Color.GRAY);
def iAvgVolume = Round(Average (volume(period = “DAY”)[1], 65) / 1000, 0);
AddLabel (!AvgVolume, “AvgVol “ + iAvgVolume + “k”, Color.GRAY);
def iVolume = Round(volume(period = “DAY”) / 1000, 0);
AddLabel (!Volume_, “Vol “ + iVolume + “k”, Color.LIGHT_GREEN);
def iATRPlay = Round((high(period = “DAY”) - low(period = “DAY”) / iATR_D), 1);
AddLabel (!ATRPlay, “ATRPlay “ + iATRPlay + “(“ + Round(high(period = “DAY”) - low(period = “DAY”), 2) + “)”, Color.LIGHT_GREEN);
def iVolumePlay = Round(iVolume / iAvgVolume, 2);
AddLabel (!VolumePlay, “VolPlay “ + iVolumePlay, Color.LIGHT_GREEN);
def Gap = Round((open(period = “DAY”) - close(period = “DAY”)[1]) / close(period = “DAY”)[1] * 100, 2);
AddLabel (yes, “Gap “ + Gap + ”%”, Color.LIGHT_GREEN);
def ATRcur = Round (Average(TrueRange(high, close, low)[1], 5));
AddLabel (yes, “ATR(5) “ + ATRcur, if (ATRcur <= 0.20) then Color.GREEN else Color.RED);

I got the errors but corrected in above code. Seemed problem was here. Shown in bold.
def iATRPlay = Round((high(period = “DAY”) — low(period = “DAY”)) / iATR_D, 1);
AddLabel (!ATRPlay, “ATRPlay “ + iATRPlay + “(“ + Round(high(period = “DAY”) — low(period = “DAY”), 2) + “)”, Color.LIGHT_GREEN);

Thank you! You da man!

 

[Legitequities]

Is this measuring the current range abasing the ATR on a daily basis, Periods being days? Can a version be created where it displays the ATR ÷ Current Price of the security to show the ATR % and compare with similar securities?

 

[kdmjrQQQ]

@chada456 I'm looking for a similar scan to check for any equities that have a DTR <= 1 ATR. I could not get yours work (maybe because I don't know how to call out the 1 ATR in the scan. Any suggestions?

 

[Vinny1993]

hi what % its good for buy signal and % for exit ? thank you

 

[Ronathan Edwards]

I love this. However, I'm not getting the ATRplay. As I look at @BenTen pic, his doesn't have it either. Ben, are we missing something? @horserider you know anything about this? I'm not getting the ATRplay label.... Thanks!

 

[anycolour]

Maybe create a watchlist out of this? Alert system?

 

[Ronathan Edwards]

@BenTen any word on the ATRplay problem? I would really appreciate it.

 

[anycolour]

How to make this work for the ToS mobile app?

 

[BenTen]

@anycolour You can't display labels in the mobile app.

 

[anycolour]

I'm trying to find the DTR (Daily Trading Range) on the App. Is the only way to do it, to manually subtract the day's low from the day's high?

 

[Ninja Bull]

Hello everyone-can anyone work on a DTR Watchlist? We can plug the ATR on the Watchlist, but not the DTR

 

[BenTen]

@Ninja Bull Here you go:

# Custom ATR Plot by 7of9 for BRT
# edited 3/20/19
# Modified by BenTen to plot DTR as a watchlist column

input AtrAvgLength = 14;
def ATR = WildersAverage(TrueRange(high(period = aggregationPeriod.DAY), close(period = aggregationPeriod.DAY), low(period = aggregationPeriod.DAY)), AtrAvgLength);
def TodayHigh = Highest(high(period = aggregationPeriod.DAY), 1);
def TodayLow = Lowest(low(period = aggregationPeriod.DAY), 1);
def DTR = TodayHigh - TodayLow;
def DTRpct = Round((DTR / ATR) * 100, 0);
plot Data = DTRpct;

 

[mnsair]

Hi Thinkers,
Is there any scanner that I can put to pull all the stocks where DTR is 150% greater than ATR?

 

[JohnWick4]

# ATRLabel

#

# Displays Average True Range over the last 40 periods and the current period

#

input ATRLength = 40;

# historical ATR

def ATRValue = Average(TrueRange(high, close, low), ATRLength);

def ATRPercent = ATRValue / close * 100;

# current period range

def ATRLastBar = TrueRange(high, close, low);

AddLabel(yes, ATRLength + " Period ATR = $" + Round(ATRValue, 2) + " (" + Round(ATRPercent, 2) + "%), Current Period Range = $" + Round(ATRLastBar, 2) + " (" + Round(ATRLastBar / close * 100, 2) + "%)", CreateColor(153, 153, 0));

Would like to get a color on this label something like the below. Tried to code this but still have to work through my basic coding.

If the atr is =< 25% of 40 atr color orange

If the atr is =< 50% of 40 atr color red

Else atr is => 50% of 40 atr color green

 

[generic]

@JohnWick4 Replace your createcolor code and it should be what you're looking for.

if ATRLastBar <= .25 * ATRValue then color.orange else if ATRLastBar <= .5 * ATRValue then color.red else color.green

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