MovingAverage length ?

[rubixcube49]

If my question has already been answered elsewhere, just pass me the link - no need to repeat it here.

The last parameter in MovingAverage is length, but I can't tell what that means in context.

Here is a relevant snippet of code:
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input length = 7;
input ATRaverageType = AverageType.WILDERS;
def ATR = MovingAverage(ATRaverageType, TrueRange(high, close, low), length);
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I'm using this in a 1D/5m chart. I want length to represent 7 days, not 7 bars.

What does it mean here?

Thank you in advance.

 

[Joshua]

In that context, it means seven bars. Changing it to seven days would also depend on context - seven days worth of 5 minute true range, or the true range of seven complete Daily bars?

For the latter,

input length = 7;
input averageType = AverageType.WILDERS;
input agg = aggregationPeriod.DAY;
plot ATR = MovingAverage(averageType, trueRange(high(period = agg),close(period = agg),low(period = agg)), length);

The other scenario is far more complex. You would need to dynamically fold (loop) backwards through the prior bars, searching for, and terminating the loop, at the bar that represents seven days ago from starting point, while tabulating the ATR along the way. I can show you how to do if it that's what you're actually going for, but if not, I'd rather not waste my time until I know for sure.

 

[rubixcube49]

Joshua, thanks for your reply and a solution, which is spot on given that I was looking for the true range of seven complete Daily bars.

So, is it the case that the aggregation period of the chart defines the value of MovingAverage length?

 

[Joshua]

Yes, it naturally inherits the aggregation period of the chart, unless specifically directed otherwise.