As simple as it gets, channels based on high, low and ATR distances, Shows possible short term support / resistance or can be used as a take profit/stop-loss in some trading systems. It does this by comparing high/low values of price to multiplied by a multiple of ATR to determine when the trend changes. States are included to change the sensitivity to trend changes. 1 is very sensitive, 3 is least sensitive.
What is ER Adaptive ATR? Average True Range (ATR) is widely used indicator in many occasions for technical analysis . It is calculated as the RMA of true range. This version adds a "twist": it uses Perry Kaufman's Efficiency Ratio to calculate adaptive true range
It's a great indicator. Thanks. However, when I wanted to add an alarm, I couldn't find the long and short options for mid. Can you add?
tradingaccount7777777
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Hey Loxx, thanks dude,
are there any good alternatives to ATR?
Awsm-Jack
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@tradingaccount7777777,In his telegram chanel, he introduce you to the notion of TRD. I'll quote his words, "TRD performs well for low TF strategies, but only for crypto-currencies. " At: 24 Oct 2022 at 01:11 And many thanks for your work, loxxx!
@loxx, Hi, thanks guys. Is there any script I could find the function for TRD? I actually can't find anything about it. Regards Edit: TRD=max(max(High,High[1]),Close[2])-min(min(Low,Low[1]),Close[2]) I think I've found it. Thanks guys, I will test it out.
It's a great indicator. Thanks. However, when I wanted to add an alarm, I couldn't find the long and short options for mid. Can you add?