Average Percentage True Range
Avarage True Range Percentage is a volatility indicator that use percent value of the volability. It looks to react better to vol. change. It could be add to other indicator as volatility range value
//@version=2
study("Average Percentage True Range")
len=input(14)
lh = high - low
pc = close[1]
hc = abs( high - pc )
lc = abs( low - pc )
MM = max( max( lh, hc ), lc )
atrs = iff( MM == hc, hc / ( pc + ( hc / 2 ) ),
iff( MM == lc, lc / ( low + ( lc / 2 ) ),
iff( MM == lh, lh / ( low + ( lh / 2 ) ), 0 ) ) )
APTR = 100*atrs*(2/(len+1))+nz(APTR[1])*(1-(2/(len+1)))
plot( APTR,title= "APTR" ,color=red )