July 2, 2021

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ATR Percent

Description

Average True Range Percent (ATRP) expresses the Average True Range (ATR) indicator as a percentage of a bar’s closing price.

 

How this indicator works

  • ATRP is used to measure volatility just as the Average True Range (ATR) indicator is. ATRP allows securities to be compared, where ATR does not.
  • ATR measures volatility at an absolute level, meaning lower priced stock will have lower ATR values than higher price stocks. ATRP displays the indicator as a percentage, to allow for securities trading at different prices per share to be compared.

Calculation

ATRP = (Average True Range / Close) * 100

 

This indicator works for MT4/MT5 Multicharts and Tradestation.

How to import indicator: https://strategyquant.com/doc/programming-sq/import-export-custom-indicators-and-other-snippets/

 

 

source: https://www.fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/atrp

 

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