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ATR(21)% EMA Next to Candle
ATR, or Average True Range, is a technical analysis indicator that measures market volatility by calculating the average price movement of an asset over a set period. It does not indicate price direction but shows how much a market is fluctuating. A rising ATR indicates higher volatility, while a falling ATR suggests lower volatility.
Trader Mike Webster, known for his work with the growth-focused CANSLIM strategy developed by William O'Neil, has created his own indicator called the Webby RSI, which incorporates ATR. In this application, the ATR is used to scale a stock's movement relative to its 21-day exponential moving average (EMA). In this case it is based on a percentage.
Trader Mike Webster, known for his work with the growth-focused CANSLIM strategy developed by William O'Neil, has created his own indicator called the Webby RSI, which incorporates ATR. In this application, the ATR is used to scale a stock's movement relative to its 21-day exponential moving average (EMA). In this case it is based on a percentage.
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Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.