ATR%, ATR Timer and Range Expansion signal — Indicator by IvanLabrie

ATR statistics

atr statistics

These 3 indicators can be really useful.
The usage is fairly straightforward, if you understand price action, having an statistical edge like these provide can be useful.
Refer to Tim West's charts to learn more about range expansion bars.
The idea for the Atr% and Atr timer come from discussions I had with Yacine Kanoun, props to him for his contribution.

🔒Want to dive deeper? Check out my paid services below🔒

ivanlabrie.substack.com/

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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.

Want to use this script on a chart?

study(title="ATR%", shorttitle="ATR%", overlay=false)
source = close
length = input(1, minval=1, title = "EMA Length")
atrlen = input(10, minval=1, title = "ATR Length")
ma = ema(source, length)
range =  tr
rangema = ema(range, atrlen)

atrp = (rangema/ma)*100
avg = ema(atrp,30)
plot(atrp, color=black)
plot(avg, color=maroon)