OPEN-SOURCE SCRIPT
[JL] n Bars Average True Range
I just want to use 1-hour ATR on a 5-min chart, but I don't want to use the security function to get 1-hour ATR.
I don't know if there is a similar script but I decided to change a little from the original ATR source code.
Just change tr function to n_true_range function:
Here is the comparison image from a 5-min chart with the nATR and a 1-hour chart with the original ATR.
I don't know if there is a similar script but I decided to change a little from the original ATR source code.
Just change tr function to n_true_range function:
- math.max(ta.highest(high,n) - ta.lowest(low,n), math.max(math.abs(ta.highest(high,n) - close[n+1]), math.abs(ta.lowest(low,n) - close[n+1])))
Here is the comparison image from a 5-min chart with the nATR and a 1-hour chart with the original ATR.
Open-source script
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