This indicator display graphically on any intraday chart, the daily Average True Range of the last 20 periods (periods can be modified in the indicator parameter of course) added or substract respectively to the current daily low and the daily high.
An upper and a lower line display these 2 values. I don’t know exactly how it is supposed to be traded, but I think it should be used as breakout of levels or bouncing trades.
This indicator seems to be known as “LEDGE ATR” and has been requested to be converted from MT4 version in our English forums (link in the indicator code).
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//PRC_Daily ATR range intraday | indicator //03.02.2017 //Nicolas @ www.prorealcode.com //Sharing ProRealTime knowledge //https://www.prorealcode.com/topic/showing-customized-daily-indicators-in-smaller-timeframes/ defparam drawonlastbaronly=true // --- parameters //ATRperiod = 20 // --- dTR = 0 for i = 0 to ATRperiod dTR=dTR+max(abs(Dhigh(i)-Dlow(i)),max(abs(Dhigh(i)-Dclose(i+1)),abs(Dlow(i)-Dclose(i+1)))) next avg = dTR/ATRperiod converted = round(avg/pointsize*10)/10 htr = Dlow(0)+avg[1] ltr = Dhigh(0)-avg[1] if intradaybarindex=0 then begin=barindex endif drawsegment(begin,htr,barindex,htr) coloured(200,100,0) drawtext("#htr# - (D1atr: #converted#)",barindex,htr+10*pointsize,Dialog,Bold,10) coloured(200,100,0) drawsegment(begin,ltr,barindex,ltr) coloured(200,100,0) drawtext("#ltr# - (D1atr: #converted#)",barindex,ltr-10*pointsize,Dialog,Bold,10) coloured(200,100,0) return |
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Hi Nicolas,
Have a problem with this line of code
defparam drawonlastbaronly=true
Please complete the syntax of this line.
??
Hope you can advise Nicolas
Best regards
DB
This indicator is prorealtime 10.3 only compatible. If you are still using previous version, that’s why you get this error.
Thanks for the heads up Nicolas!
I’m actually using PRT Premium via IGIndex Spreadbet Account.
At the moment they are still using v10.2
Think I might drop them an email, see when upgrade is due!
🙂
Cheers Nicolas
DB
Hello Nicolas,
i just tried this code but the program says “atrperiod” is not defined. I use PRT 10.3. Can you please help me with this? Thanks a lot
Please download the ITF file and import it into your platform to get the parameter in your indicator window.
Works great! Thanks!
is it possible that the indicator works for the history too not only for the actual day? e.g. for backtesting?
This could be possible but would need a complete recode of the indicator logic. You can add a query on forum, but I don’t know when I could make it.
doesn’t work on IG PRT 10.3 get the indicator window when imported but empty and no projected levels on the chart as on yours…strange…
Please add the indicator on price. Use the wrench in the upper left corner of the price chart to add the indicator.
thank you, seems to be working now.
hI,
I have downloaded ITF file and imported it to PRT, when I choose the indicator I get a blank section with indicator name below main chart, how does it show on main screen.
Thanks Darragh
Please apply it on price instead (use the wrench at the upper left side of the price chart).
Nicolas,
Yes , I did click on the wrench icon, but there is no option to apply on price, it only shows the name of the indicator . I have tried to attach screenshot but it says I cannot attach files to this .
Darragh
got it sorted thanks
Hi Nicolas,
Thanks very much for uploading this, works great. Is there a way to turn this into a scanner? I am basically after getting an alert when something breaks through the ATR indicator level but I am not sure how to set that up.
Thanks
Dan
Please add new request in the appropriate forum. You can also use the assisted creation in the platform. Firstly, you’ll have to add the high end low ATR levels in the RETURN instruction.
Could anyone please help me install this. I am adding it via the wrench but it just appears greyed out and doesn’t display. Thanks
What timeframe? Be sure to add sufficient xx Bars displayd for the indicator to compute correctly.
Hi Nicolas,
this is used as a bouncing off strategy… lets say the market open of the candle and bounce off from daily ATR!!! not sure why it doesn’t match the Daily ATR indicator on prorealtime? Example: on the FTSE my indicator Daily ATR 14 period says 92.548 but your one says D1atr:138.9 ?? any reason why? please help??
Did you change the period to 14 in this indicator too? Are you using customized timezone for FTSE?
hi Nicolas,
yes i have change the in this indicator time to 14 and also tried with 20 and im using this indicator on the 15min chart.. but either 14 period or 20 period doesnt match the normal daily ATR period 14 or 20?
EX: today FTSE – daily ATR = 88.49 and the indicator shows as D1atr 132.9
EURJPY Daily ATR (14)= 127.6 and the indicator(14) 102.4
GBPUSD daily ATR =133.1 and indicator D1atr = 118.33
Be sure to have sufficient bars displayed on your chart for the indicator to compute correctly.
the indicator would show any lines if threre’s not enough sufficient bars displayed .. so 15mins i use minimum 1000 units.. i have tried even 1month but get the same results?? not sure why???
sorry i meant the indicator would NOT show any lines if threre’s not enough sufficient bars displayed .. so 15mins i use minimum 1000 units..
at least 20pips difference pretty much all the markets!!!!
Yes, but that’s a translation of the original code someone asked in forums.
hi Nicolas.. please is there’s a way to fix this? what am i doing wrong? iis everyone else get the right daily ART shown as the indicator??? when i change the ATR period to 7 on the indicator.. that will come a bit closer to daily 14 period ATR!!!!
what can i do to change this in to the right daily ATR? is it something to do with the timezone?
how can i use this indicator on Mt4 ?
Our website does not provide indicators for MT4, we are using ProRealTime trading platform: http://www.prorealtime.com .
If you want some of them to be converted, you ask for private paid assistance to our programming services: https://www.prorealcode.com/trading-programming-services/
Thanks Nicolas. It it working great! It is what I was lokking for! Many thanks! Is it possible to recde it in order to have it as an standalone indicator? As It is in the normal ATR .. soIt will be psssible o have historicata, averages and so on,.. Many thanks
Change the last line to
RETURN htr,ltr
Dear Nicolas et all, why do bodies and wicks in MT4 and PRT are different? what time setting I shud use to sync them, pls?
I don’t know, depends of your broker timezone.
Hi Nicolas
I was the person who asked for this code to be made a couple years back, I stopped using it once It wasn’t matching the default PRT 20day number that the below chart indicator produces, I was wondering if you every updated it with a fix? The code I have for this is attached, would appreciate your feedback thanks
defparam drawonlastbaronly=true
// — parameters
ATRperiod = 20
// —
dTR = 0
for i = 0 to ATRperiod
dTR=dTR+max(abs(Dhigh(i)-Dlow(i)),max(abs(Dhigh(i)-Dclose(i+1)),abs(Dlow(i)-Dclose(i+1))))
next
avg = dTR/ATRperiod
converted = round(avg/pointsize*10)/10
htr = Dlow(0)+avg[1]
ltr = Dhigh(0)-avg[1]
if intradaybarindex=0 then
begin=barindex
endif
drawsegment(begin,htr,barindex,htr) coloured(200,100,0)
drawtext(“#htr# – (D1atr: #converted#)”,barindex,htr+10*pointsize,Dialog,Bold,10) coloured(200,100,0)
drawsegment(begin,ltr,barindex,ltr) coloured(200,100,0)
drawtext(“#ltr# – (D1atr: #converted#)”,barindex,ltr-10*pointsize,Dialog,Bold,10) coloured(200,100,0)
return
Try with this modification:
for i = 0 to ATRperiod-1
The ADR value that is plotted intraday does not match the value of the regular ATR indicator of the daily timeframe (for the same period of course).
Example:
The ATR (20) value of the daily chart of the EURUSD is currently 105 today and was 108 last friday.
But this indicator is calculating a 89,7 ADR.
Is there a way to fix this?
Any help would be appreciated.
Hello Nicolas, this topic is a bit old but the problem of this indicator has never been addressed.
The ADR value that is plotted intraday does not match the value of the regular ATR indicator of the daily timeframe (for the same period of course).
Example:
The ATR (20) value of the daily chart of the EURUSD is currently 105 today and was 108 last friday.
But this indicator is calculating a 89,7 ADR.
Is there a way to fix this?
Any help would be appreciated.
I’ve tried to get a fix for this also but no luck, it doesn’t print the correct data as far as I’ve tested. A shame as its a very important factor. Ideally a daily/weekly/monthly ATR self adjusting would be very useful, but I’m no coder
Hi! With the new PRT update, this indicator does not work anymore