Daily ATR on 1 hour charts

• 03/31/2021 at 6:11 PM #165877
  darko

  Hi,

  I am still on PRT 10.3 and I would like to create an indicator on my 1 hour charts that traces two lines from the close at 11pm (“close”:

  a line that is equal to “close”+Daily ATR 14
  a line that is equal to “close”-Daily ATR 14

  Can someone help me build that please?

  Thanks

  

  darko

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  03/31/2021 at 6:52 PM #165881
  robertogozzi

  This will use the  current Daily value at 110000, if you prefer yesterday’s ATR value at close time, use the line in the comment (UpdateOnClose instead of Default):

  Timeframe(Daily,Default) //or Timeframe(Daily,UpdateOnClose) to have yesterday's data at close MyATR = AverageTrueRange[14](close) // Timeframe(default) IF Time = 110000 THEN AtrHI = close + MyATR AtrLO = close - MyATR ENDIF RETURN AtrHI AS "Upper Band",AtrLO AS "Lower Band"

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  Timeframe(Daily,Default)              //or Timeframe(Daily,UpdateOnClose) to have yesterday's data at close MyATR = AverageTrueRange[14](close) // Timeframe(default) IF Time = 110000 THEN    AtrHI = close + MyATR    AtrLO = close - MyATR ENDIF RETURN AtrHI AS "Upper Band",AtrLO AS "Lower Band"

  you may also want to replace TIME with OPENTIME as suits you best.

  You may also colour the lines with the indicator properties.

   

  

  robertogozzi

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  04/01/2021 at 1:14 PM #165939
  RubberToe

  Hi there, this was helpful to me for what I’m trying to do, but I have a problem.  I get a calculation error I can’t figure out:

  My objective is to draw ATR lines 45 minutes after market open (USA), so 10:15 EST.  I just have 000000 now for testing.  I want to link the ATR lines to either the current low or high of the day at 10:15 and can float like this for the rest of the day.

  Timeframe(Daily,UpdateOnClose) //or Timeframe(Daily,UpdateOnClose) to have yesterday's data at closeTimeframe(Daily,UpdateOnClose) MyATR = AverageTrueRange[14](close) rmg = (((DHigh(0) - DLow(0))/2)) + DLow(0) //median for day // Timeframe(default) IF (Time => 000000) and (CLOSE > rmg) THEN AtrLO = DLow(0) AtrHI = DLow(0) + MyATR elsif (Time => 000000) and (CLOSE < rmg) THEN AtrHI = DHigh(0) AtrLO = DHigh(0) - MyATR ENDIF RETURN AtrHI AS "Upper Band",AtrLO AS "Lower Band"

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  Timeframe(Daily,UpdateOnClose)              //or Timeframe(Daily,UpdateOnClose) to have yesterday's data at closeTimeframe(Daily,UpdateOnClose) MyATR = AverageTrueRange[14](close) rmg = (((DHigh(0) - DLow(0))/2)) + DLow(0) //median for day // Timeframe(default) IF (Time => 000000) and (CLOSE > rmg)  THEN AtrLO = DLow(0) AtrHI = DLow(0) + MyATR elsif (Time => 000000) and (CLOSE < rmg)  THEN AtrHI = DHigh(0) AtrLO = DHigh(0) - MyATR ENDIF   RETURN AtrHI AS "Upper Band",AtrLO AS "Lower Band"

   

  

  RubberToe

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  04/01/2021 at 6:47 PM #165979
  robertogozzi

  In CET time (Utc +2), 101500 EST (Utc – 4) is 161500.

  In Canada you will have to adjust it to your TZ:

  Timeframe(Daily,UpdateOnClose) //or Timeframe(Daily,UpdateOnClose) to have yesterday's data at closeTimeframe(Daily,UpdateOnClose) MyATR = AverageTrueRange[14](close) rmg = (((High - Low)/2)) + Low //median for day DayHI = high DayLO = low // Timeframe(default) IF (Time => 161500) and (CLOSE > rmg) THEN AtrLO = DayLO AtrHI = DayLO + MyATR elsif (Time => 161500) and (CLOSE < rmg) THEN AtrHI = DayHI AtrLO = DayHI - MyATR ENDIF RETURN AtrHI AS "Upper Band",AtrLO AS "Lower Band"

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  Timeframe(Daily,UpdateOnClose)              //or Timeframe(Daily,UpdateOnClose) to have yesterday's data at closeTimeframe(Daily,UpdateOnClose) MyATR = AverageTrueRange[14](close) rmg   = (((High - Low)/2)) + Low //median for day DayHI = high DayLO = low // Timeframe(default) IF (Time => 161500) and (CLOSE > rmg)  THEN    AtrLO = DayLO    AtrHI = DayLO + MyATR elsif (Time => 161500) and (CLOSE < rmg)  THEN    AtrHI = DayHI    AtrLO = DayHI - MyATR ENDIF RETURN AtrHI AS "Upper Band",AtrLO AS "Lower Band"

  I replaced DHIGH e DLOW with DayHI and DayLO because I was reported a calculation error.

   

   

  1 user thanked author for this post.

  RubberToe

  

  robertogozzi

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  04/01/2021 at 9:19 PM #165992
  RubberToe

  Getting closer thanks. These lines return the median/high/low prices for the day before, but I need them for the live trading day.

  rmg = (((High - Low)/2)) + Low //median for day DayHI = high DayLO = low

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  rmg = (((High - Low)/2)) + Low //median for day DayHI = high DayLO = low

  

  RubberToe

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  04/01/2021 at 11:10 PM #165996
  robertogozzi

  Replace UpdateOnClose with Default in line 1.

   

  

  robertogozzi

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  04/01/2021 at 11:44 PM #165997
  robertogozzi

  Actually using Default in line 1 makes it useless using the Daily TF.

   

  

  robertogozzi

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