I need a code for the indicator, using the following functions and variables:
ATR: The Average True Range function calculates the true range of the price over a specified period.
Volume: The Volume function returns the total volume traded over a specified period.
Average Volume: You’ll need to calculate the average volume over a certain period, such as 14 days.
Price: The current price of the security.
Conditions: Create logical conditions based on your requirements.
Color: Set the color of the bar based on the conditions met.
The logic for the conditions would be as follows:
if ATR > 2 * ATR[14] and Volume > AverageVolume and Price > Price[1]:
Color = “DarkGreen”
elif ATR > 2 * ATR[14] and Volume > AverageVolume and Price < Price[1]:
Color = “DarkRed”
else:
Color = “DefaultColor”