ZenLab ATR FNS

This indicator was created specifically for Zen Labs which includes a custom ATR (Average True Range) table that displays the ATR value for a selected period of candles.

ATR is a volatility indicator that measures the average range between high and low prices over a given number of periods. It helps traders assess how much an asset typically moves, providing valuable information for setting stop losses, take profits, or identifying market conditions. It adapts to changing market conditions, making it useful across different timeframes and asset classes.

How the ATR Indicator Works:
The ATR is based on the concept of True Range (TR), which is the greatest of the following three values:
- Current High minus Current Low
- Absolute value of Current High minus Previous Close
- Absolute value of Current Low minus Previous Close

Averaging the True Range:
Once the True Range is calculated for each period, the ATR is computed by averaging these True Ranges over a set number of periods and is displayed in the table.

Interpreting the ATR:
- A higher ATR value indicates higher volatility—prices are moving more significantly.
- A lower ATR value indicates lower volatility—prices are more stable and less active.

Enjoy!

- Rebel Empire