ATR - Daily vs Current

8月30日

This script provides a comprehensive view of the Average True Range (ATR) for both the current trading day and a multi-day lookback, giving traders real-time insight into volatility and potential daily price movement. Key features include:

ATR Table:
- Average ATR: 14-day ATR, representing typical daily volatility.
- Today’s ATR: Current day ATR, showing how much the price has moved so far.
- % of Avg ATR Used: Calculates the percentage of the average ATR that has been realized today, helping assess if a move is near exhaustion.

Possible Daily ATR Range Lines:
- Horizontal lines drawn from today’s open representing ±50% and ±100% of the 14-day ATR, providing a visual guide for potential price extremes.
- Lines are updated once per day and extend from the right to the left, clearly marking possible intraday range limits.

Color-coded for clarity:
- Green = +50% ATR
- Red = -50% ATR
- Lime = +100% ATR
- Maroon = -100% ATR

Usage:
- Useful for day traders and intraday scalpers to track volatility and potential price targets.
- Helps in risk management, setting stops, and estimating realistic intraday moves.
- Provides visual cues for when price has consumed a significant portion of expected daily range.

Note: ATR is a statistical measure; the lines represent possible ranges, not guaranteed targets. Daily market conditions may prevent price from reaching full ATR.

9月5日

發行說明

Updating to add start of day time in Eastern.