ATR => (Average Weekly Range)

Trading Systems Expert Advisors and Automated Trading
1

Hello!!,

I hope this is the right place to ask.

I would like to apply to my charts some sort of Average Weekly Range indicator, from what I read we need to use the Average True Range, but, excuse my ignorance,

How can I program the ATR or evena new indicator so that it shows Average Weekly Range starting from the opening price on Sunday???

Thanks for your help=)

2

Go to “Parameters” and set the period at “1” and “none” for color. It will then show in the left corner how far the current week has traveled.

I set-up three ATRs on some of my templates. The 1st set at 1 period, 2nd at 8, and 3rd at 20. I use the 8 period for the weekly target and the 20 for the daily.


3

Thank you!!

I think I understand that if you want to calculate the current period you put 1, and if you want to calculate the average you put more than 1, and would have to look at the weekly chart to calculate this on a weekly basis, no?

Appreciate it,
Is the actual indicator line much use? I think I agree with you that it’s almost more useful to just consider the values themselves. hm

4

Yes, I think you got it all correct. :wink: