NinjaTrader True Range and Average True Range Indicator

Posted by TazaTek on Jun 29th, 2008 in Free Indicators | 98 comments
NinjaTrader True Range and Average True Range Indicator

Summary


These are Welles Wilders True Range and Average True Range indicators, and are used as functions in many, many indicators out there. In fact, I needed the True Range indicator separate from the Average True Range indicator and so I created them separately. One thing to notice is that TazaTeks version of the ATR is a little bit smoother than the NinjaTrader version of the ATR

Screen Shots

Usage


The Average True Range indicator can be used all on its own as a volatility indicator. Periods of low volatility, defined by low values of the ATR, are often times followed by very large price moves. As with most volatility indicators, the ATR won’t tell you which direction the movement will be, only that there will be one. Average True Range and Bollinger Bands are often described together, because they both describe impending price moves. The ATR should always be used with a directional indicator, such as Williams %R or RSI, in conjunction with the Average True Range indicators.

Downloads

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Happy Trading!

  1. View all posts by TazaTek
    TazaTeks website
    About TazaTek
    TazaTek is a leading provider of indicators and strategies for all major trading platforms, including NinjaTrader, TradeStation, eSignal, MetaTrader, MetaStocks and more.

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