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ATR Levels

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136
APeng 2012.02.24 09:59
 

I have some questions about ATR Levels indicator. It draws four lines: ATR(t) res, ATR(y) res, ATR(t) sup, ATR(y) sup.

1) What is the difference beetween (t) and (y) ? today, yesterday???

2) res and sup are resistance and support. If I chose e.g. 10 for the period the indicator calculates the average true range of the last 10 periods and then it draws the resistance and support lines into the chart. Let us say the ATR is 50 Pips. Related to what point are resistance and support drawn? Related to the day´s opening price?

Thanks in advance for any comments :-)

 
GOLD Mid Week Update: Ranging With 1238.25 Key Resistance
D1 price is on primary bullish market condition with secondary ranging: The price is inside Ichimoku cloud/kumo above Sinkou Span A line which is indicating the ranging market condition within the primary bullish Nearest support level is 1183.66 Nearest resistance level is 1232.72 W1 price is on bearish market condition with triangle pattern crossing by the price on open bar from below to above.
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3097
qjol 2012.02.24 11:56 #
 
read the code
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136
APeng 2012.02.24 15:57 #
 
qjol:
read the code

OMG - some answers should better be skipped. I read the code and the questions I have after reading it are posted above.

Really qjol - just don´t answer if your are not willing to help!

 
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Ickyrus 2012.02.24 16:19 #
 

As best as I can work out (indicator code is not yet mastered by me) The blue and red lines of the ATR indicator are being translated as lines to the chart for two time frames one timeframe is half of the current timeframe.

 
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WHRoeder 2012.02.24 16:46 #
 
APeng:

I have some questions about ATR Levels indicator. It draws four lines: ATR(t) res, ATR(y) res, ATR(t) sup, ATR(y) sup.

I read the code and the questions I have after reading it are posted above.
You must read and understand the code. You must think. Follow the highlights: red=red, blue=blue, green=your question.
ArrayCopyRates(rates_d1, Symbol(), PERIOD_D1);
fullatr = iATR(Symbol(), PERIOD_D1, ATRPeriod, 1);
L4 = rates_d1[1][3] - fullatr;       // yesterday's High -ADR
H4 = rates_d1[1][2] + fullatr;       // yesterday's low  +ADR
L4t = rates_d1[0][3] - fullatr;      // today's high     -ADR
H4t = rates_d1[0][2] + fullatr;      // today's low      +ADR

ObjectCreate("H4atr label", OBJ_TEXT, 0, Time[0] + timeshift, H4);
ObjectSetText("H4atr label", "ATR(y) res: " + DoubleToStr(H4,4), 8, 

ObjectCreate("L4atr label", OBJ_TEXT, 0, Time[0] + timeshift, L4);
ObjectSetText("L4atr label", "ATR(y) sup: " + DoubleToStr(L4,4), 8, 

ObjectCreate("H4tatr label", OBJ_TEXT, 0, Time[0] + timeshift, H4t);
ObjectSetText("H4tatr label", "ATR(t) res: " + DoubleToStr(H4t,4), 8, 

ObjectCreate("L4tatr label", OBJ_TEXT, 0, Time[0] + timeshift, L4t);
ObjectSetText("L4tatr label", "ATR(t) sup: " + DoubleToStr(L4t,4), 8, 
  1. ATR(t) res, today's low + Average Daily Range (ADR)
  2. ATR(y) res, yestdays's low + ADR
  3. ATR(t) sup, Todays high - ADR
  4. ATR(y) sup. Todays low + ADR
 
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APeng 2012.02.25 18:03 #
 
WHRoeder:
You must read and understand the code. You must think. Follow the highlights: red=red, blue=blue, green=your question.
  1. ATR(t) res, today's low + Average Daily Range (ADR)
  2. ATR(y) res, yestdays's low + ADR
  3. ATR(t) sup, Todays high - ADR
  4. ATR(y) sup. Todays low + ADR

Thank you very much WHRoeder, I got it now (as you made it really simple ;) ) !
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