Lucra® by Mindie Kniss and Sean Stephenson
Success coaching for entrepreneurs and traders, plus online courses on coach training and professional speaker training.
Lucra® by Mindie Kniss and Sean Stephenson
Success coaching for entrepreneurs and traders, plus online courses on coach training and professional speaker training.
Hello ,I understand the premise of ATR in relation to the range. And how it is helpful to see both. I have TOS. I can see the range displayed by highlighting on each candle. But for the life of me. I can’t figure how you see the range that has occurred up to that moment in time. So as to compare it to the ATR. I guess just old and limited computer knowledge…Haha
Thank you
Hey Tony! Maybe TOS just has it hiding somewhere…
You already know more about it on TOS than I do so I will be of no help. 😂
For Tony C. Just got to this and if I read your comment correctly, you are OK with finding a range of one candle, but not the last several . If that is the case, in TOS, open a chart. At the top of the chart above the price action, on the right side as I look at the chart, there are icons –a cogwheel, a beaker, a few more. On my TOS, the last two choices on that line are studies and Patterns. Click on “studies”. On the drop down list, click on “edit studies”. It opens a window with “studies, strategies, sets”. Mine opens with “studies” highlighted. Make sure your list has the studies section highlighted as well. The 7th choice on that list is “ATR”, so click on that and it will put it on your lower studies section. Default is 14, which in TOS means it averages the last 14 time periods. For our purpose here, I think the “D” chart , or daily, ATR is the one that would be most relevant. ( But if you have it on a 5 minute chart, it will give you ATR of the last 14 candles, 5 minutes each.) After you add it to your chart, you have to choose “apply” and” OK” in the bottom right and then it will show up on your chart. I hope that helps, and if I misread your comment I apologize.
Thanks Mary! I think he was asking about finding the current range of the day vs the Average True Range — but I’m not a TOSer so you all know way more about it than I do. 😉
+sorry Im so hardheaded. Im confuse about the ATR so it doesnt matters if the trend goes up or down the ATR is going to show right now the movement of the trend for the last 14 days?
No worries, Mariano. You’re on the right track. It doesn’t have anything to do with the direction of the trend. If the Dow goes up from 31,800 to 31,900 or down from 31,900 to 31,800, it’s still a 100-point move either way. The ATR is simply averaging how much it moves — regardless of which way it’s moving.