OPEN-SOURCE SCRIPT
已更新

Bar Range vs ATR Overlay

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This script shows each bars range as well as the ATR with significantly large or small bars highlighted. I use this in conjunction with a 2 period ADX (also shown) to find periods of low volatility from which price may break out of. The eggplants were added to the chart (they are not part of the script) to show what that looks like. The pepper shows where a there was another significant event that the combination of these indicators points out- A large bar that made a new high and a new low. This is a good sign of a reversal. Since multiple bars may make up a good signal, it's best to check higher time frames for confluence. I also like to look at a combination of moving averages and higher period ADX (not shown as to keep chart clean) to verify trend direction and will pass on a signal given by these indicators if the trend indicators give "mixed signals".
版本注释
Added the actual ratio for reference.

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