OPEN-SOURCE SCRIPT
ATR Log
This ATR represent price movement in percentage term in logarithimic scale.
Example - A stock was 100 USD 5 years back. it moved 3 USD on a certain day during that period. ATR of that stock on that day was 3%. Today that stock moved 3 USD but the value of that stock is 300 USD. ATR of that stock today is 1%.
If we plot this ATR, we can see how stock price movement expanded or compressed over a period of time. It gives a edge over normal ATR to judge historical dryness or fluidity in price movement
Example - A stock was 100 USD 5 years back. it moved 3 USD on a certain day during that period. ATR of that stock on that day was 3%. Today that stock moved 3 USD but the value of that stock is 300 USD. ATR of that stock today is 1%.
If we plot this ATR, we can see how stock price movement expanded or compressed over a period of time. It gives a edge over normal ATR to judge historical dryness or fluidity in price movement
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.