ATR with SMMA

[Alexey.Pechurin]

In MT4 and Trading Station, ATR uses a simple MA of the true ranges.

But there is another approach: a Wikipedia article (http://en.wikipedia.org/wiki/Average_true_range) contains a formula with SMMA of the true ranges.

The attached indicator uses the following method.

Compare the look of the standard ATR and ATR with SMMA on the snapshot below.

ATRSMMA.lua

(2.89 KiB) Downloaded 615 times

The indicator was revised and updated

[Apprentice]

Why stop at SMMA.
This version will privide up to eight True Range smoothing method.
True Range and Smoothing period may vary.

AverageTrueRange.lua

(3.66 KiB) Downloaded 691 times

[Apprentice]

The indicator was revised and updated.