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  • True Range by Talha

    Uploaded by

    Khairia Shujat Hussain
    26 views2 pages
    This Pine script defines functions to calculate the Average True Range (ATR) over a user-specified period for a security. It then plots daily ATR high, low, and support/resistance levels calculated as percentages of the ATR range. Specifically: 1) It takes the ATR period length as user input. 2) Calculates daily ATR values using a weighted moving average formula. 3) Defines daily ATR high, low, and support/resistance levels at 0%, 23.6%, 38.2%, 50%, 61.8%, and 78.6% of the ATR range. 4) Plots these levels on the chart colored according to whether the value has changed from

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    This Pine script defines functions to calculate the Average True Range (ATR) over a user-specified period for a security. It then plots daily ATR high, low, and support/resistance levels calculated as percentages of the ATR range. Specifically: 1) It takes the ATR period length as user input. 2) Calculates daily ATR values using a weighted moving average formula. 3) Defines daily ATR high, low, and support/resistance levels at 0%, 23.6%, 38.2%, 50%, 61.8%, and 78.6% of the ATR range. 4) Plots these levels on the chart colored according to whether the value has changed from

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    © All Rights Reserved
    Download as TXT, PDF, TXT or read online from Scribd
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    26 views2 pages

    True Range by Talha

    Uploaded by

    Khairia Shujat Hussain
    This Pine script defines functions to calculate the Average True Range (ATR) over a user-specified period for a security. It then plots daily ATR high, low, and support/resistance levels calculated as percentages of the ATR range. Specifically: 1) It takes the ATR period length as user input. 2) Calculates daily ATR values using a weighted moving average formula. 3) Defines daily ATR high, low, and support/resistance levels at 0%, 23.6%, 38.2%, 50%, 61.8%, and 78.6% of the ATR range. 4) Plots these levels on the chart colored according to whether the value has changed from

    Copyright:

    © All Rights Reserved
    Download as TXT, PDF, TXT or read online from Scribd
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    of 2

    // This source code is subject to the terms of the Mozilla Public License 2.

    0 at
    https://mozilla.org/MPL/2.0/
    //Creator: Mohammad Talha.
    //@version=4

    study(title="Daily", shorttitle="RBTSD01-TS", overlay=true)

    //******************LOGICS**************************
    ATR_Length = input(14, type=input.integer, minval=0, maxval=100, title="Periods")
    //Checkbox inputs

    //Daily input
    Dayhigh = security(syminfo.tickerid, 'D', high, lookahead=barmerge.lookahead_off)
    Daylow = security(syminfo.tickerid, 'D', low, lookahead=barmerge.lookahead_off)
    Dayclose = security(syminfo.tickerid, 'D', close, lookahead=barmerge.lookahead_off)

    //Function
    pine_rma(x, y) =>
    alpha = y
    sum = 0.0
    sum := (x + (alpha - 1) * nz(sum[1])) / alpha
    sum

    pine_atrDay(length) =>
    trueRange = max(max(Dayhigh - Daylow, abs(Dayhigh - Dayclose[1])), abs(Daylow -
    Dayclose[1]))
    pine_rma(trueRange, length)

    DAYATR = security(syminfo.tickerid, 'D',pine_atrDay(ATR_Length) ,


    barmerge.gaps_off, barmerge.lookahead_on)

    // Talha

    ATRHI = Dayclose + DAYATR


    ATRLO = Dayclose - DAYATR
    TS = ATRHI - ATRLO
    Line6 = ATRHI-(TS*0.786)
    Line5 = ATRHI-(TS*0.618)
    Line4 = ATRHI-(TS*0.5)
    Line3 = ATRHI-(TS*0.382)
    Line2 = ATRHI-(TS*0.236)

    //******************DAYWISE ATR**************************
    // Getting daywise CPR
    DAYATRHI = security(syminfo.tickerid, "D", ATRHI[1], barmerge.gaps_off,
    barmerge.lookahead_on)
    DLine2 = security(syminfo.tickerid, "D", Line2[1], barmerge.gaps_off,
    barmerge.lookahead_on)
    DLine3 = security(syminfo.tickerid, "D", Line3[1], barmerge.gaps_off,
    barmerge.lookahead_on)
    DLine4 = security(syminfo.tickerid, "D", Line4[1], barmerge.gaps_off,
    barmerge.lookahead_on)
    DLine5 = security(syminfo.tickerid, "D", Line5[1], barmerge.gaps_off,
    barmerge.lookahead_on)
    DLine6 = security(syminfo.tickerid, "D", Line6[1], barmerge.gaps_off,
    barmerge.lookahead_on)
    DAYATRLO = security(syminfo.tickerid, "D", ATRLO[1], barmerge.gaps_off,
    barmerge.lookahead_on)

    //Plotting daywise ATR


    plot(DAYATRHI, title = "DR 00" , color = DAYATRHI!= DAYATRHI[1] ? na : color.gray,
    style = plot.style_linebr, linewidth =1)
    plot(DLine2, title = "DR 23" , color = DLine2!= DLine2[1] ? na : color.purple,
    style = plot.style_linebr, linewidth =2)
    plot(DLine3, title = "DR 38" , color = DLine3!= DLine3[1] ? na : color.fuchsia,
    style = plot.style_linebr, linewidth =1)
    plot(DLine4, title = "DAY 50" , color = DLine4!= DLine4[1] ? na : color.aqua,
    style = plot.style_linebr, linewidth =1)
    plot(DLine5, title = "DS 61%" , color = DLine5!= DLine5[1] ? na : color.teal, style
    = plot.style_linebr, linewidth =1)
    plot(DLine6, title = "DS 78%" , color = DLine6!= DLine6[1] ? na : color.green,
    style = plot.style_linebr, linewidth =2)
    plot(DAYATRLO, title = "DS LOW" , color = DAYATRLO!= DAYATRLO[1] ? na : color.gray,
    style = plot.style_linebr, linewidth =1)

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