sl for pro traders

4 dni temu

This script calculates the Average True Range (ATR) of a financial instrument, which measures market volatility. The ATR value is smoothed using one of four moving average methods chosen by the user: RMA (default), SMA, EMA, or WMA. Here's a breakdown of the functionality:

Inputs:

Length: Determines the period over which the ATR is calculated (default is 14).
Smoothing: Allows the user to select the smoothing method for the ATR from options like RMA, SMA, EMA, or WMA.
Smoothing Logic:

A function ma_function is defined to apply the selected smoothing method (RMA, SMA, EMA, or WMA) to the true range (ta.tr(true)) over the specified length.
Dividing the ATR by 2:

The calculated ATR is divided by 2 before being displayed. This adjustment ensures that if the original ATR value is 10, the script will now output 5.
Plot:

The modified ATR value (original ATR divided by 2) is displayed on a separate panel as a line chart, using a red color (#B71C1C).
Purpose of Update: The division by 2 scales down the ATR values for specific use cases where such an adjustment is desired. This could be for custom strategies or better alignment with other indicators.

4 dni temu

Informacje o Wersji

This script calculates the **Average True Range (ATR)** of a financial instrument, which measures market volatility. The ATR value is smoothed using one of four moving average methods chosen by the user: **RMA (default), SMA, EMA, or WMA**. Here's a breakdown of the functionality:

1. **Inputs:**
- `Length`: Determines the period over which the ATR is calculated (default is 14).
- `Smoothing`: Allows the user to select the smoothing method for the ATR from options like **RMA, SMA, EMA, or WMA**.

2. **Smoothing Logic:**
- A function `ma_function` is defined to apply the selected smoothing method (`RMA`, `SMA`, `EMA`, or `WMA`) to the true range (`ta.tr(true)`) over the specified length.

3. **Dividing the ATR by 2:**
- The calculated ATR is divided by 2 before being displayed. This adjustment ensures that if the original ATR value is 10, the script will now output 5.

4. **Plot:**
- The modified ATR value (original ATR divided by 2) is displayed on a separate panel as a line chart, using a red color (`#B71C1C`).

**Purpose of Update:**
The division by 2 scales down the ATR values for specific use cases where such an adjustment is desired. This could be for custom strategies or better alignment with other indicators.