Average True Range Within % of 52 week Low

Optuma Forums Optuma Scripting Average True Range Within % of 52 week Low

This topic contains 4 replies, has 3 voices, and was last updated by Darren Darren 2 weeks, 4 days ago.

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  • #53885
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    Tonia
    • Topics: 4
    • Replies: 4
    • Posts: 8

    Hi Guys

    Could someone please help me create a script that will show the average true range when it is within 5% of its 52 week low and has occurred in the last two days. I understand how to apply these variables to the price chart, but I have no idea how to apply them to an indicator below the chart.

    #53901
    Matthew
    Matthew
    • Topics: 4
    • Replies: 165
    • Posts: 169

    Hi Tonia,

    Reading your post i wasn’t sure if you meant when the chart was within its 52 week low or the ATR value was at it’s 52 week low, so below is both scripts…

    The following script will display the ATR value when the charts low is within 5% of the 52 week low value…

    The result in a Show View looks like this:

    Ex6

    Green Line = 52 Week Low, Blue line = 5% range, Black Line = ATR value when criteria is met (otherwise returns 0).

    If you were wanting to use the 52 week low of the ATR value itself, the script would be:

    The result would look like this:

    Ex7

    Red Line = ATR, Green Line = ATR 52 Week Low, Blue Line = 5% Range of ATR 52 Week Low, Black Line = ATR Value when criteria is met

    The only part i was unsure on was with regards to the “Within the last 2 days”. If the above scripts aren’t what you’re after please provide more details and include some screen shot examples of the setups you’re trying to identify.

    #53911
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    Tonia
    • Topics: 4
    • Replies: 4
    • Posts: 8

    Hi Matthew, apologies for being ambiguous in my request. It is great that you have sent me both, I should have been clearer. I was looking for ATR 6 month low values occurring within the last two days, highlighting extremely low volatility opportunities.

    #53913
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    Tonia
    • Topics: 4
    • Replies: 4
    • Posts: 8

    Sorry I meant 52 week ATR low

    #53915
    Darren
    Darren
    • Topics: 37
    • Replies: 238
    • Posts: 275

    Hi Tonia,

    Try this:

    Here are the ASX200 true results for Tuesday:

    Capture

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