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DTR

Filtered DTR Table📊 Filtered Daily True Range (DTR) Indicator This indicator calculates and displays a filtered version of the Daily True Range (DTR) over the last 14 trading days, using high and low prices of each day. It filters out extreme values by excluding any daily range that is: Less than 0.5× the average range Greater than 2× the average range The indicator shows a table in the bottom-right corner of the main chart, containing: Filtered ATR – The average of valid (filtered) daily ranges over the past 14 days, based on the high-low difference. Current Day's Range – The high-low range of the current trading day. % of ATR – How much of the filtered ATR has been covered by today's range, expressed as a whole number percentage.
Pine Script® indicator
by otdailopatku
Filt ADR🟠 Script Name: Filtered Average Daily Range (Filt ADR) This script calculates a filtered version of the Average Daily Range (ADR) based on the last 14 daily candles. It's designed to reduce the influence of unusually high or low daily ranges (outliers) by applying a filter before calculating the average. 🔧 How It Works — Step by Step 1. Calculate Daily Ranges (High - Low) It retrieves the daily price ranges (difference between daily high and low) for the last 14 days using request.security() with the "D" (daily) timeframe. pinescript Копировать Редактировать high - low // today's daily range high - low // yesterday's daily range ... These values are stored into individual variables dr0 to dr13. 2. Build an Array of Daily Ranges An array named ranges is used to store the 14 daily ranges, but only if they are not na (missing data). This avoids errors during processing. 3. Calculate the Initial (Unfiltered) Average Range The script sums all values in the ranges array and calculates their average: pinescript Копировать Редактировать avg_all = total sum of ranges / number of valid entries 4. Filter Out Outliers Now it filters the values in ranges: Only keeps the ranges that are between 0.5×avg_all and 2×avg_all. This is to remove abnormally small or large daily ranges that could distort the average. The filtered values are added to a second array called filtered. 5. Calculate the Filtered ADR Finally, it calculates the average of the filtered daily ranges: pinescript Копировать Редактировать avg_filt = sum of filtered ranges / number of filtered values This is the Filtered ADR. 6. Plot the Result The result (avg_filt) is plotted as an orange line on the chart. It updates on each bar (depending on the current timeframe you're viewing) but the underlying data is based on the last 14 daily candles. pinescript Копировать Редактировать plot(avg_filt, title="Filtered ADR", color=color.orange, linewidth=2) ✅ Use Case This script is useful for traders who use the Average Daily Range (ADR) to: Estimate expected price movement during a day Set volatility-based stop-loss or take-profit levels Identify days with unusually high or low volatility By filtering out extreme values, it provides a more stable and reliable estimate of daily volatility.
Pine Script® indicator
by otdailopatku
Daily True Range (DTR) vs Average True Range (ATR)Overview The "DTR vs ATR with Color-Coded Percentage" indicator is a powerful volatility analysis tool designed for traders who want to understand daily price movements in the context of historical volatility. It calculates the Daily True Range (DTR)—the raw measure of a single day’s volatility—and compares it to the Average True Range (ATR), which smooths volatility over a user-defined period (default 14 days). The indicator presents this data in an intuitive table, featuring a color-coded percentage that visually represents how the current day’s move (DTR) stacks up against the average volatility (ATR). This helps traders quickly assess whether the current day’s price action is unusually volatile, average, or subdued relative to recent history. Purpose Volatility Comparison: Visualize how the current day’s price range (DTR) relates to the average range (ATR) over a specified period. Decision Support: Identify days with exceptional movement (e.g., breakouts or reversals) versus normal or quiet days, aiding in trade entry/exit decisions. Risk Management: Gauge daily volatility to adjust position sizing or stop-loss levels based on whether the market is exceeding or falling short of typical movement. Features Daily True Range (DTR) Calculation: Computes the True Range for the current day as the greatest of: Current day’s High - Low High - Previous Close Low - Previous Close Aggregates data on any timeframe to ensure accurate daily values. Average True Range (ATR): Calculates the smoothed average of DTR over a customizable period (default 14 days) using Wilder’s smoothing method. Updates in real-time as the day progresses. Timeframe Flexibility: Works on any chart timeframe (e.g., 1-minute, 1-hour) while always calculating DTR and ATR based on daily data. Color-Coded Display in either compact or table mode The percentage value is color-coded in the table based on configurable thresholds: Safe (default 75): Normal range, within typical volatility Warning: (default 75-125): Above-average volatility. Danger (default 125): Exceptionally high volatility
Pine Script® indicator
by outofoptions
ATR/DTR with Custom Percentage DisplayThis Pine Script indicator provides a detailed view of the Average True Range (ATR) and Daily True Range (DTR), along with additional calculated metrics to assist in analyzing price volatility. The key features of the indicator include: ATR Calculation: The ATR is calculated over a user-defined timeframe, allowing traders to assess average market volatility over a specific period. DTR Calculation: The DTR represents the absolute range (high - low) of the current or chosen timeframe, providing insights into the day's price movement. ATR/DTR Percentage: This metric calculates the DTR as a percentage of the ATR, showing how the daily range compares to the average range, with dynamic coloring to highlight when it exceeds a user-defined threshold. Custom Percentage of ATR: Users can input a custom percentage to calculate and display a corresponding value of the ATR. For example, entering 15% will compute and display 15% of the ATR in the indicator’s table. Dynamic Table Display: The indicator outputs all these metrics in a well-organized table that is overlaid on the chart. The table includes: ATR DTR ATR/DTR percentage The user-defined percentage of ATR Customizable Features: Color Coding: The table dynamically changes its background color when the ATR/DTR percentage exceeds a user-defined threshold. Placement Options: The table's position on the chart can be adjusted (e.g., bottom-right, top-center) for optimal visibility. Use Case: This indicator is ideal for traders who want a deeper understanding of market volatility and prefer visual representation of how current price movements compare to historical averages. It is especially useful for: Setting volatility-based stop-loss levels. Identifying high-volatility trading opportunities. Tailoring strategies around price movement patterns.
Pine Script® indicator
by maximussik17
DTR & ATR Description This ATR and DTR label is update of Existing Label provided by © ssksubam Please See Notes on original Script Here : Original Code is not mine but I have done few code changes which I believe will help everyone who are looking to add more labels together and save space on the chart ATR & DTR Script is very helpful for Day Traders as I will explain in detail bellow Following are changes I have incorporated Previous Label took more space on the charts with Header and Footer. I removed the Header and moved both DTR vs ATR descriptions on the same line, saving space on the chart. I updated the code to remove => signs, which are self-explanatory as I will explain below. I made the label in 1 single compact line for maximum space efficiency and aesthetics. These changes improve the content's clarity and conciseness while optimizing space on the charts. If you have any further requests or need additional assistance, feel free to let me know! What Does DTR Signify? Stock ATR stands for Average True Range, which is a technical indicator used in trading and investment analysis. The Average True Range measures the volatility of a stock over a given period of time. It provides insights into the price movement and potential price ranges of the stock. The ATR is calculated as the average of the true ranges over a specific number of periods. The true range is the greatest of the following three values: The difference between the current high and the current low. The absolute value of the difference between the current high and the previous close. The absolute value of the difference between the current low and the previous close. Traders and investors use ATR to assess the potential risk and reward of a stock. A higher ATR value indicates higher volatility and larger price swings, while a lower ATR value suggests lower volatility and smaller price movements. By understanding the ATR, traders can set appropriate stop-loss levels and make informed decisions about position sizing and risk management. It's important to note that the ATR is not a directional indicator like moving averages or oscillators. Instead, it provides a measure of volatility, helping traders adapt their strategies to suit the current market conditions. What Does ATR Signify? The Average True Range (ATR) signifies the level of volatility or price variability in a particular financial asset, such as a stock, currency pair, or commodity, over a specific period of time. It provides valuable information to traders and investors regarding the potential risk and reward associated with the asset. Here are the key significances of ATR: Volatility Measurement: ATR measures the average price range between high and low prices over a specified timeframe. Higher ATR values indicate greater volatility, while lower values suggest lower volatility. Traders use this information to gauge the potential price movements and adjust their strategies accordingly. Risk Assessment: A higher ATR value implies larger price swings, indicating increased market uncertainty and risk. Traders can use ATR to set appropriate stop-loss levels and manage risk by adjusting position sizes based on the current volatility. Trend Strength: ATR can also be used to assess the strength of a trend. In an uptrend or downtrend, ATR tends to increase, indicating a more powerful price movement. Conversely, a declining ATR might signify a weakening trend or a consolidation period. Range-Bound Market Identification: In a range-bound or sideways market, the ATR value tends to be relatively low, reflecting the lack of significant price movements. This information can be helpful for range-trading strategies. Volatility Breakouts: Traders often use ATR to identify potential breakouts from consolidation patterns. When the ATR value expands significantly, it may indicate the beginning of a new trend or a breakout move. Comparison between Assets: ATR allows traders to compare the volatility of different How to use DTR & ATR for Trading Using Average True Range (ATR) and Daily Trading Range (DTR) can be beneficial for day trading to assess potential price movements, manage risk, and identify trading opportunities. Here's how you can use both indicators effectively: Calculate ATR and DTR: First, calculate the ATR and DTR values for the asset you are interested in trading. ATR is the average of true ranges over a specified period (e.g., 14 days), while DTR is the difference between the high and low prices of a single trading day. Assess Volatility: Compare the ATR and DTR values to understand the current volatility of the asset. Higher values indicate increased volatility, while lower values suggest reduced volatility. Setting Stop-Loss: Use ATR to set appropriate stop-loss levels. For example, you might decide to set your stop-loss a certain number of ATR points away from your entry point. This approach allows you to factor in market volatility when determining your risk tolerance. Identify Trading Range: Analyze DTR to determine the typical daily price range of the asset. This information can help you identify potential support and resistance levels, which are essential for day trading strategies such as breakout or range trading. Breakout Strategies: ATR can assist in identifying potential breakout opportunities. When ATR values increase significantly, it suggests an expansion in volatility, which may indicate an upcoming breakout from a trading range. Look for breakouts above resistance or below support levels with higher than usual ATR values. Scalping Strategies: For scalping strategies, where traders aim to profit from small price movements within a single trading session, knowing the typical DTR can help set reasonable profit targets and stop-loss levels. Confirming Trend Strength: In day trading, you may encounter short-term trends. Use ATR to assess the strength of these trends. If the ATR is rising, it suggests a strong trend, while a declining ATR may indicate a weakening trend or potential reversal. Risk Management: Both ATR and DTR can aid in risk management. Determine your position size based on the current ATR value to align it with your risk tolerance. Additionally, understanding the DTR can help you avoid overtrading during periods of low volatility. Combine with Other Indicators: ATR and DTR work well when used in conjunction with other technical indicators like moving averages, Bollinger Bands, or RSI. Combining multiple indicators can provide a mor
Pine Script® indicator
by ripster47
10
ATR PivotsThe "ATR Pivots" script is a technical analysis tool designed to help traders identify key levels of support and resistance on a chart. The indicator uses various metrics such as the Average True Range (ATR), Daily True Range ( DTR ), Daily True Range Percentage (DTR%), Average Daily Range (ADR), Previous Day High ( PDH ), and Previous Day Low ( PDL ) to provide a comprehensive picture of the volatility and movement of a security. The script also includes an EMA cloud and 200 EMA for trend identification and a 1-minute ATR scalping strategy for traders to make informed trading decisions. ATR Detail:- The ATR is a measure of the volatility of a security over a given period of time. It is calculated by taking the average of the true range (the difference between the high and low of a security) over a set number of periods. The user can input the number of periods (ATR length) to be used for the ATR calculation. The script also allows the user to choose whether to use the current close or not for the calculation. The script calculates various levels of support and resistance based on the relationship between the security's range ( high-low ) and the ATR. The levels are calculated by multiplying the ATR by different Fibonacci ratios (0.236, 0.382, 0.5, 0.618, 0.786, 1.000) and then adding or subtracting the result from the previous close. The script plots these levels on the chart, with the -100 level being the most significant level. The user also has an option to choose whether to plot all Fibonacci levels or not. DTR and DTR% Detail:- The Daily True Range Percentage (DTR%) is a metric that measures the daily volatility of a security as a percentage of its previous close. It is calculated by dividing the Daily True Range ( DTR ) by the previous close. DTR is the range between the current period's high and low and gives a measure of the volatility of the security on a daily basis. DTR% can be used as an indicator of the percentage of movement of the security on a daily basis. In this script, DTR% is used in combination with other metrics such as the Average True Range (ATR) and Fibonacci ratios to calculate key levels of support and resistance for the security. The idea behind using DTR% is that it can help traders to better understand the daily volatility of the security and make more informed trading decisions. For example, if a security has a DTR% of 2%, it suggests that the security has a relatively low level of volatility and is less likely to experience significant price movements on a daily basis. On the other hand, if a security has a DTR% of 10%, it suggests that the security has a relatively high level of volatility and is more likely to experience significant price movements on a daily basis. ADR:- The script then calculates the ADR (Average Daily Range) which is the average of the daily range of the security, using the formula (Period High - Period Low) / ATR Length. This gives a measure of the average volatility of the security on a daily basis, which can be useful for determining potential levels of support and resistance . PDH /PDL:- The script also calculates PDH (Previous Day High) and PDL (Previous Day Low) which are the High and low of the previous day of the security. This gives a measure of the previous day's volatility and movement, which can be useful for determining potential levels of support and resistance . EMA Cloud and 200 EMA Detail:- The EMA cloud is a technical analysis tool that helps traders identify the trend of the market by comparing two different exponential moving averages (EMAs) of different lengths. The cloud is created by plotting the fast EMA and the slow EMA on the chart and filling the space between them. The user can input the length of the fast and slow EMA , and the script will calculate and plot these EMAs on the chart. The space between the two EMAs is then filled with a color that represents the trend, with green indicating a bullish trend and red indicating a bearish trend . Additionally, the script also plots a 200 EMA , which is a commonly used long-term trend indicator. When the fast EMA is above the slow EMA and the 200 EMA , it is considered a bullish signal, indicating an uptrend. When the fast EMA is below the slow EMA and the 200 EMA , it is considered a bearish signal, indicating a downtrend. The EMA cloud and 200 EMA can be used together to help traders identify the overall trend of the market and make more informed trading decisions. 1 Minute ATR Scalping Strategy:- The script also includes a 1-minute ATR scalping strategy that can be used by traders looking for quick profits in the market. The strategy involves using the ATR levels calculated by the script as well as the EMA cloud and 200 EMA to identify potential buy and sell opportunities. For example, if the 1-minute ATR is above 11 in NIFTY and the EMA cloud is bullish , the strategy suggests buying the security. Similarly, if the 1-minute ATR is above 30 in BANKNIFTY and the EMA cloud is bullish , the strategy suggests buying the security. Inside Candle:- The Inside Candle is a price action pattern that occurs when the current candle's high and low are entirely within the range of the previous candle's high and low. This pattern indicates indecision or consolidation in the market and can be a potential sign of a trend reversal. When used in the 15-minute chart, traders can look for Inside Candle patterns that occur at key levels of support or resistance. If the Inside Candle pattern occurs at a key level and the price subsequently breaks out of the range of the Inside Candle, it can be a signal to enter a trade in the direction of the breakout. Traders can also use the Inside Candle pattern to trade in a tight range, or to reduce their exposure to a current trend. Risk Management:- As with any trading strategy, it is important to practice proper risk management when using the ATR Pivots script and the 1-minute ATR scalping strategy. This may include setting stop-loss orders, using appropriate position sizing, and diversifying your portfolio. It is also important to note that past performance is not indicative of future results and that the script and strategy provided are for educational purposes only. In conclusion, the "ATR Pivots" script is a powerful tool that can help traders identify key levels of support and resistance , as well as trend direction. The additional metrics such as DTR , DTR%, ADR, PDH , and PDL provide a more comprehensive picture of the volatility and movement of the security, making it easier for traders to make better trading decisions. The inclusion of the EMA cloud and 200 EMA for trend identification, and the 1-minute ATR scalping strategy for quick profits can further enhance a trader's decision-making process. However, it is important to practice proper risk management and understand that past performance is not indicative of future results. Special thanks to satymahajan for the idea of clubbing Average True Range with Fibonacci levels.
Pine Script® indicator
by tradeblinks
1
ATR vs Day Trading Range and PercentageThis indicator displays the Current Daily ATR vs the current Day Range and displays the percentage. For example if the Daily ATR is $5 and the current range of the day is $10 this would be 200% the original move. It is color coded (and can be modified) to change color when the Daily range is over 100% the ATR. The time frame can be changed from Daily just be aware you must be on a lower timeframe then selected. So if you want to compare the current 30 minute ATR to the current 30 minute range you will need to be showing a 30 min chart or lower for it to calculate correctly.
Pine Script® indicator
by TraderCreatorPro
2