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Right. The Equis ATR(period) matches Wilder's original version and the TR
isn't a builtin.
ATR(1) is actually the TR so taking its ma will give SMA or EMA versions
of ATR -- Chande uses the SMA for stops.
Bob
-----Original Message-----
From: owner-metastock@xxxxxxxxxxxxx
[mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Mike Campbell
Sent: Thursday, July 13, 2000 2:18 PM
To: metastock@xxxxxxxxxxxxx
Subject: Re: atr
Al Taglavore writes:
> Neither. As Welles Wilder developed it, a moving average was not used.
> MetaStock has it programmed. Simply pull up the indicator and type in the
> number of days. Today's ATR is the distance from today's low to today's
> high OR from yesterdays close to today's high.....whichever is greater.
> This accounts for any gaps from the previous close to the low of the
> current day.
I believe you are mistaken there. What you described is the "true
range" calcuation. ATR is some moving average of THOSE values.
Otherwise, what would the "number of days" have to do with it?
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