Im trying to draw a line on a 5min chart based on the following 5 day ATR calculation .. any help is greatly appreciated ..
5DayATR= the greater of :
1. avg range (high-low) of last 5 days (not incl. today)
2. avg of (close - hi) of last 5 days
3. Avg of (close - low) of last 5 days
i want to draw 2 lines at the ATR above the price and 2 lines below the price ... so if "5dayATR" comes out to 2 and stock is @ 10 then draw 1 line @ 12 & 1 @ 14 for above + 1 line @ 8 and 1 @ 6 below ..for a total of 4 horizontal lines .. thanks very much in advance..
5DayATR= the greater of :
1. avg range (high-low) of last 5 days (not incl. today)
2. avg of (close - hi) of last 5 days
3. Avg of (close - low) of last 5 days
i want to draw 2 lines at the ATR above the price and 2 lines below the price ... so if "5dayATR" comes out to 2 and stock is @ 10 then draw 1 line @ 12 & 1 @ 14 for above + 1 line @ 8 and 1 @ 6 below ..for a total of 4 horizontal lines .. thanks very much in advance..
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