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ATR of Daily on 5min chart

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  • ATR of Daily on 5min chart

    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..

  • #2
    Have a look at eSignal's EFS consultant Divergence Software. They may very well have something that does what you are looking for. In one of their pivot point studies they have an ATR function that might very well fit the bill.

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