Change Over True Range

Owned by Chris Harrison
Last updated: Aug 19, 2022 by Brendan Hebert (Unlicensed)
1 min read

Change Over True Range is a custom volatility indicator that divides each bar's net change by either the Average True Range (ATR) or the Average True Range Adjusted (ATRADJ). Average True Range Adjusted is a modified version of the ATR study, where it only uses the closing prices. ​

Default Parameters:

  • Period: The number of bars used to calculate the moving average (Default = 14)

  • Smoothing: The type of moving average used to calculate the Average True Range. Options are

    • SMA: Wilder's (Smoothed) Average (DEFAULT)

    • MA: Simple Moving Average

    • EMA: Exponential Moving Average

    • WMA: Weighted Moving Average

  • TypeOfATR: Identifies which type of Average True Range to use. Options are

    • ATR: Average True Range (DEFAULT)

    • ATRADJ: Adjusted Average True Range