Change Over True Range

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