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Technical Studies Reference


Normalized Average True Range


Description

This study calculates and displays a normalized version of the Average True Range. See that study for an explanation of the notation used here.

We denote the Normalized Average True Range at Index \(t\) as \(ATR^{(Norm)}_t\), and we compute it for \(t \geq n - 1\) as follows.

\(\displaystyle{ATR^{(Norm)}_t(n) = \frac{100\space ATR_t(n)}{C_t}}\)

This study only functions properly on a Historical Daily chart. A Historical Daily chart can be opened with File >> Find Symbol >> [select symbol] >> Open Historical Chart.

Once you add this study to a Historical Daily chart, the study can be overlaid to an Intraday chart by using the Study/Price Overlay study.

Inputs

Spreadsheet

The spreadsheet below contains the formulas for this study in Spreadsheet format. Save this Spreadsheet to the Data Files Folder.

Open it through File >> Open Spreadsheet.

Average_True_Range_-_Normalized.428.scss


*Last modified Sunday, 29th January, 2023.