PipTick ATR

PipTick ATR indicator is really helpful tool for measuring of range of bars (Average True Range). It helps simply and quickly evaluate the current spread (range) of the ATR, which is especially useful for VSA traders. The indicator for the classification of the range of bars (candles) uses moving average and its multiples. Accordingly, where the ATR bar is located (relative to the moving average), it is labeled as ultra low, low, average, high, very high or ultra high. PipTick ATR indicator is rendered as a histogram.

This indicator can calculate moving average by four methods:

SMA - Simple Moving Average
SMMA - Smoothed Moving Average
EMA - Exponential Moving Average
LWMA - Linear Weighted Moving Average

Interpretation of the indicator

By default, there are six zones which can be changed by user. Depending on which zone corresponds to the ATR, the bar of histogram is colored by appropriate color. This way you can easily recognize how high the ATR (spread/range) is, in comparison with the previous bars.

Ultra ATR zone - Gray
Low ATR zone - White
Average ATR zone - Aqua
High ATR zone - DeepSkyBlue
Very High ATR zone - RoyalBlue
Ultra High ATR zone - Blue

Main features

Simple classification of range of bars
Several optional calculation methods
User selectable ranges of the zones
Works on every timeframe (M1, M5, M15, M30, H1, H4, D1, W1, MN)
Very fast and reliable indicator
Customizable parameters (Colors, Line thickness, MA period...)

Input parameters

MA_Method - Allows to choose between SMA, SMMA, LWMA and EMA
MA_Period - Period of MA calculation
ATR_Period - Period of ATR calculation
Line_Thickness - Thickness of output line
Histogram_Thickness - Thickness of output histogram
Low_Coefficient - Coefficient for determination low zone
Average_Coefficient - Coefficient for determination average zone
High_Coefficient - Coefficient for determination high zone
Very_High_Coefficient - Coefficient for determination very high zone
Ultra_High_Coefficient - Coefficient for determination ultra high zone
Color_Text - Color of indicator text
Color_MA_Line - Color of MA line
Color_Ultra_Low - Color of ultra low histogram
Color_Low - Color of low histogram
Color_Average - Color of average histogram
Color_High - Color of high histogram
Color_Very_High - Color of very high histogram
Color_Ultra_High - Color of ultra high histogram

Outputs parameters

Average ATR - Displays value of average ATR by period
ATR - Displays values of ATR
Type - Displays number of zone type. 1 - 6 according the zone. Number 1 means ultra low, 6 means ultra high
Low - Displays values of low zone. Otherwise value equals zero
Average - Displays values of average zone. Otherwise value equals zero
High - Displays values of high zone. Otherwise value equals zero
Very High - Displays values of very high zone. Otherwise value equals zero
Ultra High - Displays values of ultra high zone. Otherwise value equals zero