Average True Range (ATR)
Chat moderator and trader Boom breaks down what Average True Range (ATR) is and how to add it to your charts in TD Ameritrade's Thinkorswim. Find the ATR code below the video.
Don’t forget to click “Setup” and then “Save Workspace” after you’ve added the code so that once you exit Think or Swim you don’t have to reload the code!
Average True Range code snippet:
addlabel(yes,"AVG TRUE RANGE: "+ (average(high(period="day"),14)-average(low(period="day"),14)), color.white);
BONUS! Add a daily volume label to your charts with the code below! You can add the code the exact same way you would add the ATR code in the video!
Volume code snippet: addlabel(yes,"Volume: "+ volume(period=”day”));