AVERAGE TRUE RANGE - ATR
It was introduced in Welles Wilder’s book: New Concepts in Technical Trading Systems as a volatility measure.
An indicator of true range is greatest of the following:
- The absolute value of the previous close deducted from the current high.
- The absolute value of the previous close deducted from the current low.
- Current low deducted from the current high.
It is a moving average, commonly 14-days, of the true ranges.
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