ATR_Normalize - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Larry Williams' Normalized True Range. Calculation formula:
ATR_Normalize=100 * MovingAvg (Close Price - Low, Fast Period) / (MovingAvg (True Range, Slow Period)
This shows that when prices reach their highest point and when they hit their lowest point can be clearly and unambiguously defined.
When the indicator is in high territory, it usually indicates a decline in the security's price, while when the indicator is in a lower territory, it usually indicates an increase in price.
The indicator uses the SmoothAlgorithms.mqh library class (must be copied to the terminal data folder \MQL5\include). The use of the class "Average price series for intermediate calculations without using additional buffers" is described in detail in the article.
The original indicator was developed in MQL4 language and published in the code base on January 13, 2013.
Figure 1. ATR_Normalize indicator
Attachment download
📎 ATR_Normalize.mq5 (8.36 KB)
📎 smoothalgorithms.mqh (134.03 KB)
Source: MQL5 #11336
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