BullScript: ATR

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ATR

Printed From: BullCharts Forum
Category: BullCharts
Forum Name: BullScript
Forum Discription: Technical discussion related specifically to the BullScript programming language.
URL: http://www.bullcharts.com.au/forum/forum_posts.asp?TID=65
Printed Date: 20 May 2024 at 5:41am
Software Version: Web Wiz Forums 9.69 - http://www.webwizforums.com

Topic: ATR

Posted By: southerncross
Subject: ATR
Date Posted: 05 Dec 2004 at 8:11pm

I would like to scan for stocks which over the previous 10 days have an ATR of over 20. I'm having difficulty creating a scan to do this,can anyone help?

Replies:

Posted By: Peter
Date Posted: 06 Dec 2004 at 3:45pm

Create a new scan
Add a new criteria
In the first value box, set it up so that it's "Is an Indicator" "Average True Range".
In the condition box, set it to "Is Greater Than", and change the next dropdown box to "Any" bar in the last "10" bars. (or use Every, if that's what you're after).
In the second value box, set it up so that it's "Is a number" "20"
Press OK
Press Apply and Run

Posted By: southerncross
Date Posted: 07 Dec 2004 at 6:26pm

I realise this is a Bullscan topic but as I started here I'll continue.

Thanks Peter for the above advice. However I get no results with it which seems rather odd as I have changed the ATR to as low as 5 and still nothing.

Surely there are stocks out there trading with an ATR of 5 in the past 10 days!

Also where do I find the Bullscript editer as I want to try a metastock formula for a different scan?

Posted By: Peter
Date Posted: 08 Dec 2004 at 10:03am

Seems not. I just did a scan that shows the highest ATR of every company over the last 100 days and the highest was PPT with only 1.061! I'm a bit surprised.. but the ASX ain't a big market.

Note: By default the ATR uses a 14 day average. Is it possible that you meant that the TR instead of the ATR?

Posted By: southerncross
Date Posted: 08 Dec 2004 at 1:02pm

What I am trying to scan for is shares where the average daily price movement over the past 10 days is greater than 20 cents.

Is that ATR or TR?

Posted By: Peter
Date Posted: 13 Dec 2004 at 9:47am

Ahh. That makes more sense. ATR is expressed in the same units as the price data. (ie dollars). So when you said you were looking for an ATR of at least 20, that's why you weren't finding anything.

Yep, you're looking for ATR. Do as I suggested in the first reply, except use 0.20, instead of 20, in step 5.