The AIQ code based on Vitali Apirine’s article in the November issue of Stocks & Commodities, “Average Percentage True Range,” is provided at www.TradersEdgeSystems.com/traderstips.htm.
The code provided is used as an indicator (which I’ve called “PATR”). An example of the PATR is shown in Figure 7 on a chart of Apple Inc. (AAPL) compared to the same indicator on the S&P 500 index (SPX).
FIGURE 7: AIQ. Here is the percentage average true range (PATR) on a chart of AAPL in comparison to the same indicator plotted on the SPX index.
As mentioned, the code and EDS file can be downloaded fromwww.TradersEdgeSystems.com/traderstips.htm, and is shown below.
!AVERAGE PERCENTAGE TRUE RANGE !Author: Vitali Apirine, TASC Nov 2015 !Coded by: Richard Denning 9/7/2015 !www.TradersEdgeSystems.com WilderLen is 14. Index is "SPX". H is [high]. L is [low]. C is [close]. C1 is valresult(C,1). LH is H - L. HC is Abs(H - C1). LC is abs(L - C1). M is max(LH,HC). MM is max(M,LC). ATR1 is iff(MM=HC,HC,0). MID1 is iff(ATR1>0,(valresult(C,1)+(HC/2)),0.00001). ATR2 is iff(MM=LC and ATR1=0,LC,0). MID2 is iff(ATR2>0,(L+(LC/2)),0.00001). ATR3 is iff(MM=LH and ATR1=0 and ATR2=0,LH,0). MID3 is iff(ATR3>0,(L+(LH/2)),0.00001). ATRS is iff(ATR1>0,ATR1/MID1,iff(ATR2>0,ATR2/MID2,iff(ATR3>0,ATR3/MID3,0)))*100. ExpLen is WilderLen*2-1. APTR is expavg(ATRS,ExpLen). !PLOT APTRidx is TickerUDF(Index,APTR). !PLOT ShowValues if 1.
