True Range Break Out Entry Signal

Prorealtime Automated Trading Strategies And Training

True Range Break Out Entry Signal

True Range Break Out Signal

Average True Range Investopedia Definition

This indicator looks for a candle stick that has a height(range) greater than those in the average over a define period times a multiplier, the idea being that a value above 2*ATR for example is statistically significant indicating a break out move


atr = AverageTrueRange[20]

atr1 = 2// long atr multiplier

atr2 =2//short atr mutliplier

// LONG
IF (abs(open-close) > (atr*atr1) and close > open) THEN
BUY 1 CONTRACTS AT MARKET
ENDIF

//SHORT
IF (abs(open-close) > (atr*atr2) and close < open) THEN
SELLSHORT 1 CONTRACTS AT MARKET
ENDIF


Example Systems Using The indicator

Dax 15 Minutes True Range Break Out

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