MetaStock -> Tools -> Indicator Builder -> New Copy and paste formula below. ==================== ATR - True & Reverse ==================== ---8<-------------------------------- {True, Reverse & MetaStock ATR - v4.0 ©Copyright 2004-2010 Jose Silva http://www.metastocktools.com Reverse True Range is the the *smallest* of the following for each period: * The distance from today's High to today's Low; * The distance from yesterday's Close to today's High; * The distance from yesterday's Close to today's Low.} {Inputs} type:=Input("ATR type: [1]Points($) [2]Percentage(%)",1,2,1); plot:=Input("[1]True ATR [2]Reverse ATR [3]Both [4]MS-ATR",1,4,1); pds:=Input("Average True Range periods", 1,252,10); pdsN:=Input("ATR 0-100% normalizing periods [1=none]",1,2520,1); smooth:=Input("Additional Sine-weighted smoothing? [1]Yes [0]No",0,1,0); {Define True Range} x1:=ValueWhen(2,1,C); TrueRange:=Max(H-L,Max(Abs(x1-H),Abs(x1-L))); RevTrueRange:=Min(H-L,Min(Abs(x1-H),Abs(x1-L))); {$/%} TrueRange:=If(type=1,TrueRange,TrueRange/C*100); RevTrueRange:= If(type=1,RevTrueRange,RevTrueRange/C*100); {Average True Range} ATRtrue:=Mov(TrueRange,pds,E); ATRrev:=Mov(RevTrueRange,pds,E); ATRmeta:=Mov(TrueRange,pds*2-1,E); ATRraw:=If(plot=1,ATRtrue,If(plot=2,ATRrev, If(plot=4,ATRmeta,ATRtrue))); {Normalize ATR} ATRnorm:=100*(ATRraw-LLV(ATRraw,pdsN)) /(HHV(ATRraw,pdsN)-LLV(ATRraw,pdsN)+.000001); ATRplot:=If(pdsN<2,ATRraw,ATRnorm); rATRnorm:=100*(ATRrev-LLV(ATRrev,pdsN)) /(HHV(ATRrev,pdsN)-LLV(ATRrev,pdsN)+.000001); rATRplot:=If(pdsN<2,RevTrueRange,rATRnorm); {Optional sine-weighted smoothing} ATRplot:=If(smooth=1,(Sin(30)*ATRplot +Sin(60)*Ref(ATRplot,-1) +Sin(90)*Ref(ATRplot,-2) +Sin(60)*Ref(ATRplot,-3) +Sin(30)*Ref(ATRplot,-4)) /(Sin(30)*2+Sin(60)*2+Sin(90)),ATRplot); rATRplot:=If(smooth=1,(Sin(30)*rATRplot +Sin(60)*Ref(rATRplot,-1) +Sin(90)*Ref(rATRplot,-2) +Sin(60)*Ref(rATRplot,-3) +Sin(30)*Ref(rATRplot,-4)) /(Sin(30)*2+Sin(60)*2+Sin(90)),rATRplot); {Display in own window} If(plot=3,rATRplot,ATRplot); ATRplot ---8<-------------------------------- http://www.metastocktools.com