ATR Bands

Does anyone have or know where to get ATR Bands?

In essence I am looking for a indicator that looks similar in appearance to bollinger bands but measures ATR..

MadisonFX

They are called Keltner Channels.

MadisonFX,


I don't beleive I have ever seen an ATR Band. If what you are refering to is Average True Range, most charting packages make that available as an indicator. It will calculate the range of prices over a period of time. See my example on the attached chart below.

If you are interested in creating a band around a chart of prices you could use Simple Moving Averages of one day set to the high and low. I did this in a second attachment for reference.

If I am not understanding your question please post some additional information or links, please.

Jeffrey

I have no idea what Keltner Channels are. I'll have to look them up.

Jeffrey

http://www.investopedia.com/articles.../03/021903.asp

...

Interesting thread. The difference it seems is that in Keltner Channels the bands are plotted off an MA, which can be far from Price itself. You could use an MA with a Period of 1, but then you'd not have the ATR data.

The Ideal ATR Band indicator imho would be:

A set of bands which represent a candle’s ATR value, plotted on the chart in both positive and negative values above and below the candle itself. Not be plotting anything off a MA, but instead off the Close of a candle.


Has anyone seen an indicator which plots the ATR bands off the Close?


For example:

Let's say the E/U closes at 1.0000, and the ATR value is 133 pips on the Daily (for this example I will use the standard setting of 14 periods).
Okay, so this ATR band indicator would plot a point +/-133 pips, over and under, the Close of that candle.
The next day let’s say the Close is 1.1500 and the ATR value at the end of this day is now +/-138 pips, so now the indicator would plot a point +/-138 pips, over and under, the close of this day.

And so forth.

The indicator fields would allow you to select both the ATR period you want (the default being 14), and also what percent of the ATR value you want plotted. For example, you may want 2x the ATR14 value plotted, or 0.5 the ATR14 value plotted.

Anyone ever see anything like this? Would be super helpful for quickly choosing TP and SL levels.