Average Daily Range Chart?

[murray t turtle]

*WHOOSH*

OK, let me see if I can explain (ruin) the joke:

..... The exchanges charging the commissions -- who are likely behind the promotion of ATR with 1 day interval as "superior" to SMA ADR.

"But its so average..."

I guess 'average' is a play on words (double entendre) of some kind perhaps the "its" referring to "it's" as in the 1day ATR being no better than SMA ADR in predicting trade opportunities, so, in order to avoid the added commissions, "keep looking for an SMA ADR"? Or did that phrase also go *WHOOSH* over my head?

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I'm not against average, jaboW, i use SPY average as a benchmark with various moving averages.You're right ; i also used it as play on words . Also be careful with some of those free chart services. YHOO for example is so far off on thier daily/weekly average % gain; easy to fly into a rage .LOL,

 

[jabowery]

There is nothing that says ATR requires exponential average calculation. Use any averaging method you want.

Then my question should have asked for a free online chart in which the ATR indicator options include selection of the averaging method (as well as the duration).

ADR is useful when viewed as a percentage of price... and then consider that ratio with respect to commissions to determine which stocks you might want to focus on... if day trading. ATR is not as useful in that determination.

That's actually the indicator I want but, as you point out, the ATR (with Day aggregation and simple moving average) is not such an indicator.

Even better for some people is ADR excluding the opening N minutes of trade.

Yes, it's pretty obvious the start of trading is pathologically volatile.

 

[Bum]

"That's actually the indicator I want but, as you point out, the ATR (with Day aggregation and simple moving average) is not such an indicator."

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