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https://github.com/mihakralj/QuanTAlib.git
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23 lines
552 B
Plaintext
23 lines
552 B
Plaintext
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// The MIT License (MIT)
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// © mihakralj
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//@version=6
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indicator("True Range", "TR", overlay=false)
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//@function Calculates the True Range
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//@returns The True Range value for the current bar.
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tr() =>
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float prevClose = nz(close[1], close)
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float tr1 = high - low
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float tr2 = math.abs(high - prevClose)
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float tr3 = math.abs(low - prevClose)
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float trueRange = math.max(tr1, math.max(tr2, tr3))
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trueRange
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// ---------- Main loop ----------
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// Calculation
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trValue = tr()
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// Plot
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plot(trValue, "TR", color=color.yellow, linewidth=2)
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