The Average True Range (ATR) is a technical analysis indicator introduced by market technician J. Welles Wilder Jr. in his book New Concepts in Technical Trading Systems that measures market volatility by decomposing the entire range of an asset price for that period. The true range indicator is taken as the greatest of the following: current high less the current low; the absolute value of the current high less the previous close; and the absolute value of the current low less the previous close.
ATR Channel is a Channel Indicator which consist of 2 Bands and Moving Average, The upper band & lower band is a ATR Factor of 2 & 3 to Moving Average.
The indicator consist of following inputs which can be changed according to user choice:
Moving Average Period
Moving Average TypeATR Period
First ATR Channel Factor (e.g. 2.0)
Second ATR Channel Factor (e.g. 3.0)
