indicator · own pane · open source
True Range
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About
True Range is the per-bar range that accounts for the gap from the prior close — the raw input most volatility studies feed into.
- TR > bar range when there's a gap against the prior close.
- Plot TR directly to see the day-to-day volatility burst, then smooth with ATR / Wilder for the average.
Source code
//@version=5
indicator("True Range", overlay=false)
tr = ta.tr(true)
p_TR = plot(tr, "TR", color=color.blue)
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