TR (True Range)¶
What it shows: the full size of each candle's move, including any gap from the previous close, in price units. It has no smoothing.
How people use it: to see when single candles get bigger or smaller ("rising" / "falling").
Pairs well with: ATR, the smoothed version, which is calmer.
Settings¶
| Setting | Default | What it does |
|---|---|---|
| Lookback (bars) | 5 | How many candles back "rising" and "falling" compare with. |
You set the defaults on the Indicators page.
Ready-made conditions¶
| For | Condition | Fires when |
|---|---|---|
| Buy or sell | TR rising (vs 5 bars ago) | every candle TR is higher than 5 candles before |
| Buy or sell | TR falling (vs 5 bars ago) | every candle TR is lower than 5 candles before |
"Above", "below", "is" and "rising" / "falling" stay true on every candle the state lasts, so they can fire many candles in a row.
Warnings you may see¶
None specific to this indicator.
Good to know¶
- It is worked out from each candle's high, low and close (not volume).
- One big candle changes it a lot; it is much noisier than ATR.
- It needs some history before its value settles: 2 candles (it needs the previous close). Apathia loads that history for you.
- True Range shows no direction, so the same conditions are offered for buys and sells.