DayATR: Daily Bar Count Sets the ATR Period for Intraday Use
Summary
DayATR is an Average True Range indicator whose period is set automatically from the number of bars in the current day. The stated purpose is to support decision-making during intraday trading. It is described as working across chart timeframes from M1 through D1, and the note says its initial calculation may take some time.
The description provides no formula details beyond the automatic period choice, and it gives no trading rules, examples, or test results. It does not explain how the indicator handles sessions, incomplete trading days, or markets with different trading hours. As a result, the note conveys the intended use and broad timeframe range, but traders would need to inspect implementation details and assess whether the daily bar count suits their instrument and session before relying on its readings.
Key ideas
- DayATR is an Average True Range indicator with a period based on the current day's bar count.
- The indicator is recommended as an input to intraday decisions.
- It is described for chart timeframes from M1 to D1, with an initial calculation delay.
- The document provides no strategy rules or evidence of trading performance.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.