Exponential True Range Average with a Deviation Offset

Summary

This indicator plots an exponential moving average of true range, a measure of price movement that accounts for gaps, along with an offset derived from the exponential average of deviations from that range. The construction offers a way to smooth changing market range and display a related deviation band or reference level.

The document provides only a brief description of the indicator. It does not specify parameter choices, explain how the offset is calculated in detail, or show how to interpret the plots for entries, exits, or risk controls. It also gives no backtest or performance evidence. The mention of cross-version compilation concerns software compatibility rather than trading behavior, so any practical use would require independent definition, testing, and validation.

Key ideas

• The indicator smooths true range using an exponential moving average.
• It plots an additional offset based on the exponential average of deviations in range.
• The description does not provide trading rules, parameter guidance, or empirical performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.