Indicator for Average Range (NOT ATR)

[balllightning]

Hi,

I was wondering if anyone has an indicator that calculates the simple average range over a set number of bars. For example, for 3 bars, average range=[(bar1 high - bar1 low)+(bar2 high - bar2 low)+(bar3 high - bar3 low)] / 3.

I don't know how to script indicators so if anyone already has one that would be perfect. Thanks so much.

[NinjaTrader_Bertrand]

Unfortunately I'm not aware of a readymade one, but you could use the help given here as a starting point - the sample calculates an SMA of the range of the last 20 bars, you could easily change this to 3 for your case - http://www.ninjatrader-support.com/H...eV6/Range.html

[balllightning]

Hi. Thanks for that. I think it is what I am looking for. Could you please give me some instruction as to how I can create an indicator for the average range using Ninjascript? The only variable I want to be able to change is the number of bars used in the calculation (so I can calculate the average range over 5,10,100 etc. bars).

Thanks so much,

[NinjaTrader_Bertrand]

I would suggest you start by checking into those tutorials on indicator coding here - http://www.ninjatrader-support.com/H...verview18.html

Then you can just use the second snippet provided in the Range link from my previous post, it calcs over the set period of 20 bars.

To create a customizable user defined input for this setting, please check into this link here -

http://www.ninjatrader.com/support/forum/showthread.php?t=5782

[eDanny]

Wouldn't this just be:

Print("Average = " + (SMA(High, period)[0] - SMA(Low, period)[0])) // <=== untested

Set the period to 3 for your purposes.

Dan