Installing ATR in the unisearch tool
I would like to use the unisearch tool and use the ATR to find stocks that move within a certain price each day.
James MacKinnon
shared this idea
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Michael Ellis
commented
Adding a minimum of ATR (10) and ATR(14), the two most common periods, to the VV parameters would at least get the ball rolling. Users could then use the Custom Field Builder to build other algorithms of their choosing, like ATRP (Average True Range Percentage) (ATR/Actual Price), which would enable stock to stock comparison for volatility. BOTH ATR and ATRP should also be made available at the same time in Graph Layouts.
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Alan Burke
commented
I use ATR * 2.5 as a default stop setting. With spread betting in the UK, there is usually a minimum stake of £1 per point, which results in very high priced stocks being too high risk to trade, so I'd want Unisearch to be able to exclude these from the search results. For example, say I want to risk no more than £100 on any trade. If the ATR is 90 for a particular stock, I'd need to set my stop 225 points below entry, which would mean my risk would be at least £225. If I could set ATR =< 40 as a Unisearch parameter, that would screen out all the high ATR results.