The BB ATR oscillator indicator shows an average true range based on Bollinger Bands
It has four adjustable parameters:
- ATR period – ATR calculation period
- ATR multiplier – ATR multiplier value
- BB period – Bollinger Bands calculation period
- BB deviation – Bollinger Bands deviation
Calculations:
BBATR = UpperBB – LowerBB – ATR * ATR Multiplier
where:
UpperBB = BollingerBands(UPPER_BAND, BB period, BB deviation)
LowerBB = BollingerBands(LOWER_BAND, BB period, BB deviation)
ATR – AverageTrueRange(ATR period)
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