Normalized ATR indicator — current session range as a percentage of historical average
Session ATR Percent displays the current session's Average True Range as a percentage of the historical average. It tells you at a glance whether today's session is running hotter or cooler than normal.
The study computes the ATR for the current session (within the configured time window) and divides it by the rolling average ATR over the last N completed sessions. The result is displayed as a percentage:
Completed session ATR values are stored in a persistent rolling window. When a new session ends, its ATR is added to the history and the oldest value is dropped if the window exceeds the configured length.
This study must be applied to a time-based chart (e.g., 1 minute, 5 minutes, 1 hour). It relies on time-based session boundaries to compute the ATR correctly. It will not work on tick, volume, range, or Renko charts.
| Setting | Default | Description |
|---|---|---|
| Session Start Time | 9:30 | Start of the session window |
| Session End Time | 16:00 | End of the session window |
| History Length (Days) | 20 | Number of sessions in the rolling average |
| Text Color | White | Text foreground color |
| Background Color | Black | Text background |
| Font Size | 14 | Text size |
| Font Bold | Yes | Bold text |
| Position X | 1 | Horizontal position (1-150) |
| Position Y | 1 | Vertical position (1-100) |