ATR Oscillator [CP]

This is an experimental script in which i have oscillated the ATR, which is configurable for all timeframes and lockable for the H1, H4 and Daily values.

Officially the ATR is calculated by using an EMA on the True Range over a certain period. I have added a lot of filters for experimenting.

NOTE: This is a test for me in oscillation and filtering of signals, for now that is it's purpose.


Description of the ATR as it is intended

To calculate the ATR, the True Range first needs to be discovered. True Range takes into account
the most current period high/low range as well as the previous period close if necessary.

There are three calculation which need to be completed and then compared against each other.

The True Range is the largest of the following:

The Current Period High minus (-) Current Period Low
The Absolute Value (abs) of the Current Period High minus (-) The Previous Period Close
The Absolute Value (abs) of the Current Period Low minus (-) The Previous Period Close

true range=max[(high - low), abs(high - previous close), abs (low - previous close)]

*Absolute Value is used because the ATR does not measure price direction, only volatility.
Therefore there should be no negative numbers.

*Once you have the True Range, the Average True Range can be plotted.
The ATR is an Exponential Moving Average of the True Range.