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Dieter

ATR at ORB5

By Dieter, in Day Trading Examples and Review

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Dieter    4

Dieter
Posted

Dear team,

I am practicing the ORB5 trade for a couple of days now. I noticed that the first 5 Minute bars are always quite long. 
I tried to use the ATR14 to assess the length of the bar.  However I noticed that it is always considerably smaller then the bar

EG. today JD (see below), ATR14 on 5 minute chart is 0.19, the bar is about 0.5 but does not look too long. What is the mistake here?

Thanks in advance

Dieter

image.thumb.png.eb1225a070b8b6bc2e7a7117e15f92bb.png

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hailchaser2    185

hailchaser2
Posted

I believe you should be getting your ATR from the daily chart. I have my daily chart set to show ATR in the Volume area. When I'm setting up my watchlist, I have a column where I type in that ATR number from the daily chart on that stock.

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Dieter    4

Dieter
Posted

thank you

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