Traders' Tips from TASC Magazine

Average True Range or Standard Deviation

The formulas discussed by Gordon Gustafson;
in his article, "Average True Range Or Standard Deviation," can be created in MetaStock 6.52 or higher.

To create these indicators, in MetaStock, select the Indicator Builder from the Tools menu. Then click New and enter the formulas as listed below:

Standard Deviation Bands

stdh := Mov(C,20,E)+2*(Stdev(C,20));
stdl := Mov(C,20,E)-2*(Stdev(C,20));

stdh;
stdl

Average True Range Bands

stdha := Mov(C,20,E)+2*(ATR(20));
stdla := Mov(C,20,E)-2*(ATR(20));

stdha;
stdla

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