I have a formula for an oscillator i am using on a daily chart that uses ATR 21 in its calculation. What I would like to do is plot this on a 2 hr chart while keeping an approximation of the same values that I see on the daily chart. This is pretty difficult to do because ATR is based on daily price range and not the price range of a 2 hr bar.

I do a lot of converting moving averages between time frames. So, for example, the 5-day ema on a daily chart converts to approximately a 20 period ema on a 2-hr chart.

However doing this with ATR seems difficult for a 2-hr chart. In order to get an approximation you would not be able to base your calculation on daily low, high, and closing prices, but instead would need to skip back 4 bars in the calculations.

Not sure if i'm being clear enough, but if you have an idea of how I might accomplish this it would be great.

I'm currently using ATR 21 on the daily charts but would like to have something for ATR 14 as well.

Josh

Or is there a simpler way that I can pull in an ATR 21 daily number to be used in a calculation for a custom pcf indicatior on a hourly or 2 hour chart?  

I see that you can save an indicator with a specific time frame, but that doesn't seem to hold when you import it into a chart with a different time frame.

I cannot think of a way to do this in TC2000. A longer period is not going to return daily values because it is still based on the range of the intraday bars.

Telework it depends how accurate you need it.

One possibility is to multiply the 2 hour by a factor till its "close" to the daily.

1.39 looks like a good value.
 

Some samples I looked at quick:

VZ daily 21 ATR= .67                VZ   2 hour 21 ATR * 1.39= .74

V daily 21 ATR= 3.53                  V  2 hour 21 ATR * 1.39= 3.31

CAT daily 21 ATR= 2.25            CAT  2 hour 21 ATR * 1.39= 2.13

While not perfect its close.

Thanks

Not a bad idea diceman. I'll play around with it.