ATR Calculation - MQL
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Hi All,
I am currently working through indicators just to understand how it works and I am having a problem with ATR.
Reason being how it is calculated int MQL and how it is explained according to Wilder, it is different.
Just want to find out the reasoning.
Basically
True Range (TR) is good. Different calculation, but exact same result.
For ATR:
Wilder = ((Prior ATR x [Period - 1]) + Current TR) / Period
MQL = Prior ATR + (Current TR - TR[Current - Period]) / Period
The difference between the two is major and this affects ADX as well.