using ATR as intraday target is proven to be logical , but the price is not reaching full ATR every day , I noticed that in the low days is reach about 62% of ATR , and normal days it reach 100%
and high days it may reach 162 % , in extremes it may reach 240 % .
but daily ATR of 14 days will delay the variation of the indicator , so my approach the the intraday 1 hour candle ATR in wave oscillation it will oscillate between 62% and 38 % in the candle patterns
so max wave will do 38% pullback , min wave will do 68% pullback , normal wave will be mix of 38% and 62%
so its used to forecast daily coming ATR , min and normal and max ATR
and high days it may reach 162 % , in extremes it may reach 240 % .
but daily ATR of 14 days will delay the variation of the indicator , so my approach the the intraday 1 hour candle ATR in wave oscillation it will oscillate between 62% and 38 % in the candle patterns
so max wave will do 38% pullback , min wave will do 68% pullback , normal wave will be mix of 38% and 62%
so its used to forecast daily coming ATR , min and normal and max ATR