The average size of a session's full range over the past fourteen sessions, including any gap from the previous close. It is this desk's unit of distance: saying a level is 1.2 ATR away means the market has to travel about one and a fifth ordinary days to reach it, which compares across indices and across a decade in a way that a number of points does not.
Mayawhat these words mean
Maya reads the desk’s written explainers and the glossary. She holds no market data at all, so she can say what a thing is and cannot say what it is doing today.