Creates an upper and lower level based on the ATR for your selected period. Calculation is based on the following; Shift Variable works by allowing calculation from x-periods back.
Upper band = (Daily Low + ATR) Lower Band = (Daily High - ATR)
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- Switched to horizontal lines to allow full screen extension - Added color switching when price has exceeded one of the boundaries for the day - Added the value of the range to the line label
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- Added price level to label
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- Slight adjustment to label format
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- Minor Visual Updates
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- Minor visual tweaks
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Added the ability to change line styling and colour choices from user input variables
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Added multiplier value by request (default 1x ATR)
Fantastic indicator. Thank you for making it. Have you noticed any anomalies when applying it to particular futures contracts? It's accurate on currencies, and even the Crude/CL futures contract. However, it appears to have inaccurate values on ES (the S&P) and SI (silver) futures products. Anyway - thanks for the great work on this indicator.
BradySchultz
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Is there anyways you can add a multiply as an option for this?? finding x2 the ATR daily is a super powerful reversal point
NimhFX
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@BradySchultz, Thanks Brady, No worries will add it as a parameter
Matteovirgo
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How do you use it? Do you consider the two ATR levels as support/resistance to trade the reaction of the price from those levels?
ras1306
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Hi, nice indicator. Thx. 1 small error: the ATR in the text label is incorrect for ATR's>100. The decimal is incorrect. Check AMZN for example. mentions ATR: 1146.6 while this should be 114.66 for a daily 21 ATR. Meybe you can correct this.
dcm2020
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Hi, this indicator is really good and reliable, however, I would like to recommend/ask if you can change from shapes to a horizontal line instead. I think it will look better in the chart. Thank you so far.
FTW-Trader
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I love this indicator. Ive tried to re-create it for the weekly timeframe but I dont seem to be able to make it like you did lol. Would it be possible to add it for the weekly time frame?
bombosolari
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I love this indicator but sometimes it doesn't seem to calculate accurately always on every chart The charts which it seems correct on are yellow, but then the ones it is wrong is a darker orange/red. Do you know why this might have some issues?
CrownSenior
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@bombosolari, the red color is just showing, that the expected ATR range was exceeded. So far IMHO it is not a bug, but a feature. But I agree with you, that we might have to check the validity of the calculated range in these cases.
kyvhy66
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This is almost perfect, my only request is the ability to change the ATR calculation method - I prefer exponential. Thanks.