This script automatically calculates ATR on a daily basis where it would be highest and lowest and draws a line there. With this you can see whether stock has passed the ATR or not.
When stock moves, line is adjusted as well. For example, the stock opened at $100 and moved down $1. ATR is $5. Script will then draw two lines on the chart. Daily low ATR would then be $95 and daily high ATR would then be $104.
The formula is very simple:
Current price + ATR = daily high Current price - ATR = daily low