OPEN-SOURCE SCRIPT

Double Median ATR Bands | MisinkoMaster

210
The Double Median ATR Bands is a version of the SuperTrend that is designed to be smoother, more accurate while maintaining a good speed by combining the HMA smoothing technique and the median source.

How does it work?
Very simple!
1. Get user defined inputs:
=> Set them up however you want, for the result you want!
2. Calculate the Median of the source and the ATR
=> Very simple
3. Smooth the median with √length (for example if median length = 9, it would be smoothed over the length of 3 since 3x3 = 9)
4. Add ATR bands like so:
Upper = median + (atr*multiplier)
Lower = median - (atr*multiplier)

Trend Logic:
Source crossing over the upper band = uptrend
Source crossing below the lower band = downtrend

Enjoy G´s!

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.