OPEN-SOURCE SCRIPT
EMA/Session/ATR/LotSize
Several indicators combined
1. 6 Exponential Moving Averages - Identifying the trend direction or using EMAs as a dynamic support/resistance.
2. Session on Chart - Highlighting session for day trading. London, New York, Tokyo, and Sydney.
3. Average True Range - display the Average True Range on recent price to calculate the volatility.
4. Lot Size Calculator - to calculate lot size based on account balance, risk per trade, atr stop-loss, and art multiplier.
5. ATRX - ATRX is an indicator that gives the value of the (close price - EMA 27)/ATR (14)
It tells how strong the trend is compared to its volatility
According to AJ. BANK FTMO Trader Thailand, if the value of ATRX is between 2X-3X or -2X-3X, you should consider trading using climax zone on timeframe H1.
If the ATRX is more than 3X or less than -3X but does not exceed 4X or -4X, you should consider trading using timeframe M15 in the climax zone.
However, if the ATRX exceeds 4X or -4X, use M5 instead.
1. 6 Exponential Moving Averages - Identifying the trend direction or using EMAs as a dynamic support/resistance.
2. Session on Chart - Highlighting session for day trading. London, New York, Tokyo, and Sydney.
3. Average True Range - display the Average True Range on recent price to calculate the volatility.
4. Lot Size Calculator - to calculate lot size based on account balance, risk per trade, atr stop-loss, and art multiplier.
5. ATRX - ATRX is an indicator that gives the value of the (close price - EMA 27)/ATR (14)
It tells how strong the trend is compared to its volatility
According to AJ. BANK FTMO Trader Thailand, if the value of ATRX is between 2X-3X or -2X-3X, you should consider trading using climax zone on timeframe H1.
If the ATRX is more than 3X or less than -3X but does not exceed 4X or -4X, you should consider trading using timeframe M15 in the climax zone.
However, if the ATRX exceeds 4X or -4X, use M5 instead.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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