OPEN-SOURCE SCRIPT
(mab) ATR Band
Updated
Simple ATR band as overlay on price chart.
Release Notes
This updated version is more advanced. It plots a simple ATR band on daily and higher time frames. On intraday charts it can plot a dynamic band that takes the previous days ATR as starting point. At new lows it lowers the upper band to the new low plus the previous days ATR. At new highs it rises the lower band to the new high minus the previous days ATR.Release Notes
This update enhances the (mab) ATR Band indicator with multi time frame capabilities. If "Floating daily ATR on intraday charts" is enabled, it shows the previous days ATR value as a starting point at the start of the session on intraday charts. At new lows it lowers the upper band to the new low plus the previous days ATR. At new highs it rises the lower band to the new high minus the previous days ATR.Similarly if "Floating weekly/monthly ATR on daily/weekly charts" is enabled, it shows the previous weeks ATR as starting point on daily charts and the previous months ATR on weekly charts. At new lows it lowers the upper band to the new low plus the previous weeks/moths ATR. At new highs it rises the lower band to the new high minus the previous weeks/months ATR.
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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