OPEN-SOURCE SCRIPT
Updated

Arego ATR

655
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
Release Notes
I corrected my misconceptions in script logic.

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