Get started
zephurr

ATR Channels

zephurr Updated   
Average True Range (ATR) Exponential Moving Average (EMA) ATR elder
454
6
averagetruerange ema atr elder
An Exponential Moving Average (EMA) with three sets of channel lines each one Average True Range (ATR) apart, above and below the EMA. Fully customizable, you can toggle the EMA and ATR set visibility, line colors, etc.

Inspired by Elder's 'The New Trading For a Living', page 93: "Kerry Lovvorn likes to plot 3 sets of lines around a moving average: at one, two, and three ATRs above and below an EMA. These can be used for setting up entry points and stops, as well as profit targets."

Release Notes:
  • Added optional 2nd EMA
    Fixed hide/show lines bug when custom transparency was set in style settings
    Updated to Pine Script 4
Release Notes:
Added optional 50 period EMA.
Release Notes:
Added optional 50 EMA, updated default colors & styles.
Release Notes:
Added optional 200 EMA. Changed style of 50 EMA.
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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.

Want to use this script on a chart?