OPEN-SOURCE SCRIPT
ATR Rope Strategy - Jaxon0007
🔹 Overview
The ATR Trend Rope is a volatility-based trend detection tool designed to adapt dynamically to price movements.
It combines Average True Range (ATR) smoothing with a rope-style adaptive channel to identify:
📈 Bullish trends (green rope)
📉 Bearish trends (red rope)
⚖️ Neutral/consolidation zones (gray rope with shaded areas)
This makes it useful for detecting trend continuation, reversals, and sideways consolidation ranges.
🔹 Features
✔️ Adaptive Rope Line → Filters out market noise using ATR.
✔️ ATR Channel → Upper & lower dynamic levels for volatility tracking.
✔️ Consolidation Zones → Highlights sideways price action.
✔️ Dynamic Colors → Instant visual feedback of trend direction.
🔹 How to Use
Trend Detection
Green rope = bullish trend (look for longs).
Red rope = bearish trend (look for shorts).
Gray rope = neutral / range (avoid trend trades).
Consolidation Zones
Shaded areas represent sideways phases.
Breakouts from these zones often lead to strong moves.
ATR Channel
Optional channel lines act as dynamic support/resistance.
Price above channel → strong bullish pressure.
Price below channel → strong bearish pressure.
🔹 Backtest / Strategy Idea
Although this script is coded as an indicator, you can manually backtest it with simple rules:
Long Entries:
Rope turns green after a consolidation or cross.
Confirm with price closing above rope.
Short Entries:
Rope turns red after a consolidation or cross.
Confirm with price closing below rope.
Exit / Stop-Loss:
Exit when rope flips color.
Stop-loss can be placed at ATR channel levels.
This system can be turned into a strategy by adding entry/exit conditions directly in Pine Script (optional).
🔹 Settings
Price Source: Default close (can be changed).
ATR Period: Default 14.
ATR Multiplier: Default 1.5 (controls sensitivity).
Show Consolidation Zones: On/Off toggle.
Show ATR Channel: On/Off toggle.
The ATR Trend Rope is a volatility-based trend detection tool designed to adapt dynamically to price movements.
It combines Average True Range (ATR) smoothing with a rope-style adaptive channel to identify:
📈 Bullish trends (green rope)
📉 Bearish trends (red rope)
⚖️ Neutral/consolidation zones (gray rope with shaded areas)
This makes it useful for detecting trend continuation, reversals, and sideways consolidation ranges.
🔹 Features
✔️ Adaptive Rope Line → Filters out market noise using ATR.
✔️ ATR Channel → Upper & lower dynamic levels for volatility tracking.
✔️ Consolidation Zones → Highlights sideways price action.
✔️ Dynamic Colors → Instant visual feedback of trend direction.
🔹 How to Use
Trend Detection
Green rope = bullish trend (look for longs).
Red rope = bearish trend (look for shorts).
Gray rope = neutral / range (avoid trend trades).
Consolidation Zones
Shaded areas represent sideways phases.
Breakouts from these zones often lead to strong moves.
ATR Channel
Optional channel lines act as dynamic support/resistance.
Price above channel → strong bullish pressure.
Price below channel → strong bearish pressure.
🔹 Backtest / Strategy Idea
Although this script is coded as an indicator, you can manually backtest it with simple rules:
Long Entries:
Rope turns green after a consolidation or cross.
Confirm with price closing above rope.
Short Entries:
Rope turns red after a consolidation or cross.
Confirm with price closing below rope.
Exit / Stop-Loss:
Exit when rope flips color.
Stop-loss can be placed at ATR channel levels.
This system can be turned into a strategy by adding entry/exit conditions directly in Pine Script (optional).
🔹 Settings
Price Source: Default close (can be changed).
ATR Period: Default 14.
ATR Multiplier: Default 1.5 (controls sensitivity).
Show Consolidation Zones: On/Off toggle.
Show ATR Channel: On/Off toggle.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
✨ Shared Success | Trusted Growth ✨
🚀 Profit Sharing 50/50 – Discipline & Transparency
📊 Free Signals: 👉 t.me/Forexcryptoaccountms
💼 Account Management: DM me or join the channel
🚀 Profit Sharing 50/50 – Discipline & Transparency
📊 Free Signals: 👉 t.me/Forexcryptoaccountms
💼 Account Management: DM me or join the channel
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
✨ Shared Success | Trusted Growth ✨
🚀 Profit Sharing 50/50 – Discipline & Transparency
📊 Free Signals: 👉 t.me/Forexcryptoaccountms
💼 Account Management: DM me or join the channel
🚀 Profit Sharing 50/50 – Discipline & Transparency
📊 Free Signals: 👉 t.me/Forexcryptoaccountms
💼 Account Management: DM me or join the channel
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.