OPEN-SOURCE SCRIPT
ATR Multiples Plotted
Updated
Inspired by @jeffsuntrading and @Fred6724's ATR% multiple from 50-MA.
There are no catch-all values, however a high of 6 and a low of -4 generally has been valuable to me. I tend to look at the historical highs and lows of the indicator, and adjust the Value High and Value Low accordingly to get an idea when profit-taking may be sensible.
The essence is the difference between price and the selected moving average, measured in ATRs.
There are no catch-all values, however a high of 6 and a low of -4 generally has been valuable to me. I tend to look at the historical highs and lows of the indicator, and adjust the Value High and Value Low accordingly to get an idea when profit-taking may be sensible.
The essence is the difference between price and the selected moving average, measured in ATRs.
Release Notes
Added custom ATR LengthRelease Notes
Added optional 0-lineRelease Notes
Tidied and clarified some of the code.--Currently working on an 'Adaptive Mode', which will calculate and plot the upper and lower values based on the selected average's historical turning points
Release Notes
Added quick reference table to show the dollar value of your chosen Value High and it's upside percentage. Comes in handy when scanning or evaluating Pre/Post-Market moves. See ATRx6 value and AMZN pre-market value of ~$170 on 02/02/2024 for example.
Release Notes
ChartRelease Notes
Added option to allow percentage based calculations, which is how Jeff Sun's indicator is calculated. Some changes and clarification to the table, see the tooltips for guidance.
Release Notes
Chart updateRelease Notes
Fixed typos in tableRelease Notes
Updated to Pine v6Open-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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