CM ATR Stops/Bands - Multi-TimeFrame — Indicator by ChrisMoody

pinescript chrismoody atr stops support supportandresistance averagetruerange average true range

CM_MTF ATR Bands/Stops

Many Options Available Via Input Tab:
-Chart Defaults to Upper and Lower ATR's Based on Current Chart TimeFrame
-Ability to Plot either Upper and/or Lower ATR's
-Ability to Change the Time Frame ATR's are Based On!
-Ability to change Look Back Period and ATR Multiplier Individually for Both Time Frames
-This Gives you the ability to plot same Time Frame with (for ex.) a 5 ATR with a 1.5 Mult and a 14 ATR with a 2.0 Mult etc.
-Or you can plot Daily ATR's on a 60 minute Chart etc.
-ATR Multipliers are Calculated with Code that allows "Non Whole Numbers" Allowing Ability to use 1.5 ATR's, 1.8 ATR's etc.

***Endless # of Combinations can be used!!!!

Coming Soon: www.ChrisMoodyTrading.com

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?

//Created By ChrisMoody on 11-20-2014

study(title="CM_MTF_AverageTrueRange_Stops", shorttitle="CM_MTF_ATR_Stops", overlay=true)
length = input(5, minval=1, title="# of Bars to Calculate ATR")
mult = input(15, minval=1, maxval=40, title="Value X .1, 10=1 (No Multiplier), 15=1.5 times ATR Value")
sav = input(true, title="Show ATR Stop Above Price")
sbv = input(true, title="Show ATR Stop Below Price")
useCurrentRes = input(true, title="Use Current Chart Resolution?")
resCustom = input(title="Use Different Timeframe? Uncheck Box Above", type=resolution, defval="D")
//Optional 2nd ATR Bands Inputs
def = input(false, title="Optional 2nd ATR Bands - Inputs Below?")
length2 = input(5, minval=1, title="# of Bars to Calculate ATR - Optional 2nd Bands Plot")
mult2 = input(30, minval=1, maxval=40, title="Value X .1, 10=1 (No Multiplier), 15=1.5 times ATR Value - Optional 2nd ATR Bands Plot")
sav2 = input(false, title="Show ATR Stop Above Price - Optional 2nd ATR Bands Plot")
sbv2 = input(false, title="Show ATR Stop Below Price - Optional 2nd ATR Bands Plot")
useCurrentRes2 = input(true, title="Use Current Chart Resolution - Optional 2nd ATR Bands Plot?")
resCustom2 = input(title="Use Different Timeframe - Optional 2nd Bands Plot? Uncheck Box Above", type=resolution, defval="D")

res = useCurrentRes ? period : resCustom
res2 = useCurrentRes2 ? period : resCustom2

//Multiplier Calculation
Xmult = mult * .1
//Optional 2nd Bands
Xmult2 = mult2 * .1

//ATR Calculation with Multiplier
atrMult = sma(tr, length) * Xmult
outATR = security(tickerid, res, atrMult)
//Optional 2nd Bands
atrMult2 = sma(tr, length2) * Xmult2
outATR2 = security(tickerid, res2, atrMult2)

//Values Above and Below Bars
aboveStop = high + outATR
belowStop = low - outATR
//Optional 2nd Bands
aboveStop2 = high + outATR2
belowStop2 = low - outATR2

///Values Plotting chosen Chart Resolution
aboveFinal = security(tickerid, res, aboveStop)
belowFinal = security(tickerid, res, belowStop)
//Optional 2nd Bands
aboveFinal2 = security(tickerid, res2, aboveStop2)
belowFinal2 = security(tickerid, res2, belowStop2)

//plot Statements
p1=plot(sav and aboveFinal ? aboveFinal : na, title="1st ATR Band Upper Plot1", style=linebr, linewidth=3, color=red)
p2=plot(sbv and belowFinal ? belowFinal : na, title="1st ATR Band Lower Plot1", style=linebr, linewidth=3, color=lime)
plot(sav and aboveFinal ? aboveFinal : na, title="1st ATR Band Upper Plot2", style=circles, linewidth=3, color=red)
plot(sbv and belowFinal ? belowFinal : na, title="1st ATR Band Lower Plot2", style=circles, linewidth=3, color=lime)
//Optional 2nd Bands
p3=plot(sav2 and aboveFinal2 ? aboveFinal2 : na, title="2nd ATR Band Upper Plot1", style=linebr, linewidth=4, color=red)
p4=plot(sbv2 and belowFinal2 ? belowFinal2 : na, title="2nd ATR Band Lower Plot1", style=linebr, linewidth=4, color=lime)
plot(sav2 and aboveFinal2 ? aboveFinal2 : na, title="2nd ATR Band Upper Plot2",  style=circles, linewidth=4, color=red)
plot(sbv2 and belowFinal2 ? belowFinal2 : na, title="2nd ATR Band Lower Plot2", style=circles, linewidth=4, color=lime)
fill(p1, p3, color=red, transp=80)
fill(p2, p4, color=lime, transp=80)