Get started
Blackboxdev

BASELINE + ATR CHECKER BANDS

Blackboxdev  
Average True Range (ATR) baseline
37
2
averagetruerange baseline
This script shows the Ichimoku Baseline and ATR Bands.

Inspired by VP's algorithm this indicator tell you if you can open a trade or not.

How to use:
If a long/short candle cross the baseline and its close is higher/lower the ATR bands DO NOT TAKE the trade, otherwise feel free to enter.

Input variables:
  • Baseline Period (26 is default)
  • ATR Period (14 is default)
  • ATR safe zone bands multiplier (default is ATR*1)

How to install:
Add this indicator to your chart and pin it to the Right Scale (A)
Protected script
This script is published closed-source but you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.
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?