Triangular Trend Channel ATR

Jan 29, 2023

TTCATR: Triangular Trend Channel ATR is a script to dynamically create a trend channel. It uses Moving Average & the Average True Range function to calculate support and resistance levels automatically.

The MA choices available are:
SMA = simple moving average
EMA = exponentially weighted moving average
RMA = moving average used in RSI
WMA = weighted moving average
VWMA = volume weighted moving average
VWAP = volume weighted average price
HMA = Hull moving average
SWMA = symmetrically weighted moving average
ALMA = Arnaud Legoux moving average

The default setting inputs are:
source = OHLC4
MA length = 20
MA signal = 10
ATR Multiply = 3
ALMA offset = 0.89
ALMA sigma = 5
Moving average type = VWMA
Level 1 ATR = 1.236
Level 2 ATR = 2.382
Level 3 ATR = 3.5
Level 4 ATR = 4.618
Level 5 ATR = 5.786

The default setting colors are:
Top = gray
R4 = white
R3 = green
R2 = orange
R1 = blue
pivot = white
(track pivot line = bullish is green, bearish is red)
S1 = purple
S2 = yellow
S3 = red
S4 = white
Bottom = gray

* This script uses altered pieces of code from my Options360 TTC: Triangular Trend Channel and TradingView "Intrabar Efficiency Ratio indicator". *

Nov 1, 2023

Release Notes

update 10/30/23:
1) add support / resistance circles.
2) add cross pivot, S1, S2, R1, R2 circles.
3) add ATR label option.