OPEN-SOURCE SCRIPT
ATR multiple from High & Low
A simple numerical indicator measuring ATR multiple from recent 252 days high and low.
ATR multiples from high (and low) are used as a base in many systematic trading and trend following systems. As an example many systems buy after a 2.5–4 ATR multiple pullback in a strong stock if the regime allows it. This would then be paired with an entry tactic, for example buy as it recaptures the a pivot within the upper range, a MA or breaks out again after this mid term pullback/shakeout.
This indicator uses a function which captures the recent high and low no matter if we have 252 bars or not, which is not how standard high/low works in Tradingview. This means it also works with recent IPO:s.
I prefer to overlay the indicator in one of the lower panes, for example the volume pane and then right click on the indicator and select Pin to scale > No scale (fullscreen).
ATR multiples from high (and low) are used as a base in many systematic trading and trend following systems. As an example many systems buy after a 2.5–4 ATR multiple pullback in a strong stock if the regime allows it. This would then be paired with an entry tactic, for example buy as it recaptures the a pivot within the upper range, a MA or breaks out again after this mid term pullback/shakeout.
This indicator uses a function which captures the recent high and low no matter if we have 252 bars or not, which is not how standard high/low works in Tradingview. This means it also works with recent IPO:s.
I prefer to overlay the indicator in one of the lower panes, for example the volume pane and then right click on the indicator and select Pin to scale > No scale (fullscreen).
開源腳本
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.
免責聲明
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.
開源腳本
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.
免責聲明
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.