ET-ATR-Price-Overlay
Overlays the Average True Range high/low over Price. Shifts between support and resistance levels (based on ATR-21) according to price trend and breaks.
Average true range: en.wikipedia.org/wik...i/Average_true_range
@EmpoweredTrader
Average true range: en.wikipedia.org/wik...i/Average_true_range
@EmpoweredTrader
// @EmpoweredTrader
// Overlays ATR high/low over price. Shifts between support and resistance levels (based on ATR-21) according to trend and breaks.
study(title="ET-ATR-Price-Overlay", shorttitle="ATR Overlay", overlay=true)
sd = input(true, title="Show ATR?")
atrSeries = iff(na(atrSeries[1]), close + (atr(21)*3), iff(close > atrSeries[1],
iff(close[1] < atrSeries[1], close - (atr(21)*3), iff(atrSeries[1] < close - (atr(21)*3), close - (atr(21)*3), atrSeries[1])),
iff(close[1] > atrSeries[1], close + (atr(21)*3), iff(atrSeries[1] < close + (atr(21)*3), atrSeries[1], close + (atr(21)*3)))))
plot(atrSeries, title="ATR level",style=circles, color=blue ,linewidth=3)