V1.00: Average True Range (ATR) Channel and Trailing Stop Losses
Options
1) Length : ATR length
2) Smoothing: ATR smoothing (RMA, SMA , EMA , WMA )
I) Source for channel addition: Either use the close or the high and low for the channel/ stop calculations (Close, High/Low)
II) Use Custom Time Frame? : Set static timeframe. Use minutes untill you hit the daily, so 1 = 1minute, 240 = 4 hours, 720 = 12 hours, 1D = 1 day, 3D = 3 days, 1W = 1 week, 1M = 1 month.
III) Line type: Either a stepline, standard lines or horizontal lines showing only the current values.
IV) Lines to plot? : The number of lines to plot.
IV) Plot Center Line? : Plot the mean line of the ATR. This is colored by its position relative to the close.
V) Offset plot? : Offset plotting to the left (negative values) or to the right (positive values).
↪ Multipliers: Multipliers for the channel lines.
A) Smoothing: Channel line smoothing by moving average (MA) of your choosing (None, RMA, SMA , EMA , WMA )
B) Length: MA length of lookback.
C) Smooth (only) Center Line: Only smooth the center line and not the channel lines. This can be used if A) is set to "None".
You can also set a host of alerts.
Here is an example using the horizontal "III) Line type" setting.
Another example
Links to my other indicators
TD sequential indicator
TD sequential indicator screener
Oscillator Divergences
Oscillator Divergences Screener
Swing Points and Swing Failure Patterns
Swing Points and Swing Failure Patterns Screener
Support and Resistance Levels with auto Fibonacci
TD alternatives
RSI with a horizontal line
Plot MAs
Average directional index with directional movement indicator
Market Hours
- Show the ATR channel as either a moving average or steps for stop losses.
- You can plot the average center line and up to 12 channel lines.
- You can smooth the channels using a moving average of your choice.
- You can also set a static timeframe so you can view, for example, the daily channels on the 4h chart.
Options
1) Length : ATR length
2) Smoothing: ATR smoothing (RMA, SMA , EMA , WMA )
I) Source for channel addition: Either use the close or the high and low for the channel/ stop calculations (Close, High/Low)
II) Use Custom Time Frame? : Set static timeframe. Use minutes untill you hit the daily, so 1 = 1minute, 240 = 4 hours, 720 = 12 hours, 1D = 1 day, 3D = 3 days, 1W = 1 week, 1M = 1 month.
III) Line type: Either a stepline, standard lines or horizontal lines showing only the current values.
IV) Lines to plot? : The number of lines to plot.
IV) Plot Center Line? : Plot the mean line of the ATR. This is colored by its position relative to the close.
V) Offset plot? : Offset plotting to the left (negative values) or to the right (positive values).
↪ Multipliers: Multipliers for the channel lines.
A) Smoothing: Channel line smoothing by moving average (MA) of your choosing (None, RMA, SMA , EMA , WMA )
B) Length: MA length of lookback.
C) Smooth (only) Center Line: Only smooth the center line and not the channel lines. This can be used if A) is set to "None".
You can also set a host of alerts.
Here is an example using the horizontal "III) Line type" setting.
Another example
Links to my other indicators
TD sequential indicator
TD sequential indicator screener
Oscillator Divergences
Oscillator Divergences Screener
Swing Points and Swing Failure Patterns
Swing Points and Swing Failure Patterns Screener
Support and Resistance Levels with auto Fibonacci
TD alternatives
RSI with a horizontal line
Plot MAs
Average directional index with directional movement indicator
Market Hours
