Chonky ATR Bars - Colored1. Compares visible bars to specified ATR inputs.
2. Colors bars if the bar is less than or greater than the specified ATR multiples.
Ex: if the bar has a range of 1/2 half the Daily ATR or less, color blue. if the bar has a range of triple the 4h ATR or greater, color orange.
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DM me interesting ideas, filters, knowledge, etc. to gain access.
Teach me something idgaf.
ATR
Tiger's Stop - Objective Stoploss SettingTrading is a lot about risk management too. I created this script to help with setting and moving a proper stop-loss. It plots an area that is a result of adding and subtracting both average true range and something I call "false range".
►The Average True Range is calculated as the candle's high-low. If there is a gap, it is added to complete the result.
►My own False Range just candle bodies. It is calculated as an absolute value of (close-open).
Then, Rolling Moving Average is applied on both ATR and False Range to get an idea of how far the price tends to extend out of pure randomness. The resulting value is multiplied by a Multiplier.
The next step is an addition of the values to the higher part of the candle for short or a lower part of the candle for long. I prefer a special calculation instead of using Highs and Lows because it allows for more precise observation and stop-loss set up for less wicky symbols.
►►►Additional Functions
• Smoothing - applies moving average to candles from which range distance is calculated. This can achieve good smoothness but higher values will lead to using outdated price in the SL area calculation.
• Enable/Disable - if you know the direction you are going to trade in, it is good to disable either Long Stop-Loss Area or Short Stop-Loss Area. Just untick it in the settings.
►►►Actual Using
Before using the script to set your stop-loss, check the historical data and find a similar set-up. Is it engulfing you use as a trigger? Find a different one and see how effective the stop-loss based on the ATR*multiplier was. This will help you to optimize Multiplier value. A picture shows such research for a double top. You should find more similar situations to find an optimal value.
Ultimately, the indicator still gives you relatively a lot of freedom with your stop-loss settings (at least, that is with the default settings). You need to decide how loose stop-loss you want to set. Average True Range is the furthermost part which will make for a very large stop-loss, on the other hand, False Range might be triggered by a villainous wick unnecessarily. The choice should depend on the specific symbol you trade and perhaps, you will learn to set stops regardless of the indicator.
A little trick : 1. You can set the loosest stop-loss and set a TradingView alert for where the tightest stop-loss would be. When alerted, you will get the opportunity to reconsider the trade and take a loss if needs be or exit if a candle closes there. 2. Mostly for cryptocurrencies, you can set the tightest stop-loss to protect yourself from sudden spikes. If the price approaches it slowly enough, you can move the stop-loss to the further part of the channel. This is not the same as moving stop-loss indefinitely with hopes of reversal if you plan it from the beginning and a smaller stop is meant to protect you from spikes that are not always predictable and drive to both directions.
►►►Advantages of trailing stop-loss
I usually stick with my original stop-loss instead of moving to break even. If my entry area was functional support once, it may work again and is, therefore, still a good entry zone. But an alternative used to preserve as much of the profit as possible is trailing.
Trailing is setting a specific value in ticks or a calculation of how to move the stop-loss whenever the price moves in your favor. Tiger's Stop can be used this way. Whenever there is a new value as the candle closes and that value is closer to price than your current stop-loss, you can update it. However, if it moves further from your price, don't change the stop-loss. This can be a little tiresome if you do it manually but should be worth the effort.
I usually start trailing only after the price moves significantly in my favor that allowing it to return to the entry price would not make any sense.
►►►Feedback and optimization
The preview chart is chosen entirely at random and the values are not optimized for any specific symbol. If you opt to use it, let me know which values work for you the best, I'll add it to the description when I update it.
Furthermore, let me know if you think any sort of alerts would be useful with my script.
Good luck!
Trend MagicTrend Magic is originally a MT platform (MetaTrader) indicator and it can be used with any forex trading systems / strategies for additional confirmation of trading entries or exits. Converted the MT platform code to TradingView Pine version 4. Also you can use Multiple Time Frame.
It also works well with Crypto and Stock Markets.
Trend Magic consists of two main calculation parts as momentum and volatility:
First part is ATR based (like ATR Trailing Stop) logic, second part is all about CCI which also determines the color of Trend Magic.
Blue: when CCI is positive
Red: when CCI is negative
Also added alert condition regarding price crosses :
when LOW CrossesAbove TM
and HIGH CrossesBelow TM
Enjoy
Kıvanç Özbilgiç
VR-MASTThis is a my script for a super simple trading strategy - ZEST.
Identify Zone of Value, Enter on pullback, place proper Stop Loss and set achievable Targets.
So, to identify Zone of Value, I have EMA in my script.
20EMA generally acts as a dynamic Support/Resistance zone.
For Buy Stop Loss, we have 1ATR below Swing Low.
Then, we have SuperTrend for Trailing Stop Loss.
Moving average of 1-period Percent ChangeAnother way of finding the average range of the bars using 1 period percentage change of the price and taking an average of them. It's given in percentages and the absolute value of the average can be shown when the option is turned on, or the average including the up and down bars can be shown. Perhaps an alternative way of looking at volatility or range of the bars. If you prefer a line version over histogram, just simply change the style under the settings of the indicator.
PVA Range High & LowFINALLY LEFT. the RANGE DAILY at the top RDH and the RANGE DAILY at the bottom RDL, is a PVSRA indicator used to calculate the daily ATR (Average True Range), with the help of my friend @ferhro, I was the one that managed to get closer to the original indicator for the metatrader 4.
Let's the features.
This indicator works as a support and natural resistance of the price, as it has a similarity with the pz supertrend, only on the daily chart.
Range daily High is the gray color and Range daily Low is the red color.
To extract the greatest potential from this indicator, I recommend using forex.
The indicator will be open source for suggestions for improvements.
Trend Surfers - Fix Stoploss PickerThis study include 3 types of stop-loss (ATR, High/Low and Pivot point)
This script aimed to help new traders to respect risk management.
Simply select which stop-loss you would like to use in the settings and the suggested stop-loss will be displayed on the chart for Long and Short positions.
Please let me know in the comment if you would like me to add more indicators for the stop-loss in this script.
Hope you like it!
VWAP-ATR-SSLThis is an experimental idea to transform the original script created by @Fleite28 in a kind of SSL with volatility bands.
@Fleite28 has made all script and he have all credits, I just give him this idea.
I'm using this indicator to confirm:
1-potential bull trend (when you have 2x green lines with support)
2-potential bear trend (2x lines red - resistance)
3-consolidations (inside green support and red resistance).
Try to use this with a Market Profile Volume and some trend lines.
HalfTrendA popular trend indicator based on ATR. Similar to the SuperTrend but uses a different trend's identification logic.
I am publishing a disclosed code without license. Remember that in the future you may see a lot of paid IO scripts called BuySellScalper, Trend Trader Karan, Trend Trader and etc (by other authors) which will be based on this script. I found the same script on Ebay for $10 with a free shipping. Beware, always check and follow one Russian wisdom: "Do not pay for something you can get for free".
MM AverageTrueRangehUllFeatures:
- Powerful 2 calculation used in one. Average True Range Multiplier & Sensitivity.
- Clearly shows trend direction, volatility , momentum & sentiment of any financial market.
- Dynamic stop loss levels formed by the help of average true range calculation which are produce right from the long or short signal and does stretch until the opposite directional signal appears.
- Generates potential long and short trade signals using complex formula of volatility , momentum and trend following.
- ATR calculation method can be changed from normal (ATR) to SMA version true range inside setting by ticking or unticking the input function named “Change ATR Calculation Method?”.
- Long and short signals labels can be turn off/on using “Reveal Long/Short Signals?”. - Background color can be shown/hidden using “Signal-light Show/Hide?”.
- Alert feature available for long and short signals.
Important two main settings of ATRH indicator:
1. ATR Multiplier
o A retail trader should adjust the setting depending on the financial market, instrument and timeframe as per required.
o Basically, higher timeframe has more range in price so ATR multiplier can be set higher.
o ATR multiplier value lower can produce more signals which will be as more trades opportunities but it can also lead to fake signals. 3-5 value is producing reasonable signals in any timeframe either it be lower or it be higher. If a trader by mistake doesn’t set a proper input value then the whole indicator could even function poorly so this setting must be used wisely.
2. Sensitivity
o Sensitivity can be from 0 to 1. It can be also integer or floating-point number example: 0.1, 0.3, 0.8 etc.
o It is used to control the signal generation speed by 3 to 5 candle bars before (if the value is set higher) or after (if the value is set lower) during the time of condition meeting for either long or short signals.
o Depending on any financial market or instrument sensitivity value should be managed well by a trader for his/her needs taking consideration on the nature of that particular financial market or instrument & timeframe.
Use link below or PM us for access you this indicator. Happy Trading
Running Bound based on ATR multiplierThis script basically uses default ATR and then
Multiplies with ATR multiplier (3 for crypto and 2 for forex) - you can change the values from the settings if you like
Adds/subtracts from the current price
And tries to find a bound on both side of price
ATR Compression/expansionThe indicator is used to gauge the short term volatility of the instrument relative to its long term volatility.
The green columns of histogram represent lower short term volatility relative to long term, whereas Red columns of histogram represent Higher short term volatility relative to long term.
Higher the bar higher the strength of the signal.
This indicator is inspired by Matt Caruso's(Canslim Champion investor) chat on Richard Moglen's(Champion trading youtuber) podcast.
ATR Volatility Bars 1.0This script will be featured in upcoming video ideas about catching liquidations spikes in cryptocurrencies.
The script measures the unique size of each bar compared to the Average True Range (ATR) of the evaluation period. The evaluation period can be set in the inputs. The desired benchmark for what will be highlighted is also set in the inputs as a percentage. The default settings are to evaluate the last 26 bars for ATR and highlight bars that are 300% or larger than ATR.
When a bar meets the criteria of the indicator it will show a label and highlight the bar accordingly. The user may select the indicator to only show Buy or Sell opportunities. The indicator has alert functionality.
Elder Force Index With ATR ChannelsInspired by the new version of the "Force Index" announced by Dr. Alexander Elder a few years ago - "Elder Force Index With ATR Channels".
Unfortunately original version of script only works on MetaTrader platforms, so this is an attempt to
implement this great idea on TradingView too.
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Here is original script explanation by Dr. Elder himself
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Adding Average True Range (ATR) channels to Force Index had been suggested by Kerry Lovvorn.
Adding these channels turns Force Index into an excellent tool for identifying intermediate tops and bottoms.
Force Index with ATR channels does not catch all turns, but the ones it identifies deserve very serious attention.
Note: the word “true” in Average True Range refers to dealing with price gaps. Since there are no gaps in Force Index, here ATR is the same as the Average Range.
Whenever the Force Index rises above or falls below its 3-ATR channel, it signals that the ticker has reached an area of an unsustainable extreme.
That’s where rallies and declines become exhausted and prices tend to reverse. This is one of very few tools that are equally efficient in calling both top and bottom areas.
In our experience, these signals work especially well on the weekly charts.
Of course, users are welcome to experiment with them in any timeframe.
One possible option is to use the new Force Index with ATR Channels on your weekly charts and the original Force Index on your daily chart.
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- The Force Index is drawn in blue with a thick line.
- The Averaged Force is a solid red line.
- The upper and lower bands at 1 ATR are drawn in dotted lines.
- The upper and lower bands at 2 ATR use dashed lines.
- The upper and lower bands at 3 ATR are solid gray lines.
- Red dots placed above the plot when the EMA of Force Index rises above the 3-ATR channel.
- Green dots placed underneath the plot when that EMA declines below the 3-ATR channel.
***** Original script programmed to truncate values at the 4-ATR level to prevent any extreme value from flattening the rest of the plot -
- I'm not yet implemented this feature here - hopefully coming soon.
[JRL] ATR Pivot PointsThis indicator plots pivot points with support and resistance lines based on average true range (ATR). ATR is one of the best volatility and trading range predictors, so it can be very useful for finding confluence in any strategy.
Indicator - ATR Profit Loss - DGHi Traders,
This is an on chart indicator that can be used for setting take profit and stop losses very easily using the Average True Range Indicator (ATR). Using a volatility adjusted TP and SL will allow you to set your targets and losses based on market conditions. In the settings, you are able to adjust how much of a multiplier you require depending on your risk tolerance and strategy. For those that follow the NNFX method, the defult settings are preset to 1xATR TP and 1.5xATR SL.
How to use:
- For longs, 'isLong' box must be ticked, for shorts, this box is unticked
- For longs, green line is TP, red line is SL
- For shorts, red line is TP, green line is SL
Regards,
Dillon Grech
EMA ATR Engulfing CandlesThis is good old EMA (Exponential Moving Average) with a twist. The EMA line is surrounded by ATR on either side giving you visibility on how market breadth is working out.
The icing on this cake is in the form of engulfing candle indications. Whenever the engulfing candle happens to be inside the size (that's upper and low ATR area limits around EMA) and the engulfing candle has closed in the appropriate direction, the signal triangle comes up. To understand this...
The signal appears only if one of OHLC price point of engulfed and/or engulfing candles are within upper and lower ATR areas around EMA
When there is a bullish engulfing candle, and the close of the candle is above EMA, a green triangle comes up below the candle
When there is a bearish engulfing candle and the close of the candle is below EMA, a red triangle comes up above the candle
The settings enable you to set the following
Length of EMA (default is 200)
Length of ATR (default is 12)
Resolution of EMA independent of the chart timeframe (default is Daily)
Price type (default is hlc3)
Trade zone width in number of ATRs on either side of EMA (default is 1)
Other settings to adjust display
I have been using this in different timeframes to generate signals and found that it generates pretty good alpha.
Feel free to write to me if you have any ideas that can improve this further or if you wish to discuss how to properly use this.
ATR Stop (Adaptive and Advanced)Hi everyone I am excited to share with you all a tool that has been in a lot of my research lately I and think would greatly benefit everyone.
In the last years I have fallen in love with ATR stoplosses/ stop and reverses. However all the ones offered in the community lacked the features that I wanted to have, so I built them all myself and want to share them with you all today!!!
Assuming that you are already familiar with ATR stops, here is what is new and improved with this version:
1. This script takes anything as an input! As you can see in the chart above I have used an EMA as an input into this script and this greatly smoothed out the results while still allowing for phenomenal entries with minimal whiplash. You can use this tool on anything now, from moving averages to oscillators.
2. Previous scripts were not adaptive, you can now choose how adaptive this script is! Increasing this number allows this ATR stop to follow price when it is running away so you don't have to give back much profit. Likewise it makes sure that the ATR stop slows down when the market is ranging so you wont get randomly stopped out.
3. You can now get it to start at the exact moment you enter your trade! Previous scripts had the ATR stop running forever which wasn't helpful if you only needed it for your own trades. You can now set it to start at the exact time of your trade if that is the only time you need it!
4. Now you can easily get alerts when the ATR stop gets hit.
Hope this helps you all!
ATR Stop [COFUTrading]ATR excluding price spikes for a more correct calculation of average volatility and setting a stop loss.
DTR vs ATR w RVolDTR vs ART along with Relative Volume in Percentage. So if you see RVol as 200% with input length of 10 days, today's volume is 2x compared to past 10 days. It helps if today's volume is already reached 20% or 30% within 30mins of market open, etc.
ALMA PPO with Volume Weighted ATR BandsAlma PPO with a percentile eq and atr bands using volume weighted alma. Volume weighted alma idea from rumpypumpydumpy. All code is from the open source library.
PMax on RSI with Tillson T3Profit Maximizer Indicator on RSI with Tillson T3 Moving Average:
PMax uses ATR calculation inside, for this reason users couldn't manage to use PMax on RSI because RSI indicator doesn't have High and Low values in bars, but ATR needs that values. So I personally calculate RSI in a different way to have High and Low values of RSI wrt price bars.
IMPORTANT:
Because of the sudden movements and divergences on RSI, this indicator must firstly optimized for the charts before using. Optimization can be held by users for the meaningful parameters for each chart.
3 parameters are critical when optimizing:
First: Multiplier
Second: Tillson T3 Length
Third: T3 Volume Factor
Here are some information about Profit Maximizer:
PMax Indicator:
PMax Screener and Strategy:
Institutional PivotsToday I propose a novel idea of plotting pivots, this can be also considered as Value areas/Noise areas.
*What is it?
Its a simple concept of gauging price action with respect to its most time spent in a particular range, this is usually denoted as Value area in the Market profile concept, where that "most" word is represented by 70% of the price action.
*What's different from the Market Profile?
Market profile is dependent on real time price movement to complete to see the value area or noise area to plot a static area, there is always a possibility of it shifting as price may move outside of it, and hence its called "developing value area", till of course session is closed and plot is finalized.
While that method is solid indication of "actual price profile" development, it lacks when it comes to offering traders a more stable view to enable them to make decisions. And therefor, when traders trade MP they are usually limited by the number of trades they can take.
This is the main reason as to why traders prefer to use other methods like Pivots/ORB/Range-breakouts over pure MP charts, even though latter reduces the possibility of wrong estimations of "support/resistance working/holding".
*Why the name Institutional Pivots?
In my research I've found that these Pivots/Value area/Noise area ranges are often the areas watched by the big players who trade breakouts or mean reversion strategies, so while that name may sound dubiously clickbaity, it is indeed intended to represent an observation. I know how that sounds, but you can choose to ignore it if you do not agree or see good results after using it. After all, its free to use for everyone.
*Nomenclature/colors and settings?
Noise area/Value area/Central Pivot area - Designated with Yellow labels, in which NU represents the Upper level and ND represents the Lower level
Targets - Target calculation mechanism is based on " today's price action" and today's Open, D1 and D2 represent down targets for the day and U1 and U2 represent upper targets. Please note that this is independent of the "Noise area/Value area/Central Pivot area", so overlap of levels is possible. AND if overlap happens, that's an indication of more strength at S/R line/area for the price.
One more thing to note here is that if there is formation of the new low or new high in the day, those levels will change as their calculation gets influenced by the same. This is NOT a repaint issue, this is SHIFT/FORMATION OF THE NEW levels and it's an "intended" behavior.
Open and POpen - Open represents open of the time-frame selected and POpen represents previous open of the time-frame.
Lable's starting with "H" are indicating higher Timeframe levels, levels which are same as above.
ATR based targets - When you enable this in settings, you will get target calculation based on ATR (self explanatory)
Full ATR mode - When you enable this option, you will get both Noise area as well as targets based on ATR, please don't forgot to turn off the ATR based targets when you enable this, as they conflict with each other.
I've not kept lines, area plots or even price levels as I feel it's just noise and takes away from the indicators main focus, please don't ask to add them, I'll not.
This is meant as purely educational idea, if you use this to trade, it is at your discretion and responsibility will be yours alone.
Past performance is not assurance of the future performance.
More example chart/s
