This indicator measures market consolidation and breakout phases by computing a scaled Relative Strength Index (RSI) on normalized price data. It identifies chop zones when the RSI oscillates between 40 and 60, highlighting tight consolidation between 45 and 5
Indicator · Pine Script v5 · Own pane
ATR Breakout
This indicator plots the 100-bar percent rank of ATR in a separate pane and draws a midline at 50.
GitHub stars46on the repository
Pine versionv5runs as is
Lines of code43
Settings6inputs
LicenceNone stated
Last update7 weeks ago4 Sep 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
ATR Breakout colors that midline green, red, or gray by comparing the close with the open a set number of bars earlier against a multiple of ATR across a lookback window. Users can change the ATR period, the multiple, the breakout length, and the lookback. Optional alerts fire when the percent rank crosses above or below the midline. It does not plot price entries, stops, or exits.
- ATR percent rank plot
- Colored midline at 50
- Adjustable ATR multiple and lookback
- Cross above and below alerts
Details
Published by
TamaraKGreen on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Volatility & bands, Breakout
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
File
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| ATR Multiple | float | 4.0 | ATRMultiple |
| Breakout Length | int | 6 | BreakoutLength |
| Lookback | int | 7 | Lookback |
| ATR Period | int | 14 | ATRPeriod |
| Enable Alert for Cross Above midline | bool | true | alertAbove |
| Enable Alert for Cross Below midline | bool | true | alertBelow |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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