Average True Range V2: Free TradingView Indicator (Pine Script)

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

Drawn in a separate pane, it offers options to wait for bar confirmation before updating values and can invert the ATR scale. The script also draws a horizontal level line at the current ATR value across the chart. User settings control the ATR calculation period, smoothing type, scale inversion, and visual display options for level lines and extreme markers.

Multiple smoothing methods including RMA, SMA, EMA, and WMA
Bar confirmation setting to delay ATR updating until candle close
Scale inversion feature to multiply ATR values by negative one
Horizontal line display tracking current ATR level
Visual customization for 3-day and 7-day extreme markers

Details

Published by

eddiebelaval on GitHub

Type

Indicator, Pine Script v6

Draws

Separate pane below the chart

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

pinescript/volatility/average-true-range-v2.pine

Repository

github.com/eddiebelaval/openclaw-tradingview. See its other scripts in the library

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Length	`int`	`14`	`length`
Smoothing	`string`	`RMA`	`smoothing`
Wait for period end before updating	`bool`	`true`	`waitClose`
Flip scale (invert ATR)	`bool`	`false`	`flipScale`
Show current value horizontal line	`bool`	`true`	`showHLine`
Horizontal line color	`color`	`color.new(#B71C1C, 0)`	`hLineColor`
Horizontal line style	`string`	`Solid`	`hLineStyle`
Horizontal line width	`int`	`1`	`hLineWidth`
Show 3-day low marker	`bool`	`true`	`show3DayLow`
3-day low color	`color`	`color.new(#FF9800, 0)`	`low3DayColor`
3-day low style	`string`	`Circle`	`low3DayStyle`
Show 3-day high marker	`bool`	`true`	`show3DayHigh`

Show all 20 settings

Setting	Type	Default	Variable
3-day high color	`color`	`color.new(#4CAF50, 0)`	`high3DayColor`
3-day high style	`string`	`Circle`	`high3DayStyle`
Show 7-day low marker	`bool`	`true`	`show7DayLow`
7-day low color	`color`	`color.new(#FF5722, 0)`	`low7DayColor`
7-day low style	`string`	`Circle`	`low7DayStyle`
Show 7-day high marker	`bool`	`true`	`show7DayHigh`
7-day high color	`color`	`color.new(#2196F3, 0)`	`high7DayColor`
7-day high style	`string`	`Circle`	`high7DayStyle`

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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