Chad's Average True Range ATR (@tradeprophet) calculates upper and lower ATR levels along with outer ATR band lines using a configurable multiplier. Dynamic horizontal lines and labels are rendered directly on the chart to identify key daily volatility bounds. Users can adjust the ATR length, outer multiplier, and toggle line displays. Note that the script uses daily security calls in Pine Script v4 without disabling lookahead, which introduces lookahead bias on historical bars.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Period
int
20
period
Show Outer Plot?
bool
false
isOuterPlotShown
Show Outer Band Lines?
bool
true
isOuterBandLinesShown
Show ATR Lines?
bool
true
isATRLinesShown
Outer Multiplier
int
2
outerMultiplier
ATR Period
int
20
atrPeriod
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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