ATR COG (Joy Bangla)

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Notes:

• Black crosses indicate squeeze. It means an impending move once squeeze is released
  
• Price tends to go from red dot to green dot to red dot to green dot to red dot in an endless cycle. We wait for the price bar to not touch the dots before we make a move
• If the price goes between the dots and the lines, it means it is likely overheated/oversold respectively
  
• If the price moves above the top line, it means the market is super overbought
  
• If the price moves below the bottom line, it means the market is super oversold
  
  

This is an updated version 4 script from Lazy Bear's code as found from here

The update is there to ensure we can have alerts successfully set on Trading View

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ملاحظات الأخبار

Title: Advanced ATR COG Indicator

Description:

This Advanced ATR COG (Average True Range Center Of Gravity) Indicator is a sophisticated tool for traders seeking an edge in their technical analysis. The indicator is based on the concept of Center of Gravity (COG) and combines it with Average True Range (ATR) and Standard Deviation concepts to provide a more nuanced view of market behaviour.

Key features:

1. COG (Center of Gravity): The COG line (COG Median STDEV) is calculated by linear regression over a user-defined period. It essentially gives a best-fit line over the specified period and can provide insight into the market's overall trend.

2. STDEV Channel (COG BB+ and COG BB-): This channel is formed by adding/subtracting a user-defined multiple of the standard deviation from the COG line. It may provide potential areas of support and resistance.

3. ATR Channel (COG Starc+ ATR and COG Star- ATR): This channel is formed by adding/subtracting a user-defined multiple of the Average True Range from the COG line. It provides another perspective of volatility and may be used for breakout strategies or to assess risk.

Customization:
Users can customize the source for COG calculation, COG length, COG multiplier, and the top and bottom ATR multipliers better to suit their specific trading strategy or market conditions.

Please note that, like all technical analysis tools, this indicator should be used in conjunction with other forms of analysis and is not meant to provide buy or sell signals.

Always conduct your own analysis and consult a financial advisor before trading.