An Exponential Moving Average (EMA) with three sets of channel lines each one Average True Range (ATR) apart, above and below the EMA. Fully customizable, you can toggle the EMA and ATR set visibility, line colors, etc.
Inspired by Elder's 'The New Trading For a Living', page 93: "Kerry Lovvorn likes to plot 3 sets of lines around a moving average: at one, two, and three ATRs above and below an EMA. These can be used for setting up entry points and stops, as well as profit targets."
ملاحظات الأخبار
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Added optional 2nd EMA Fixed hide/show lines bug when custom transparency was set in style settings Updated to Pine Script 4
ملاحظات الأخبار
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Added optional 50 period EMA.
ملاحظات الأخبار
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Added optional 50 EMA, updated default colors & styles.
By far, the best ATR indicator. Only wish it was MTF.
Bull_Bear003
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Very good indicator!
However, is it possible to have ATR smoothing options available? For example, I’d like to change the ATR smoothing method from Wilder’s (the default as seen in the code) to Exponential method.
westdubs
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Thank you :)
9yue7hao14
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Is anyone can convert it to ThinkOrSwim scripts? Thanks, in advanced.