Multi-Timeframe ATRs

21 nov 2024

This Multi-Timeframe ATR Indicator displays the Average True Range (ATR) values from multiple timeframes on a single chart, allowing traders to assess market volatility across different time periods. The indicator calculates and plots the ATR for the 1-hour, 3-hour, 4-hour, 1-day, and 2-day timeframes, with the option to toggle each timeframe on or off based on user preferences. By visualizing these ATR values, traders can identify potential price movement expectations for various timeframes and better understand how volatility is shifting across the market. This tool is handy for traders who want to gauge volatility over different time periods and incorporate it into their trading strategies.

By evaluating higher timeframes when entering trades, a trader can better understand market conditions. This insight helps the trader make informed decisions about whether to remain in the trade for a longer period.

The indicator is fully customizable, with color-coded plots for each timeframe and optional labels that display the ATR values directly on the chart. It is ideal for traders looking to add volatility insights to their technical analysis without cluttering their charts.

21 nov 2024

Note di rilascio

This Multi-Timeframe ATR Indicator displays the Average True Range (ATR) values from multiple timeframes on a single chart, providing traders with a clear view of market volatility across different time periods. The indicator calculates and plots the ATR for the 1-hour, 3-hour, 4-hour, 1-day, and 2-day timeframes, with the flexibility to toggle each timeframe on or off based on user preferences. By visualizing these ATR values, traders can estimate potential price movement for various timeframes and monitor how volatility evolves in the market. This makes the tool particularly valuable for traders looking to incorporate volatility insights into their strategies without overwhelming their charts.

The Average ATR is calculated dynamically based on the selected timeframes. If all timeframes are enabled, the Average ATR represents the mean of all the plotted ATRs. If only certain timeframes are chosen, the Average ATR reflects the average of those selected, offering tailored insights depending on the trader's focus.

By evaluating higher timeframes when entering trades, traders gain a deeper understanding of broader market conditions. This allows them to make more informed decisions about whether to remain in a trade for a longer period.

With its fully customizable design, including color-coded plots for each timeframe and optional labels that display ATR values directly on the chart, this indicator is an ideal tool for enhancing technical analysis while maintaining a clean and organized chart layout.

22 nov 2024

Note di rilascio

The key change was replacing lookahead = barmerge.lookahead_on with lookahead = barmerge.lookahead_off for each request.security() call. This prevents the indicator from using future price data, eliminating the lookahead bias. Now the ATR calculations will only use historical data available at the time of each bar.

23 nov 2024

Note di rilascio

New update: I added the following 45M, 30M, and 15M ATRs for those wanting to trade on faster timeframes. As before, if these are turned on, they will be included in the Average ATR.