MTF ATR Reversal Levels

15 set 2021

This is a Multitple TimeFrame Swingarm system borrowing from the Blackflag FTS indicator.

This throws up 5 resolutions of ATR thresholds, only showing the current bar level using a horizontal line across the full chart. I don't like the historical information charted, just need to know the current level for my trading purposes.

It will also give Sell/Buy alerts when the closing price exceeds one of those thresholds... essentially confirmation of a trend reversal.

On the primary resolution (defaulted to the current timeframe of the chart) it can show the fibonacci reversal levels using the ATR levels for that time resolution. This is if for the current trend.


I find it useful, so I thought I would share. Like all indicators, it'll work as long as you stick with a system, and let it work. :)

17 set 2021

Note di rilascio

I made some updates to this.

First, corrected a resolution issue causing some inaccurate info between different TF charts. When going UP in timeframe period those periods above the chart timeframe will be consistent now. Due to how the security function works, LOWER timeframe periods will be different unless the bar time is the same for both periods... at least, that's my interpretation.

I added an "ATR Alert Threshold." I use this to trigger alerts only when the current True Range exceeds the Average True Range of the period. This is configurable, so if you want to see anything, just make it zero. I use 1.1, which essentially means the current bar true range needs to exceed the average true range by 10%. This better confirmation for me to enter a trade. Not using a threshold results in more false alerts, due to while I frame as average convergency creep.

Lastly, changed up some visuals and added the TR to ATR ratio to the label. Helps me to decide if I will get in a trade early, i.e. the reversal level is crossed, we're only 50% through the bar's time resolution, but the TR:ATR ratio is in excess of 1.5 or so. I don't alert until close of bar, but if something moves that much, I may ponder early entry.

Enjoy.