Horizontal ATR Lines – Last Candle Only

12 ore fa

This indicator plots four horizontal lines based on the ATR (Average True Range) from the last closed candle of a user-selected timeframe. It helps traders visualize dynamic support and resistance zones relative to recent volatility.

What it does:

Calculates ±1x ATR and ±X ATR levels from the close of the most recently closed candle (e.g., Daily, 4H, etc.).

Draws four horizontal lines:

Close + 1x ATR

Close - 1x ATR

Close + X ATR

Close - X ATR

Each line includes a small label showing the multiplier and the exact price (e.g., "+1 ATR @ 4321.50").

Labels are positioned to the right side of each line for clarity.

Lines and labels update automatically once a new bar forms.

How to use it:

Use these dynamic levels as reference points for:

Volatility-based support/resistance

Entry/exit zones

Risk management

Set the ATR timeframe and multiplier values to match your strategy.

Inputs:

ATR length

Timeframe source for ATR and close

Two multipliers (e.g., 1x and 1.5x)

Custom colors for each ATR group

This tool is best suited for intraday, swing, or multi-timeframe analysis where volatility context is essential.

11 ore fa

Note di rilascio

What it does:

Calculates the Average True Range (ATR) using a customizable period and timeframe.

Plots four horizontal lines:

+1 ATR and –1 ATR from the last closed candle’s close

+X ATR and –X ATR, where X is a second custom multiplier

Each level includes a compact label showing:

The price of the level

The percentage distance from the close price

Use cases:

Identify realistic intraday or swing price movement boundaries

Build volatility-aware take-profit and stop-loss zones

Visually track market compression or expansion in context

Customization:

ATR period and timeframe

Two independent ATR multipliers

Custom color settings for each group of levels

The indicator auto-updates after each candle closes, keeping your chart clean and adaptive to the current volatility environment.

11 ore fa

Note di rilascio

What a script does:

Calculates the Average True Range (ATR) using a customizable period and timeframe.

Plots four horizontal lines:

+1 ATR and –1 ATR from the last closed candle’s close

+X ATR and –X ATR, where X is a second custom multiplier

Each level includes a compact label showing:

The price of the level

The percentage distance from the close price

Use cases:

Identify realistic intraday or swing price movement boundaries

Build volatility-aware take-profit and stop-loss zones

Visually track market compression or expansion in context

Customization:

ATR period and timeframe

Two independent ATR multipliers

Custom color settings for each group of levels

The indicator auto-updates after each candle closes, keeping your chart clean and adaptive to the current volatility environment.

Disclaimer:
This script was generated using OpenAI’s ChatGPT. I take no responsibility for the correctness, performance, or financial impact of this indicator. Use it at your own risk and discretion.