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ATR, one of the most important indicators for measuring volatility, is available as a standard tool on TradingView. However, I have created an indicator that also displays a moving average of ATR at the same time.

This indicator is designed to be used primarily on daily charts. The ATR calculation period is set to 14 by default, and regardless of the chart timeframe, the indicator is configured by default to display weekly ATR. Both the ATR period and the moving average period can be customized by the user.

By using this weekly ATR, it becomes possible to quantitatively track changes in volatility on a daily chart. In particular, this indicator is effective for identifying Mark Minervini’s VCP (Volatility Contraction Pattern).

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