For example, you can see the daily upper and lower ATR levels whilst on a 15-minute chart. The upper and lower ranges will update as price moves.
Why would this be useful?
It the true price range on average does not move more than x pips/points, then the range boundaries might provide levels as price approaches the levels. Additionally, you can use this tool to easily identify how volatile price action has been in comparison to previous periods.
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact BacktestRookies for more information, or follow the author's instructions below.
TradingView does not suggest paying for a script and using it until you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Public Library.
Warning: please read before requesting access.