EmpoweredTrader

ET-ATR-Price-Overlay

Overlays the Average True Range high/low over Price. Shifts between support and resistance levels (based on ATR-21) according to price trend and breaks.

Average true range: https://en.wikipedia.org/wiki/Average_true_range

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// @EmpoweredTrader
// Overlays ATR high/low over price.  Shifts between support and resistance levels (based on ATR-21) according to trend and breaks.
study(title="ET-ATR-Price-Overlay", shorttitle="ATR Overlay", overlay=true) 
sd = input(true, title="Show ATR?")


atrSeries = iff(na(atrSeries[1]), close + (atr(21)*3), iff(close > atrSeries[1], 
                                                        iff(close[1] < atrSeries[1], close - (atr(21)*3), iff(atrSeries[1] < close - (atr(21)*3), close - (atr(21)*3), atrSeries[1])), 
                                                         iff(close[1] > atrSeries[1], close + (atr(21)*3), iff(atrSeries[1] < close + (atr(21)*3), atrSeries[1], close + (atr(21)*3)))))

plot(atrSeries, title="ATR level",style=circles, color=blue ,linewidth=3)




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