OPEN-SOURCE SCRIPT
Updated Smart Dynamic Levels [ATR-Based]
Smart Dynamic Levels [ATR-Based]
Automated Support & Resistance Levels Based on Market Volatility
Overview:
This advanced indicator automatically plots dynamic support and resistance levels based on the Average True Range (ATR), creating meaningful price zones that adapt to changing market conditions. Unlike static round-number levels, these volatility-adjusted zones provide more relevant technical reference points.
Key Features:
Volatility-Responsive: Levels automatically adjust based on the asset's ATR
Smart Visualization:
Color gradient shows strength of each level (darker = stronger)
Bullish (green) levels below price, bearish (red) levels above
Customizable Settings:
Adjust ATR length (14-period default)
Modify level sensitivity with ATR multiplier (1.5x default)
Choose number of levels to display (5 above/below default)
Toggle labels and line extensions
How It Works:
Calculates the asset's true volatility using ATR
Rounds to significant price intervals based on current volatility
Plots equidistant levels above and below current price
Colors levels based on their position relative to price
Automatically updates as market conditions change
Recommended Use:
Day Trading: Identify intraday support/resistance zones
Swing Trading: Spot potential reversal areas
Breakout Trading: Watch for moves beyond key levels
Works on all markets: Stocks, Forex, Crypto, Futures
Settings Guide:
ATR Length: Higher values for smoother levels (14-20)
Multiplier: Increase for wider levels (1.5-3x)
Levels Count: More levels for higher timeframes (3-10)
Pro Tips:
Combine with trend analysis - levels are more significant when aligned with trend
Watch for price reactions at these levels for confirmation
Use wider levels (higher multiplier) for volatile assets
Automated Support & Resistance Levels Based on Market Volatility
Overview:
This advanced indicator automatically plots dynamic support and resistance levels based on the Average True Range (ATR), creating meaningful price zones that adapt to changing market conditions. Unlike static round-number levels, these volatility-adjusted zones provide more relevant technical reference points.
Key Features:
Volatility-Responsive: Levels automatically adjust based on the asset's ATR
Smart Visualization:
Color gradient shows strength of each level (darker = stronger)
Bullish (green) levels below price, bearish (red) levels above
Customizable Settings:
Adjust ATR length (14-period default)
Modify level sensitivity with ATR multiplier (1.5x default)
Choose number of levels to display (5 above/below default)
Toggle labels and line extensions
How It Works:
Calculates the asset's true volatility using ATR
Rounds to significant price intervals based on current volatility
Plots equidistant levels above and below current price
Colors levels based on their position relative to price
Automatically updates as market conditions change
Recommended Use:
Day Trading: Identify intraday support/resistance zones
Swing Trading: Spot potential reversal areas
Breakout Trading: Watch for moves beyond key levels
Works on all markets: Stocks, Forex, Crypto, Futures
Settings Guide:
ATR Length: Higher values for smoother levels (14-20)
Multiplier: Increase for wider levels (1.5-3x)
Levels Count: More levels for higher timeframes (3-10)
Pro Tips:
Combine with trend analysis - levels are more significant when aligned with trend
Watch for price reactions at these levels for confirmation
Use wider levels (higher multiplier) for volatile assets
Release Notes
Smart Dynamic Levels [ATR-Based]Automated Support & Resistance Levels Based on Market Volatility
Overview:
This advanced indicator automatically plots dynamic support and resistance levels based on the Average True Range (ATR), creating meaningful price zones that adapt to changing market conditions. Unlike static round-number levels, these volatility-adjusted zones provide more relevant technical reference points.
Key Features:
Volatility-Responsive: Levels automatically adjust based on the asset's ATR
Smart Visualization:
Color gradient shows strength of each level (darker = stronger)
Bullish (green) levels below price, bearish (red) levels above
Customizable Settings:
Adjust ATR length (14-period default)
Modify level sensitivity with ATR multiplier (1.5x default)
Choose number of levels to display (5 above/below default)
Toggle labels and line extensions
How It Works:
Calculates the asset's true volatility using ATR
Rounds to significant price intervals based on current volatility
Plots equidistant levels above and below current price
Colors levels based on their position relative to price
Automatically updates as market conditions change
Recommended Use:
Day Trading: Identify intraday support/resistance zones
Swing Trading: Spot potential reversal areas
Breakout Trading: Watch for moves beyond key levels
Works on all markets: Stocks, Forex, Crypto, Futures
Settings Guide:
ATR Length: Higher values for smoother levels (14-20)
Multiplier: Increase for wider levels (1.5-3x)
Levels Count: More levels for higher timeframes (3-10)
Pro Tips:
Combine with trend analysis - levels are more significant when aligned with trend
Watch for price reactions at these levels for confirmation
Use wider levels (higher multiplier) for volatile assets
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.