OPEN-SOURCE SCRIPT
Channel MA-ATR based

Draws a channel based on 200h moving avarage.
Channel bounds are based on a weighted day`s ATR.
A price is usually not exceeds a channel`s 2 bounds (red color) for a much points, especially during a trend.
A channel 1 (yellow color) is optional and may be used as an estimated landmark level during consolidations.
The script`s parameters are optmized for EUR/USD. You may customize parameters and use any other tickers.
Channel bounds are based on a weighted day`s ATR.
A price is usually not exceeds a channel`s 2 bounds (red color) for a much points, especially during a trend.
A channel 1 (yellow color) is optional and may be used as an estimated landmark level during consolidations.
The script`s parameters are optmized for EUR/USD. You may customize parameters and use any other tickers.
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.