Koalems

Fusion: ATR Ranging

Koalems Updated   
A simple way to determine a ranging market.

The defaults are for a specific use of my own so by no means feel a need to use them, adjust as needed.

By default this sits on the main chart however if you want to see the lines behind the result make a copy and put the copy on it's own chart and then just flip the "show" flags.

The is no reason for using the Hull MA over any other except that it's a preference of mine, that is, it's not for some magical reason I figured out. That said, the Hull is perhaps my favorite because of what I learned about after quite a bit of research so take that as you will.

There's no one indicator I borrowed from so credit to both:
  • Hull Suite by InSilico
  • Average True Range by S6thSense

The code is structured to easily drop into bigger system so use as a lone indicator or add to some bigger project you are creating.

Finally, if you find value please do make a comment, give thumbs up etc.

Enjoy and good luck!
Release Notes:
Removed an unnecessary line of code.
Release Notes:
Added scaling factor which makes this "tunable" which was much needed.
Added more MA types.
Release Notes:
Visual fix when not on main chart.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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