smartforexlearning

SFL Daily ATR levels

An indicator that plots the daily ATR upper and lower levels on a chart.
This is a TradingView re-write from Trader Dante's dATR indicator.
Release Notes: Added a new indicator setting to only show the ATR levels for the current day.
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Comments

Thanks for this! Was looking everywhere for it. Could you enable the option to display only the current day ATR?
+4 Reply
smartforexlearning BitcoinBreakfast
@BitcoinBreakfast, thanks for your kind words! I've just added this option.
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Hi thank you so much! I was wondering why I dont see the ATR levels move during the day? Based on my understanding the ATR levels are based on the CURRENT day low and high, so if the low(high) of the current day gets lower (higher), than the ATR level should automatically adjust during the day no? Thanks!
+4 Reply
smartforexlearning CryptoCrabbie
@CryptoCrabbie, thanks for your kind words and happy that you like it! The price levels do move but only if new highs or lows have been made, since those are used to calculate the levels. The daily ATR value is actually the one from one day ago, not the current day.
+1 Reply
CryptoCrabbie smartforexlearning
@smartforexlearning Wow what a quick response :) Then the replay function of tradingview maybe causes some bugs, as I didn't see the ATR levels move during my replay of the day. Sorry for taking your time, thanks!
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smartforexlearning CryptoCrabbie
@CryptoCrabbie that's a good thing for me to investigate, actually. I'll have a look and will see if I can update the indicator to support bar replay (which I'm not sure about but I'll check) :-)
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Thanks for scripting this, super helpful SFL.

I have an observation / question for your consideration please. If I take a 20 day ATR from the the day before's candle, and then deduct that ATR from today's high, I am not getting the same reading as this indicator. I have done several manual checks and it's always a few pips out.

My maths on the manual calculations I am doing:

Yesterday’s 20 day period ATR deducted from the current days high = lower ATR
Yesterday’s 20 day period ATR added to current days low = upper ATR

it's only a few pips, but I'm scratching my head to see where I am going wrong. If you wouldn't mind taking a moment to check my logic please I would be most grateful.

Many Thanks
+2 Reply
The indicator is amazing thanks. Not sure if you still follow Tom? We now also look at the weekly open price and I would like to look at the daily open. Im drawing the weekly manually no biggy, Moving the daily each day is more of a pain. I found a basic script but nowhere can I find how to only draw the levels for the current day. The show_last feature clearly needs a different set of parameters, or is there a different way? Yours is the only indy that has an option to show current day, but its protected. Are you able to help?
+1 Reply
Thank you
+1 Reply
Does anyone find that the ATR Levels change throughout the day?
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