Another attempt to centering the price and measuring its derivative value, this time within its ATR with 3 different multipliers. You can play with this multipliers to change the way you can take signals on contrarian trades.

ma = exponentialaverage[length](close)
myrange = range[length]
rangema = exponentialaverage[atrlen](myrange)

up1 = ma + rangema * mult1
up2 = ma + rangema * mult2
up3 = ma + rangema * mult3

dn1 = ma - rangema * mult1
dn2 = ma - rangema * mult2
dn3 = ma - rangema * mult3

RETURN ma, up1 COLOURED(202,255,112),up2 COLOURED(202,255,112),up3 COLOURED(202,255,112),dn1 COLOURED(255,127,80),dn2 COLOURED(255,127,80),dn3 COLOURED(255,127,80)

Download

Filename: Multiple-ATR-bands.itf

Downloads: 450

Nicolas Master

I created ProRealCode because I believe in the power of shared knowledge. I spend my time coding new tools and helping members solve complex problems. If you are stuck on a code or need a fresh perspective on a strategy, I am always willing to help. Welcome to the community!

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