ATR Price Targets (Daily, Weekly, Monthly)

vor 7 TagenThis indicator calculates and displays dynamic price targets based on the Average True Range (ATR) for daily, weekly, and monthly timeframes. It’s designed to help traders set volatility-based price targets for more precise stop-losses, take-profit levels, and trade management.

Features:

• Daily, Weekly, and Monthly ATR Targets: Automatically calculates and plots upper and lower price targets based on ATR values for each timeframe.
  
• Risk Management Tool: Ideal for setting stop-loss and take-profit levels based on market volatility.
  
• Customizable Settings: You can adjust the ATR length and multiplier to match your preferred trading style and risk tolerance.
  
• Visual Alerts: Background colors change when price reaches or exceeds the calculated targets, providing easy visual cues for decision-making.
  

How to Use:

• Use the upper and lower price targets to set realistic exit points for your trades.
  
• Adjust the ATR multiplier for more or less conservative targets based on market volatility.
  
• Apply this across multiple timeframes to combine long-term and short-term volatility trends.
  

This indicator is perfect for traders looking to incorporate volatility analysis into their trading strategy using ATR.

vor 6 Tagen

Versionshinweise

# ATR Price Targets (Daily, Weekly, Monthly)

This indicator calculates and displays dynamic price targets based on the **Average True Range (ATR)** for daily, weekly, and monthly timeframes. It also incorporates **static background alerts** to visually notify you when the price crosses ATR-based targets, helping traders manage stop-losses, take-profit levels, and volatility-based trading decisions.

## Key Features:
1. **Dynamic Price Targets**:
Calculates and plots the upper and lower price targets based on the current ATR for daily, weekly, and monthly timeframes. These targets adjust with each new price bar to reflect the latest market conditions.

2. **Static Background Alerts**:
Provides visual background alerts when the price crosses pre-calculated price targets based on the previous period's close (daily, weekly, and monthly). This ensures that you are alerted to significant price movements within a period.

3. **Customizable Settings**:
Allows you to modify the ATR length and multiplier, so you can tailor the price targets to match your trading strategy and volatility tolerance.

4. **Visual Alerts for Price Movements**:
The background color changes when the price hits or surpasses the static price targets:
- **Green** for surpassing the daily upper target.
- **Red** for hitting the daily lower target.
- **Blue** for exceeding the weekly upper target, **purple** for the weekly lower.
- **Orange** for reaching the monthly upper target, **yellow** for the monthly lower.

## How to Use:
1. **Dynamic Price Targets**:
Use these to manage and adjust trading entries and exits based on current market volatility. Ideal for day traders, swing traders, and long-term traders alike.

2. **Background Alerts**:
Visually monitor when price movements hit volatility-based targets. These static alerts are calculated at the start of the day, week, or month and stay fixed throughout the period.

This indicator is perfect for traders who want to incorporate multi-timeframe volatility analysis into their trading strategy, providing both real-time price targets and static alerts for enhanced decision-making.

vor 6 Tagen

Versionshinweise

New Feature: Static Background Alerts

The indicator now includes static background alerts based on the previous period's closing price. The background color will change when the price crosses pre-calculated static ATR-based targets, helping traders quickly identify significant price movements within different timeframes:

• Green: When the price surpasses the daily upper target.
  
• Red: When the price hits the daily lower target.
  
• Blue: When the price exceeds the weekly upper target.
  
• Purple: When the price hits the weekly lower target.
  
• Orange: When the price reaches the monthly upper target.
  
• Yellow: When the price hits the monthly lower target.