ATR Channels
An Exponential Moving Average (EMA) with three sets of channel lines each one Average True Range (ATR) apart, above and below the EMA. Fully customizable, you can toggle the EMA and ATR set visibility, line colors, etc.
Inspired by Elder's 'The New Trading For a Living', page 93: "Kerry Lovvorn likes to plot 3 sets of lines around a moving average: at one, two, and three ATRs above and below an EMA. These can be used for setting up entry points and stops, as well as profit targets."
Inspired by Elder's 'The New Trading For a Living', page 93: "Kerry Lovvorn likes to plot 3 sets of lines around a moving average: at one, two, and three ATRs above and below an EMA. These can be used for setting up entry points and stops, as well as profit targets."
Versionshinweise:
- Added optional 2nd EMA
Fixed hide/show lines bug when custom transparency was set in style settings
Updated to Pine Script 4
Versionshinweise:
Added optional 50 period EMA.
Versionshinweise:
Added optional 50 EMA, updated default colors & styles.
Versionshinweise:
Added optional 200 EMA. Changed style of 50 EMA.