OPEN-SOURCE SCRIPT
ATR Squeeze Identifier + Last-Bar TR Stops
1) Paints two lines based on previous bar's true range, has option for custom multiplier to make stop a factor of previous bar's TR. Used for quick identification of stop loss placement based on previous bar set-ups.
2) Identifies bar on close which has true range that is smaller than a period-chosen ATR criteria. Additionally, has an input for a raw "ATR Shave" which is used to narrow down bars with even smaller true range. Mostly used to identify potential entry zones where market is being squeezed, and expansion is likely to follow. Plots a character under the bar.
3) Identifies a close which includes and follows 5 consecutive closes which all exhibit smaller than average ATR. Includes customize-able ATR length and "ATR Shave" to narrow down tighter range's. Paints circle at bottom of chart. Mostly used to identify when market has been 'quiet' for some time and entries should be considered for likely expansion.
2) Identifies bar on close which has true range that is smaller than a period-chosen ATR criteria. Additionally, has an input for a raw "ATR Shave" which is used to narrow down bars with even smaller true range. Mostly used to identify potential entry zones where market is being squeezed, and expansion is likely to follow. Plots a character under the bar.
3) Identifies a close which includes and follows 5 consecutive closes which all exhibit smaller than average ATR. Includes customize-able ATR length and "ATR Shave" to narrow down tighter range's. Paints circle at bottom of chart. Mostly used to identify when market has been 'quiet' for some time and entries should be considered for likely expansion.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.
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