Daily ATR 2 and 10 Percent Value
This indicator shows three values: the main ATR value, a 2% value,
and a 10% Value of the Daily ATR.
After you have added the indicator to your chart, follow these steps
to be able to see the values and labels on the right.
1. Right-click on the price level bar or click the gear icon at the bottom
2. Click on LABELS
3. Select with a check mark the following two
INDICATORS AND FINANCIAL NAME LABELS
and INDICATORS AND FINANCIAL VALUE LABELS
4. Look for D-ATR % Value, click on the gear icon and verify these settings
- D-ATR Lenght = 14
- ATR Lenght = 14
- Smoothing = RMA
- Timeframe = 1 Day
5. Select Wait for timeframe closes
6. Click on Defaults, Save as default, and click ok.
You can move the indicator to the top of your chart if preferred, by clicking
on Move pane up.
Slightly modifications from other indicators.
Dailyatr
ATR Daily LevelsPlots the daily ATR on the chart as upper and lower levels.
It can be use to adapt your trading in high and low periods of market volatility, determine reasonable target or take profit, entry at likely mean reversion, stop loss beyond normal flows etc...
More on the script behavior:
- Daily ATR upper/lower levels are applied on the current day low/high;
- The ATR value is defined by the last D1 bar;
- Shows up to D1 timeframe;
- Configuration for the indicator's period (default: 20 period ATR);
- Configuration for plotting the indicator on the the x axis with an offset/at begining of the day (default: offset);
