ATR Daily Levels Band Nakitxu

Average True Range

What Is the Average True Range (ATR)?
The average true range (ATR) is a technical analysis indicator, that measures market volatility by decomposing the entire range of an asset price for that period.

The true range indicator is taken as the greatest of the following: current high less the current low; the absolute value of the current high less the previous close; and the absolute value of the current low less the previous close.
The ATR is then a moving average, generally using 14 days, of the true ranges.

This script is an especial request of a TradingView user.
Shows 5 levels based on ATR daily, plotted in wherever timeframe you are using:

level 1: prv day ATR + prv day close
level 2: prv day ATR + prv day high
level 3: level 2 - prv day ATR
level 4: prv day close - prv day ATR
level 5: prv day low - prv day

Only show the levels if you are in a timeframe daily or lower than daily.

เอกสารเผยแพร่:

- Converted to Pine Script Version 5
- Added 2 fills (as requested by a user of the indicator), one between L1 level and daily open, other between L4 and daily open

เอกสารเผยแพร่:

- Changed the fills, to "halfway"

เอกสารเผยแพร่:

Added Level 6 plot: current day open