Live 1H ATR(1) & ATR(5) on Lower Timeframes

Synthetic 1-Hour ATR Indicator (on lower timeframe charts)

Reconstructs 1-hour candles on any lower timeframe (like 5m or 15m):

Tracks open, high, low, close for the current 1-hour period.

Updates high and low live as new lower timeframe bars arrive.

Tracks completed 1-hour True Ranges (TRs):

Stores TRs of past 1-hour bars in an array (tr_hist).

Keeps the last 50 completed hourly TRs for ATR calculation.

Computes the current (live) TR:

Calculates the TR of the in-progress 1-hour candle relative to the last completed hour’s close.

Updates on every lower timeframe bar, so ATR values reflect live volatility.

Calculates ATR(1) and ATR(5):

ATR(1) = most recent TR (current hour).

ATR(5) = average of the last 5 TRs (current + last 4 completed hours).

Plots ATR lines in a separate indicator pane:

Green line = ATR(1)

Orange line = ATR(5)

Background coloring for volatility detection:

Checks New York time using timestamp("America/New_York", ...).

Between 09:20 and 09:30 NY time, calculates ATR ratio = ATR(1)/ATR(5).

Turns the background red if ATR(1) is ≤ 65% or ≥ 165% of ATR(5).

Semi-transparent red (opacity=80) so it doesn’t block the chart.

Designed for lower timeframe charts:

Allows you to read 1-hour ATRs on a 5m chart.

Works live, updating with every lower timeframe bar.