Multi ATR Volatility Bands Cockpit

Multi ATR Volatility Bands Cockpit

Multi ATR Volatility Bands Cockpit is a read-only volatility context indicator designed to describe how volatile the market is and where price currently sits within that volatility, using an EMA anchor and multiple ATR-based envelopes.

This tool does not generate trade signals or place orders. It is intended to support situational awareness and contextual analysis across symbols and timeframes.

What this indicator shows

Volatility Regime
Classifies current volatility using ATR as a percentage of price (e.g., Quiet, Normal, Volatile, Extreme).

Envelope Structure
Uses multiple ATR envelopes around an EMA to visualize typical, elevated, and extreme volatility ranges.

Price Location
Describes where price is relative to the envelopes (inside, outside, or beyond typical ranges).

Plain-Language Context
A concise, non-actionable explanation of the current volatility environment.

What makes this indicator unique

Unlike traditional band indicators that require interpretation from the chart alone, this script includes a Volatility “Cockpit” panel that summarizes volatility conditions in a clear, structured, and descriptive format.

The cockpit:

Translates raw volatility metrics into labeled regimes

Separates context from decision-making

Is designed to reduce interpretation ambiguity rather than generate signals

This makes the indicator suitable as a context layer alongside other analysis tools, rather than a standalone decision engine.

Display modes

Cockpit (Minimal)
Clean overlay with the EMA, outer envelope, and informational panel.

Bands (Detail)
Full ATR band stack with optional fills for deeper inspection of volatility structure.

Important notes

Indicator only — no trade execution, no buy/sell signals, no alerts

All calculations are based on confirmed historical bar data

No lookahead logic is used

Results vary by symbol, timeframe, and parameter selection

Intended use

This indicator is designed for traders and analysts who want to understand volatility conditions before making decisions elsewhere, not for generating entries or exits on its own.