OPEN-SOURCE SCRIPT

Horizontal ATR Lines

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Disclaimer:
This script was generated using OpenAI’s ChatGPT. I take no responsibility for the correctness, performance, or financial impact of this indicator. Use it at your own risk and discretion.

This indicator draws horizontal ATR-based levels from the last closed candle on a user-selected timeframe. It is designed for traders who want to visualize realistic volatility zones for setting dynamic support/resistance, take-profit, or stop-loss levels.

What it does:

Calculates the Average True Range (ATR) using a customizable period and timeframe.

Plots four horizontal lines:

+1 ATR and –1 ATR from the last closed candle’s close

+X ATR and –X ATR, where X is a second custom multiplier

Each level includes a compact label showing:

The price of the level

The percentage distance from the close price

Use cases:

Identify realistic intraday or swing price movement boundaries

Build volatility-aware take-profit and stop-loss zones

Visually track market compression or expansion in context

Customization:

ATR period and timeframe

Two independent ATR multipliers

Custom color settings for each group of levels

Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.