DepthHouse ATR Bands is a FREE INDICATOR Similar to the well-known Bollinger Bands. Instead of using the standard deviation formula, ATR Bands determines the size of the bands based on the adjustable average range.
The bands tighten while the markets’ range becomes lower, and widens as its' range becomes broader. Giving the indicator a loaded spring effect. A break outside of the bands in either direction indicates a possible breakout.
All 3 bands serve as possible support and/or resistance. Meaning breaks back into the bands could indicate a reversal, or end of the breakout.
This indicator is completely customizable, so compiling multiple sized bands on top of each other may create a strong competitive edge.
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IF YOU SUBSCRIBED This indicator was intended to be available for purchase Jan 2018. However, with recent change of mind I have decided to make it free to use. IF you previously subscribed. I greatly appreciate your interest and I hope you enjoy this now FREE indicator!
This is one of my favorite visualization tools. Thank you so much for this awesome script. I use it in conjunction with an RSI/MA combo to get multiple visualizations and multiple confirmations of what's going on in the market. Market activity makes SO MUCH MORE SENSE with your script. It's really helped my trading confidence. Thank you so much. I subscribed to you on YouTube as a token of gratitude. Cheers!