Daily ATR Targets
What it is.** Daily ATR Targets is a Pine Script v6 overlay for TradingView. It takes the daily average true range of the symbol, such as BTCUSDT, and draws price targets on every chart timeframe from one minute up to one day.
**How the ATR is calculated.** You pick one of four methods in the settings. The first is the classic Wilder ATR. The second is a simple average of the true range. The third is your own idea: the average of the absolute difference between close and open over the chosen number of days. The fourth is the average of high minus low. The default period is 14 days. The value comes from completed days only, so it doesn't repaint and the levels stay fixed through the day.
**The levels on the chart.** The script picks an anchor price, either today's open or yesterday's close. From that anchor it draws targets above and below at 0.5, 1.0 and 1.5 times the daily ATR. You can change the multipliers, colors and visibility. It also plots orange dots at the day's low plus ATR and the day's high minus ATR, which show the remaining move if the day has already set an extreme.
**The table.** The table shows the ATR value in price and in percent, the method and period, and the anchor price. It also shows the upside and downside targets at one ATR. Beyond that, it shows how much of the daily ATR the price has already used today, the day's high-to-low range, and the move from the open. The last rows show the distance left to each target, how often in the last 30 days the daily range exceeded the ATR, whether volatility is rising or falling against five days ago, and the ATR from the other three methods.
**Alerts.** You can set alerts for price reaching plus or minus one ATR from the anchor. Each fires once per day.
**How to use it.** If the price has used 80 to 100 percent of the daily ATR, further movement in the same direction becomes less likely, and traders often look for profit-taking or a pullback. If it has used less than half and momentum is strong, there is room to run toward the one-ATR level.
**Where the script is.** The single-block English version with the table is in the document called Daily ATR Targets, full script, English, one block. This voice connection doesn't give me the link, so please open it from your chat above. This is not trading advice, and any decision is yours.
**How the ATR is calculated.** You pick one of four methods in the settings. The first is the classic Wilder ATR. The second is a simple average of the true range. The third is your own idea: the average of the absolute difference between close and open over the chosen number of days. The fourth is the average of high minus low. The default period is 14 days. The value comes from completed days only, so it doesn't repaint and the levels stay fixed through the day.
**The levels on the chart.** The script picks an anchor price, either today's open or yesterday's close. From that anchor it draws targets above and below at 0.5, 1.0 and 1.5 times the daily ATR. You can change the multipliers, colors and visibility. It also plots orange dots at the day's low plus ATR and the day's high minus ATR, which show the remaining move if the day has already set an extreme.
**The table.** The table shows the ATR value in price and in percent, the method and period, and the anchor price. It also shows the upside and downside targets at one ATR. Beyond that, it shows how much of the daily ATR the price has already used today, the day's high-to-low range, and the move from the open. The last rows show the distance left to each target, how often in the last 30 days the daily range exceeded the ATR, whether volatility is rising or falling against five days ago, and the ATR from the other three methods.
**Alerts.** You can set alerts for price reaching plus or minus one ATR from the anchor. Each fires once per day.
**How to use it.** If the price has used 80 to 100 percent of the daily ATR, further movement in the same direction becomes less likely, and traders often look for profit-taking or a pullback. If it has used less than half and momentum is strong, there is room to run toward the one-ATR level.
**Where the script is.** The single-block English version with the table is in the document called Daily ATR Targets, full script, English, one block. This voice connection doesn't give me the link, so please open it from your chat above. This is not trading advice, and any decision is yours.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.