OPEN-SOURCE SCRIPT
ATR Breakout Engine
Same multi-timeframe idea as the ATR Bands, except this one's a signal tool, not just lines. It builds a session reference and an ATR for the 1m, 5m, and 15m, works out a breakout level for each, and fires an arrow when 1-minute price crosses one. When a few timeframes break together you've usually got something with legs. It doesn't place orders, so pair it with the strategy version if you want the backtest numbers. Set the session timezone to your cash open. It uses higher-timeframe requests, so confirm the live behavior matches the history.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.