OPEN-SOURCE SCRIPT
EMA ATR Extension
Helps in identifying the exhaustion of current trend on either side of scale + or -
0 - 1 -> Normal Trend
1 - 1.5 -> Watch Zone
1.5 - 2 -> Stretched
> 2 -> Potential exhaustion - reversal / consolidation but wait for price action confirmation
> 3 -> Rare, often associated with climactic moves
0 - 1 -> Normal Trend
1 - 1.5 -> Watch Zone
1.5 - 2 -> Stretched
> 2 -> Potential exhaustion - reversal / consolidation but wait for price action confirmation
> 3 -> Rare, often associated with climactic moves
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.