ATR Break on chart

EURO / U.S. DOLLARICE

描述

⋅ Apr 28, 2021 10:26 PM

This script is putting one of my old trading method, ATR Break, on chart.

It used to win many times in Dukascopy strategy contest a few years ago.

Pine script is quite easy to learn and very powerful. So I coded it to have a quick view for ATR break on chart.

The rule is simple:

- Current close - open / Previous ATR(5) > alertlevel (1.2), long signal
- Current open - close / Previous ATR(5) > alertlevel (1.2), short signal

The script will display label on the chart with the value of abs(close - open) / Previous ATR(5) to feel the strength.

I used to use the method on 5-min even 1-min chart. SL for 200 points and TP for 5-10 points

Average True Range (ATR)

cultivateforex

⋅ May 9, 2022 8:22 AM

Hi, love your work - this is great for my strategy! Probably my favourite indicator on here to be honest! I'm not much use on PineScript, do you know a way/would you be willing to add alerts to this Indicator?