ATR SPREAD

This is a comprehensive ATR SPREAD indicator for TradingView that combines volatility monitoring with spread analysis. Here's what it does and why it's useful:
Core Functionality
ATR Progress Tracking:

Monitors how much of the daily ATR (Average True Range) has been "consumed" during the current trading day
Calculates progress from two reference points: day's open and previous day's close
Displays progress as percentages or absolute values
Provides color-coded visual feedback (green → yellow → orange → red) based on ATR consumption levels

Spread Monitoring with Advanced Filtering:

Tracks current market spreads using multiple methods (minute high-low ranges, tick-to-tick differences)
Calculates rolling average spread to establish baseline conditions
Implements sophisticated filtering to exclude anomalous spread readings that could skew analysis

Key Features
Smart Filtering System:

Automatically filters out abnormal spreads during session opens
Excludes spreads that are too large relative to price or ATR
Removes outliers that exceed normal spread multiples
Maintains data quality for accurate analysis

Multi-Level Alert System:

ATR threshold alerts (50%, 80%, 100% consumption)
Customizable warning threshold (default 70%)
Spread expansion warnings and alerts
Session start notifications

Professional Dashboard:

Customizable information panel showing real-time metrics
Multiple positioning options and visual themes
Displays ATR status, progress percentages, current/average spreads
Color-coded status indicators for quick assessment

Trading Applications
Risk Management:

Helps traders understand how much daily volatility has been used up
Assists in position sizing based on remaining expected movement
Identifies periods of unusual market conditions

Market Condition Assessment:

Monitors liquidity conditions through spread analysis
Detects when spreads widen beyond normal levels
Filters out unreliable data during volatile periods

Entry/Exit Timing:

High ATR consumption may suggest limited further movement
Low ATR consumption early in the day might indicate potential for larger moves
Spread conditions help assess execution quality expectations

This indicator is particularly valuable for intraday traders, scalpers, and anyone who needs to monitor market microstructure conditions alongside volatility metrics. It provides a comprehensive view of both price movement potential (ATR) and execution environment quality (spreads) in a single, professional-grade tool.