BASELINE + ATR CHECKER BANDS
This script shows the Ichimoku Baseline and ATR Bands.
Inspired by VP's algorithm this indicator tell you if you can open a trade or not.
How to use:
If a long/short candle cross the baseline and its close is higher/lower the ATR bands DO NOT TAKE the trade, otherwise feel free to enter.
Input variables:
How to install:
Add this indicator to your chart and pin it to the Right Scale (A)
Inspired by VP's algorithm this indicator tell you if you can open a trade or not.
How to use:
If a long/short candle cross the baseline and its close is higher/lower the ATR bands DO NOT TAKE the trade, otherwise feel free to enter.
Input variables:
- Baseline Period (26 is default)
- ATR Period (14 is default)
- ATR safe zone bands multiplier (default is ATR*1)
How to install:
Add this indicator to your chart and pin it to the Right Scale (A)