OPEN-SOURCE SCRIPT
ATR Channels 1-2-3 + Elder Value Zone V2
This indicator combines volatility-based ATR channels with the Elder value zone to provide a structural view of trend and pullbacks.
It plots a central moving average and three pairs of ATR channels at 1, 2, and 3 times the Average True Range, giving a clear visualization of price extension relative to current volatility. The channels are linear and non-adaptive, serving strictly as a volatility envelope, not as support or resistance levels.
In addition, the indicator plots the Elder fast and slow exponential moving averages (EMA 13 and EMA 26) and highlights the area between them as the Elder value zone. This zone represents the price area where pullbacks occur within an established trend, and where continuation setups are typically evaluated.
The indicator does not generate signals or trading rules. It is designed for contextual analysis, helping to assess trend structure, volatility expansion or contraction, and whether price is extended or trading within a normal corrective range.
It plots a central moving average and three pairs of ATR channels at 1, 2, and 3 times the Average True Range, giving a clear visualization of price extension relative to current volatility. The channels are linear and non-adaptive, serving strictly as a volatility envelope, not as support or resistance levels.
In addition, the indicator plots the Elder fast and slow exponential moving averages (EMA 13 and EMA 26) and highlights the area between them as the Elder value zone. This zone represents the price area where pullbacks occur within an established trend, and where continuation setups are typically evaluated.
The indicator does not generate signals or trading rules. It is designed for contextual analysis, helping to assess trend structure, volatility expansion or contraction, and whether price is extended or trading within a normal corrective range.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.