It can be use to adapt your trading in high and low periods of market , determine reasonable target or take profit, entry at likely mean reversion, stop loss beyond normal flows etc...
More on the script behavior:
- Daily ATR upper/lower levels are applied on the current day low/high;
- The ATR value is defined by the last D1 bar;
- Shows up to D1 timeframe;
- Configuration for the indicator's period (default: 20 period ATR);
- Configuration for plotting the indicator on the the x axis with an offset/at begining of the day (default: offset);
- enable switching daily ATR values between yesterday-today;
- allow styling of levels at default and overflow states;
- change display values from fixed to rounded numbers;
- In some charts, gaps are not taken into account. This update fixes it.
- When there are discrepancies between intraday and D1 OHLC, the script now uses the ones from the currently displayed timeframe.
- On non 24-7 markets, after weekends and holidays the lines are longer, it fixes their length.
Dans le plus pur esprit de TradingView, l'auteur de ce texte l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur ! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par les règles internes. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.
Get access to them via: https://www.patreon.com/sbtnc
I am back testing using this indicator and I am using the Yesterday's option, how is it printing yesterdays information forward? Sometimes the 2 ATR levels appear above the current price or below. When this happens price moves to it. Is this meant to happen with the indicator or is it printing there because it knows the price goes there already? As I am using replay mode.
Sorry if this is a dumb question.
an example of what I mean. Thanks!
This is specific to the bar replay, when you first “jump to” it knows the final price of that day. However, if you go forward on next day it discovers price as it would happen in real time.