The indicator draws a Moving Average relative to ATR and overbought/oversold levels in a separate window.

Calculation formula:

where:

• MA - the Moving Average of the difference between Close and Low prices for the selected period;
• ATR - Average True Range with the specified calculation period.

It has four input parameters:

• Period - calculation period;
• Method - MA calculation method;
• Overbought - overbought level;
• Oversold - oversold level.