‘Three ATR Bands with multiple selection’ indicator is a set of three ATR Bands indicators each having adjustable parameters.
It has nineteen input parameters:
- Show middle lines – show the middle ATR Band (Yes/No)
- Show first ATR Bands – show the first ATR Bands indicator (Yes/No)
- First ATR period – ATR calculation period for the first ATR Bands
- First MA period – MA calculation period for the first ATR Bands (middle line)
- First MA type – MA type for the first ATR Bands
- First applied price – MA calculation price for the first ATR Bands
- First bands multiplier – ATR multiplier for the first ATR Bands
- Show second ATR Bands – show the second ATR Bands indicator (Yes/No)
- Second ATR period – ATR calculation period for the second ATR Bands
- Second MA period – MA calculation period for the second ATR Bands (middle line)
- Second MA type – MA type for the second ATR Bands
- Second applied price – MA calculation price for the second ATR Bands
- Second bands multiplier – ATR multiplier for the second ATR Bands
- Show third ATR Bands – show the third ATR Bands indicator (Yes/No)
- Third ATR period – ATR calculation period for the third ATR Bands
- Third MA period – MA calculation period for the third ATR Bands (middle line)
- Third MA type – MA type for the third ATR Bands
- Third applied price – MA calculation price for the third ATR Bands
- Third bands multiplier – ATR multiplier for the third ATR Bands
The types of Moving Averages, which can be used for each of the three ATR Bands:
- Simple –
- Exponential –
- Smoothed –
- Linear-Weighted –
- Wilder Exponential – Welles Wilder’s exponential moving average
- Sine-Weighted – sine-weighted moving average
- Triangular – triangular moving average
- Least Square – least square moving average (LSMA)
- Hull MA by Alan Hull – Hull’s moving average (HMA)
- Zero-Lag Exponential – exponential moving average with the minimum delay
- Instantaneous Trendline by J.Ehlers – John Ehlers’ trendline
- Moving Median – moving median
- Geometric Mean – moving average based on the geometric mean method
- Regularized EMA by Chris Satchwell – moving average based on Chris Satchwell’s Regularized EMA method
- Integral of Linear Regression Slope – integral of linear regression slope (ILRS MA)
- Combination of LSMA and ILRS – moving average – combination of LSMA and ILRS methods
- Triangular MA generalized by J.Ehlers – John Ehlers’ triangular moving average
- Volume-Weighted – volume-weighted moving average
Calculation:
Top = Middle + ATR * Multiplier
Bottom = Middle – ATR * Multiplier
Middle = MA(Applied price, MA period, MA type)
Since the indicator provides wide options for adjusting the indicator lines, it is convenient for trading at rollbacks from extreme values.
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