OPEN-SOURCE SCRIPT

HG Scalpius - ATR Up/Down Tick Highlight

HG Scalpius - ATR Up/Down Tick Highlight

This indicator highlights ATR(14) upticks (green) and downticks (red) and has the below application:
- If a new trend closing high (low) is made on a downtick in ATR, decreasing volatility mode turns on

If you come across or think of any other useful scripts for the HG Scalpius system please comment below!

Links to 2 previous HG Scalpius scripts:
-

Happy trading!

Code:
study(title="Average True Range", shorttitle="ATR", overlay=false)

length = input(title="Length", defval=14, minval=1)
smoothing = input(title="Smoothing", defval="RMA", options=["RMA", "SMA", "EMA", "WMA"])

ma_function(source, length) =>
if smoothing == "RMA"
rma(source, length)
else
if smoothing == "SMA"
sma(source, length)
else
if smoothing == "EMA"
ema(source, length)
else
wma(source, length)

ATR = ma_function(tr(true), length)
c = ATR >= ATR[1] ? color.lime : color.red

plot(ATR, title = "ATR", color=c, transp=0)

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

Autarch_Capital

Disclaimer

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Open-source script

Autarch_Capital