ATR color zones with volume radar [LM]

Hello Guys,

I would like to introduce you the ATR color zones with volume radar indicator. It's a fork of GlobalMarketSignals "GMS: Mr. Yen's Color Zone" shout-out to him.

I have enriched it -> that zones are calculated based on the ATR and percentages as described below and volume radar on candle bars. You can select from which timeframe color zones are calculated.

Zones:

white line is the previous period close
red zone = +/- 20% ATR of previous period
yellow zone = +/- 40% ATR of previous period
green zone = +/- 60% ATR of previous period
blue zone = +/- 100% ATR of previous period

Volume radar:

lime = above volume MA average multiplied by multiplier up bar
maroon = above volume MA average multiplied by multiplier down bar
black = volume is decreasing but is not below half of volume MA
navy = volume is decreasing and is below half of volume MA

markers are shown when volume is increasing two consecutive candle in row in direction of the candle

Any suggestions are welcomed

Release Notes

fixed naming

Release Notes

fixed timeframe

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.

lmatl

Disclaimer

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Open-source script

lmatl