Pinescriptlabs Store indicators: Pinescriptlabs Store cBots : (cBot) Gold & BTC BreakoutSession Pivots(new)
PRICE ACTION (New)
Trailing Smart Algorithm (new)
Prediction Based on Linreg & ATR
SmartTrend Support &
Resistance
Lines
Dynamic
Market Structure
Analysis
of
Turning
Points
Fibonacci
Linear
Regression
Multi-timeframe
Auto
Support and
Resistance
Trend
Lines
All
Support and
Resistance
Levels
π **Trend-Following Algorithm** that leverages the **Average True Range (ATR)** π to define a price channel π and determine trend direction (bullish π’ or bearish π΄). The indicator changes colors and draws lines based on the trend, making it easy to visualize shifts in market momentum. πΉ
### π§ **Inputs**:
1. **ATR Periods** β³:
- Defines the number of periods to calculate the **Average True Range**. This affects the indicator's sensitivity, helping you capture market movements faster or slower.
2. **ATR Multiplier** π:
- Adjusts the distance between the trend lines π based on market volatility π. A higher value widens the channel, reducing false signals but giving a clearer view of major market moves. π
![β[Hamster-Coder] Bollinger Bandsβ-Logo](https://market-prod-23f4d22-e289.s3.amazonaws.com/1114cb2b-7120-42b3-8f53-dbc26968e6af_Icon300.jpg)