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
๐ **Trend-Following Algorithm** that leverages the **Average True Range (ATR)** ๐ to define a price channel ๐ and determine trend direction (bullish ๐ข or bearish ๐ด). The indicator changes colors and draws lines based on the trend, making it easy to visualize shifts in market momentum. ๐น
### ๐ง **Inputs**:
1. **ATR Periods** โณ:
- 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** ๐:
- Adjusts the distance between the trend lines ๐ based on market volatility ๐. A higher value widens the channel, reducing false signals but giving a clearer view of major market moves. ๐
5 | 33 % | |
4 | 67 % | |
3 | 0 % | |
2 | 0 % | |
1 | 0 % |
