ATR MA Bands

[henry1224]

Here is the code plotting Support and Resistance Bands on a chart


Price:=(O+H+L+C)/4;
Base:=MA(Price,60);
A:=1.3 * ATR(10);
TR:=MA(A,60);
UB4:Base + (6.85 * TR),pointdot,colorViolet;
UB3:Base + (4.25 * TR),ColorOrange;
UB2:Base + (2.618 * TR),Pointdot,ColorViolet;
UB1:Base + (1.618 * TR),ColorOrange;
Cen: Base,Width2,ColorBlack;
LB1:Base - (1.618 * TR),ColorOrange;
LB2:Base - (2.618 * TR),Pointdot,ColorViolet;
LB3:Base - (4.25 * TR),ColorOrange;
LB4:Base - (6.85 * TR),Pointdot,ColorViolet;

[henry1224]

Here is a chart of the ATR Ma Bands with Tilson's 4 MA

[henry1224]

Here is a better indicator view for this Indicator


Price:=(O+H+L+C)/4;
Base:=MA(Price,60);
A:=1.3 * ATR(10);
TR:=MA(A,60);
UB4:Base + (6.85 * TR),pointdot,colorViolet;
@SetTextVisible(False);
UB3:Base + (4.25 * TR),ColorOrange;
@SetTextVisible(False);
UB2:Base + (2.618 * TR),Pointdot,ColorViolet;
@SetTextVisible(False);
UB1:Base + (1.618 * TR),ColorOrange;
@SetTextVisible(False);
Cen: Base,Width2,ColorBlack;
@SetTextVisible(False);
LB1:Base - (1.618 * TR),ColorOrange;
@SetTextVisible(False);
LB2:Base - (2.618 * TR),Pointdot,ColorViolet;
@SetTextVisible(False);
LB3:Base - (4.25 * TR),ColorOrange;
@SetTextVisible(False);
LB4:Base - (6.85 * TR),Pointdot,ColorViolet;
@SetTextVisible(False);
PlotUp1: FILLRGN(Cen,Cen,UB1),ExtendLR,Brush#2098FB98;
PlotUp2: FILLRGN(UB1,UB1,UB2),ExtendLR,Brush#20FA8072;
PlotUp3: FILLRGN(UB2,UB2,UB3),ExtendLR,Brush#20EEE8AA;
PlotUp4: FillRGN(UB3,UB3,UB4),ExtendLR,Brush#2087CEFA;
PlotDn1: FILLRGN(Cen,Cen,LB1),ExtendLR,Brush#2098FB98;
PlotDn2: FILLRGN(LB1,LB1,LB2),ExtendLR,Brush#20FA8072;
PlotDn3: FILLRGN(LB2,LB2,LB3),ExtendLR,Brush#20EEE8AA;
PlotDn4: FillRGN(LB3,LB3,LB4),ExtendLR,Brush#2087CEFA;



here is a chart

[radar]

Henry, interesting chart. Can you please tell me how to interpret the lower indicators?

thanks,
radar

[henry1224]

There are several Lower indicators on the chart!

Some of the include the 4 ma rank, Percent buyers vs Sellers, and then there are different systems.

My theory is to buy when the 4 MA rank is in a bullish state, entries can be from thr percent buyers vs sellers indicator turns up, along with 2 or 3 other conforming systems show a buy.

Be careful when price approaches the upper lines of the ATR Bands