Xtreme ATR

Xtreme ATR indicator displays a signal bar in real time when the price exceeds a certain ATR level. There are 3 ATR levels above and below a moving average. Each signal shows its potential profit/ loss on the basis of best exit point. Indicator also shows a summary of the history signals on the left top corner.

This indicator gives best results on M1 and M5 charts. Buy/Sell signals are fixed (does not repaint) but exit points are not and can move with the price.

Parameters

• Use_HTF1: You may use the ATR level criteria for higher time frame 1. Default is False.
• HTF1: If Use_HTF1 is true, this sets the higher time frame 1. Default is M15.
• ATRLevel1: If Use_HTF1 is true, this sets the ATR level. Default is ATR1.
• Use_HTF2: You may use the ATR level criteria for higher time frame 2; default true
• HTF2: If Use_HTF2 is true, this sets the higher time frame 2; Default M5
• ATRLevel2: If Use_HTF2 is true, this sets the ATR level; default ATR2
• ATRLevel3: The setting of ATR level3 is for the current time frame, for example, M1
• UseATR_Ratio: Default true; the logic is that the signal bar must be large to signify a potential reversal.
• ATR5Ratio: If Use-ATRRatio is true, this sets the bar size at a ratio of the average bar size of the last 5 bars; default 1.25, meaning the signal bar should be 1.25x larger than the past 5 bar average.
• alertOn: Default False. A popup message and a sound for a new signal.
• SignalLineBuy: The dotted line color of the buy signal bar connecting to the potential Profit/Loss.
• SignalLineSell: The dotted line color of the sell signal bar connecting to the potential Profit/Loss.