There are two bands calculated with the ATR and I added "Smoothing" into the script. Smoothing ATR with multiplier can display two bands above and below the price. We can ONLY find some ATR bands in Community Scripts with "Basic" setting which is used to set Stop Loss. And yet , Smoothing ATR with multiplier is capable of making traders manifestly recognize OverBought & OverSold. FurtherMore, I added a condition with "plotshape", which is "Stop Hunt" Stop Hunt is an absolutely usual strategy to clean the leverage and it always makes high volatility moves. Whenhigh> above band and close< above band, long signal, it means it had been abundantly bought but the larger traders weren't satisfied; therefore, they quickly sold out to lower the price. The sell condition is on the contrary. The signals mainly make traders manifestly recognize OverBought & OverSold.
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Added alert settings
If setting many alerts is allowed, you can choose these two settings above respectively.
If you're a free Tradingview user, you are allowed to have one alert setting simultaneously. "SAB_alert(Recommended✅)" is the best choice for you! Long and Short Opportunities will also trigger the alert.
Your indicator is very easy to use. Can you add a time alarm function, such as alarm prompts for 15 minutes, 1 hour, 2 hours, and 4 hours? Thank you.
crypto_juju
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Boss, how do you use it in your live analysis considering it repaints? Thx
khlin712
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@crypto_juju, I merely trade with only one Indicator. I use the indicator with technical analysis in order to be more confident. Never Repaints. If you want to totally rely on the signals , I sheerly recommend using 'Quantitative trading' strategies !