ATR bands, smoothed with exponential moving averages.
The difference between this and other ATR bands is that high and low are used as the source for top and bottom band, resulting in more accurate ATRs. It is also calculated in log-space to aid in making the bands more "springy" when it comes to extremely volatile assets or very low timeframes.
See here for an upgraded version:
![ATR Trailing Stop Bands [NeoButane]](https://static.tradingview.com/static/images/svg/idea-image-placeholder.svg)
The difference between this and other ATR bands is that high and low are used as the source for top and bottom band, resulting in more accurate ATRs. It is also calculated in log-space to aid in making the bands more "springy" when it comes to extremely volatile assets or very low timeframes.
See here for an upgraded version:
![ATR Trailing Stop Bands [NeoButane]](https://s3.tradingview.com/5/5xdHTNpV_big.png)
Versionsinformation:
- Added option to not use a moving average to get the real value for stop loss
Versionsinformation:
Added alert conditions for the labels. Defaulted EMA smoothing to true.
Versionsinformation:
Added additional bands that are off by default. These bands do not have alerts nor shapes attached to them, so I have turned "Show Labels When Price Closes Out of Bands" off for default to prevent confusion.
My published indicators: www.tradingview.com/u/NeoButane/
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)