Daily ATR Support/Resistance Lines for ThinkorSwim

TraderKevin said:
If I understand correctly, what you want is a Keltner Channel, except that the bands of a KC don't extend to the right (no reason to), and the channel shows a history of where the +/- 1 ATR values have been at each candle rather than updating at each candle and only showing the newest value.

If I'm understanding correctly, it would seem the KC would be more helpful, no?
Click to expand...

Thanks for responding! Not sure, I'd have to see the Keltner Channels. Is that a simple indicator in TOS?

Ultimately, I think I am trying to see - intraday - possible "future" support and resistance levels based on ATR of previous 14 candles (10min each)

If I sound dumb, let me know.
 
C4men said:
Thanks for responding! Not sure, I'd have to see the Keltner Channels. Is that a simple indicator in TOS?

Ultimately, I think I am trying to see - intraday - possible "future" support and resistance levels based on ATR of previous 14 candles (10min each)

If I sound dumb, let me know.
Click to expand...
So if we plot a horizontal line that is 1 ATR above the previous candle close, that would be actually be a little different than a Keltner Channel, which uses a moving average. I'll take a crack at coding this this afternoon.
 
Try this. It's not a changing horizontal line, but lines that connect each bar's "close +/- 1 ATR" value, which I think will be more helpful for you to see how it has worked over time. I looked only briefly, but I think if you tried to trade this consistently you'd get a lot of small winners and some large losers that wiped out your gains.
Code: 
input length = 14;
input averageType = AverageType.WILDERS;

def ATR = MovingAverage(averageType, TrueRange(high[1], close[1], low[1]), length);

plot hatr = close[1] + ATR;
plot latr = close[1] - ATR;

hatr.SetDefaultColor(color = Color.DARK_RED);
latr.SetDefaultColor(color = Color.DARK_GREEN);
 
TraderKevin said:
Try this. It's not a changing horizontal line, but lines that connect each bar's "close +/- 1 ATR" value, which I think will be more helpful for you to see how it has worked over time. I looked only briefly, but I think if you tried to trade this consistently you'd get a lot of small winners and some large losers that wiped out your gains.
Code: 
input length = 14;
input averageType = AverageType.WILDERS;

def ATR = MovingAverage(averageType, TrueRange(high[1], close[1], low[1]), length);

plot hatr = close[1] + ATR;
plot latr = close[1] - ATR;

hatr.SetDefaultColor(color = Color.DARK_RED);
latr.SetDefaultColor(color = Color.DARK_GREEN);
Click to expand...
Makes total sense and I agree - wouldn't trade this straight up. Wondering if possible to tweak slightly.

Would there be a way to show the two lines (above and below active candle) based on ONLY the previously closed candle?
That way there would be one set of lines (1 red, 1 green) on the current candle, based on the ATR of the previous 14.

I can set the Painting Strategy to something like this:
hatr.SetPaintingStrategy(PaintingStrategy.HORIZONTAL); -- but that puts a small horizontal line above/below EVERY candle.

In my mind, only one pair of red/green lines would be visible at a time.
 
@C4men I'm sure there's a way to do that, but I don't know how off the top of my head, and to be honest I don't care much to put a lot of effort into figuring it out. If I were able to, it'd just be an inferior product anyway. It'd show the same thing the code I already made shows, just without being able to see where it was for previous candles also. So just less information for no reason... unless I'm misunderstanding something
 
TraderKevin said:
@C4men I'm sure there's a way to do that, but I don't know how off the top of my head, and to be honest I don't care much to put a lot of effort into figuring it out. If I were able to, it'd just be an inferior product anyway. It'd show the same thing the code I already made shows, just without being able to see where it was for previous candles also. So just less information for no reason... unless I'm misunderstanding something
Click to expand...
No worries. I appreciate all the help thus far. I'll continue to play around with it and see what I can figure out. Thank you!
 
plz can u make this renko atr?

Code: 
# Renko
# Mobius

input brickSize = 10.0;

def c = close;
def bricks = CompoundValue(1, if c > bricks[1] + brickSize
then bricks[1] + brickSize
else if c < bricks[1] - brickSize
then bricks[1] - brickSize
else bricks[1] , bricks[1]);

plot bricks_ = Round(Bricks/TickSize(),0) * TickSize();
def mortar = CompoundValue(1, if bricks_ != bricks_[1]
then bricks_[1]
else mortar[1], mortar[1]);
plot mortar_ = Round(mortar/TickSize(),0) * TickSize();
AddCloud(bricks_, mortar_, color.green, color.red, yes);
# End Code
 
TraderKevin said:
Try this out:

Code: 
input ATRperiod = 14;
input averageType = AverageType.WILDERS;
input BasePeriod = AggregationPeriod.DAY;
input ATRMultiplier = 1;
input ATRMultiplier2 = 2;
input ATRMultiplier3 = 3;
input ATRMultiplier4 = 4;

def ATR = MovingAverage(averageType, TrueRange(high(period = ”DAY”)[1], close(period = ”DAY”)[1], low(period = ”DAY”)[1]), ATRperiod);


def DailyClose = close(period = ”DAY”)[1];
plot HighATR = DailyClose + ATR;
plot LowATR = DailyClose - ATR;
plot HighATR2 = DailyClose + ATR * ATRMultiplier2;
plot LowATR2 = DailyClose - ATR * ATRMultiplier2;
plot HighATR3 = DailyClose + ATR * ATRMultiplier3;
plot LowATR3 = DailyClose - ATR * ATRMultiplier3;
plot HighATR4 = DailyClose + ATR * ATRMultiplier4;
plot LowATR4 = DailyClose - ATR * ATRMultiplier4;

HighATR.SetDefaultColor(color = Color.RED);
HighATR2.SetDefaultColor(color = Color.RED);
HighATR3.SetDefaultColor(color = Color.RED);
HighATR4.SetDefaultColor(color = Color.RED);
LowATR.SetDefaultColor(color = Color.GREEN);
LowATR2.SetDefaultColor(color = Color.GREEN);
LowATR3.SetDefaultColor(color = Color.GREEN);
LowATR4.SetDefaultColor(color = Color.GREEN);

HighATR.SetPaintingStrategy(PaintingStrategy.DASHES);
HighATR2.SetPaintingStrategy(PaintingStrategy.DASHES);
HighATR3.SetPaintingStrategy(PaintingStrategy.DASHES);
HighATR4.SetPaintingStrategy(PaintingStrategy.DASHES);
LowATR.SetPaintingStrategy(PaintingStrategy.DASHES);
LowATR2.SetPaintingStrategy(PaintingStrategy.DASHES);
LowATR3.SetPaintingStrategy(PaintingStrategy.DASHES);
LowATR4.SetPaintingStrategy(PaintingStrategy.DASHES);


AddLabel(visible = yes, text = "ATR: " + Round(ATR / close * 100, 2)  + "%", color = Color.LIGHT_GRAY);
AddLabel(visible = Yes, text = "S1: " + Round(LowATR, 2), color = Color.Green);
AddLabel(visible = Yes, text = "R1: " + Round(HighATR, 2), color = Color.Red);
Click to expand...
Modified to correct ATRMultiplier to floating point also HighATR and LowATR where not taking ATRMultiplier

Code: 
# https://usethinkscript.com/threads/daily-atr-support-resistance-lines-for-thinkorswim.3633/

input ATRperiod = 14;
input averageType = AverageType.WILDERS;
input BasePeriod = AggregationPeriod.DAY;
input ATRMultiplier = 1.0;
input ATRMultiplier2 = 2.0;
input ATRMultiplier3 = 3.0;
input ATRMultiplier4 = 4.0;

def ATR = MovingAverage(averageType, TrueRange(high(period = ”DAY”)[1], close(period = ”DAY”)[1], low(period = ”DAY”)[1]), ATRperiod);


def DailyClose = close(period = ”DAY”)[1];
plot HighATR = DailyClose + ATR *  ATRMultiplier;
plot LowATR = DailyClose - ATR * ATRMultiplier;
plot HighATR2 = DailyClose + ATR * ATRMultiplier2;
plot LowATR2 = DailyClose - ATR * ATRMultiplier2;
plot HighATR3 = DailyClose + ATR * ATRMultiplier3;
plot LowATR3 = DailyClose - ATR * ATRMultiplier3;
plot HighATR4 = DailyClose + ATR * ATRMultiplier4;
plot LowATR4 = DailyClose - ATR * ATRMultiplier4;

HighATR.SetDefaultColor(color = Color.RED);
HighATR2.SetDefaultColor(color = Color.RED);
HighATR3.SetDefaultColor(color = Color.RED);
HighATR4.SetDefaultColor(color = Color.RED);
LowATR.SetDefaultColor(color = Color.GREEN);
LowATR2.SetDefaultColor(color = Color.GREEN);
LowATR3.SetDefaultColor(color = Color.GREEN);
LowATR4.SetDefaultColor(color = Color.GREEN);

HighATR.SetPaintingStrategy(PaintingStrategy.DASHES);
HighATR2.SetPaintingStrategy(PaintingStrategy.DASHES);
HighATR3.SetPaintingStrategy(PaintingStrategy.DASHES);
HighATR4.SetPaintingStrategy(PaintingStrategy.DASHES);
LowATR.SetPaintingStrategy(PaintingStrategy.DASHES);
LowATR2.SetPaintingStrategy(PaintingStrategy.DASHES);
LowATR3.SetPaintingStrategy(PaintingStrategy.DASHES);
LowATR4.SetPaintingStrategy(PaintingStrategy.DASHES);




#AddLabel(visible = yes, text = "ATR: " + Round(ATR / close * 100, 2)  + "%", color = Color.LIGHT_GRAY);
AddLabel(visible = Yes, text = "S1: " + Round(LowATR, 2), color = Color.Green);
AddLabel(visible = Yes, text = "R1: " + Round(HighATR, 2), color = Color.Red);

AddLabel(visible = Yes, text = "S2: " + Round(LowATR2, 2), color = Color.Green);
AddLabel(visible = Yes, text = "R2: " + Round(HighATR2, 2), color = Color.Red);
~
 
Is it possible to show only the latest plots and hide for previous day? I find past data points clutter the chart too much. Thanks
 
floydddd said:
i'd love to know this, too, but only to show the previous days and not the current day.
Click to expand...

This has an input showplots that is defaulted to all or a choice between prior_only or current_only

The image shows prior_only plots

Screenshot-2023-02-22-090831.png
Code: 
# https://usethinkscript.com/threads/daily-atr-support-resistance-lines-for-thinkorswim.3633/

input showplots = {default all, current_only, prior_only};
input showcurrentonly = yes;
input ATRperiod = 14;
input averageType = AverageType.WILDERS;
input BasePeriod = AggregationPeriod.DAY;
input ATRMultiplier = 1.0;
input ATRMultiplier2 = 2.0;
input ATRMultiplier3 = 3.0;
input ATRMultiplier4 = 4.0;

def ATR = MovingAverage(averageType, TrueRange(high(period = ”DAY”)[1], close(period = ”DAY”)[1], low(period = ”DAY”)[1]), ATRperiod);

def DailyClose = if showplots == showplots.prior_only and GetDay() == GetLastDay() then Double.NaN else if showplots == showplots.current_only and GetDay() != GetLastDay() then Double.NaN else close(period = ”DAY”)[1];
plot HighATR = DailyClose + ATR *  ATRMultiplier;
plot LowATR = DailyClose - ATR * ATRMultiplier;
plot HighATR2 = DailyClose + ATR * ATRMultiplier2;
plot LowATR2 = DailyClose - ATR * ATRMultiplier2;
plot HighATR3 = DailyClose + ATR * ATRMultiplier3;
plot LowATR3 = DailyClose - ATR * ATRMultiplier3;
plot HighATR4 = DailyClose + ATR * ATRMultiplier4;
plot LowATR4 = DailyClose - ATR * ATRMultiplier4;

HighATR.SetDefaultColor(color = Color.RED);
HighATR2.SetDefaultColor(color = Color.RED);
HighATR3.SetDefaultColor(color = Color.RED);
HighATR4.SetDefaultColor(color = Color.RED);
LowATR.SetDefaultColor(color = Color.GREEN);
LowATR2.SetDefaultColor(color = Color.GREEN);
LowATR3.SetDefaultColor(color = Color.GREEN);
LowATR4.SetDefaultColor(color = Color.GREEN);

HighATR.SetPaintingStrategy(PaintingStrategy.DASHES);
HighATR2.SetPaintingStrategy(PaintingStrategy.DASHES);
HighATR3.SetPaintingStrategy(PaintingStrategy.DASHES);
HighATR4.SetPaintingStrategy(PaintingStrategy.DASHES);
LowATR.SetPaintingStrategy(PaintingStrategy.DASHES);
LowATR2.SetPaintingStrategy(PaintingStrategy.DASHES);
LowATR3.SetPaintingStrategy(PaintingStrategy.DASHES);
LowATR4.SetPaintingStrategy(PaintingStrategy.DASHES);


def DC = close(period = ”DAY”)[1];
def HighATR_ = DC + ATR *  ATRMultiplier;
def LowATR_ = DC - ATR * ATRMultiplier;
def HighATR2_ = DC + ATR * ATRMultiplier2;
def LowATR2_ = DC - ATR * ATRMultiplier2;

#AddLabel(visible = yes, text = "ATR: " + Round(ATR / close * 100, 2)  + "%", color = Color.LIGHT_GRAY);
AddLabel(visible = yes, text = "S1: " + Round(LowATR_, 2), color = Color.GREEN);
AddLabel(visible = yes, text = "R1: " + Round(HighATR_, 2), color = Color.RED);

AddLabel(visible = yes, text = "S2: " + Round(LowATR2_, 2), color = Color.GREEN);
AddLabel(visible = yes, text = "R2: " + Round(HighATR2_, 2), color = Color.RED);
;
Click to expand...
 
TraderKevin said:
I edited it to add lines for the current day's trading range vs the ATR, which can be indicative that moves won't continue or will reverse soon in the same way. Also added a label to show the % that the day's trading range has fulfilled the average trading range.

Code: 
input length = 14;
input averageType = AverageType.WILDERS;
input BasePeriod = AggregationPeriod.DAY;

def ATR = MovingAverage(averageType, TrueRange(high(period=”DAY”)[1], close(period=”DAY”)[1], low(period=”DAY”)[1]), length);
def Today_High = Highest(high(period = baseperiod)[0], 1);
def Today_Low = Lowest(low(period =baseperiod)[0], 1);
def DR = Today_High - Today_Low;

plot DailyClose = close(period=”DAY”)[1];
plot hatr = dailyclose + ATR;
plot latr = dailyclose - ATR;
plot hdtr = Today_Low + ATR;
plot ldtr = Today_High - ATR;

AddLabel(visible = Yes, text = "DTR: " + round(DR/ATR, 2)*100 + "%", color = Color.LIGHT_GRAY);
Click to expand...
First of all I love this indicator, especially the DTR, I use it for breakouts, second is there a way to make the label that show the percentage into a watchlist column?
 
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