AZ Auto Levels builder ATR edition

AZ Auto Levels builder ATR edition

AZ Auto Levels builder ATR edition

Indicator of automatic level drawing. For different instruments you need to play with the parameters to find the right ones. So, what is its idea - the indicator searches for levels of interest on the timeframe selected in the settings (by default H1). The search occurs only on candles that are 30% greater than the standard daily ATR of similar candles (you can change this in the settings). ATR is calculated for 20 days ago (also can be changed in the settings). The indicator searches for 2 candles, the second candle, if it falls into the desired ATR - should be at least 80% of the previous candle (can also be changed in the settings). If such a combination is found, then a fill with a dotted line of 50% is drawn along the shadows of this candle combination. The fill color and the color of the dotted line can be changed in the settings. The location of the price at the 50% mark can also be changed in the settings. In general, I created an indicator "without coming to my senses." I strongly advise you to play with the settings. At the moment, the results of the work even surprised me :)

//--- input parameters

input ENUM_TIMEFRAMES InpTimeframe = PERIOD_H1;  // Timeframe

input int            InpATRPeriod = 20;           // ATR calculation period (days)

input double         InpATRMultiplier = 30.0;    // ATR multiplier percent (%)

input double         InpSecondCandleRatio = 80.0;// Second candle minimum size ratio (%)

input color          InpZoneColor = C'235,241,255'; // Zone fill color

input color          InpLineColor = clrCrimson;  // Middle line color

input int            InpRectangleWidth = 6;      // Rectangle width in bars

input int            InpMaxVisibleZones = 5;     // Maximum number of zones to display

input double         InpMinDirectionChange = 0.3; // Minimum direction change between candles (0-1)

P.S. But if you want a real indicator that can change your vision of trading - download my AZ Volzone SYSTEM or it's simplified, but no less valuable analogue AZ Azazavr system. Good luck!