ATR Squeeze tfmt5
This indicator lets you customize your own squeeze criteria to see when the ATR shows low volatility to a squeeze situation and when the ATR begins to show high volatility. This indicator shows the ATR line and a squeeze or threshold line that is the lowest ATR plus a percentage you specify. The squeeze line is in yellow. The ATR that is below the squeeze line is in green and the ATR that is above the squeeze line is in red. As you calculate your squeeze line, you can use this indicator to see when the price may begin to trend as volatility increases. Use together with the ATR Envelopes indicator we offer for free to view the ATR contract and expand as the volatility changes.
You can change the number of bars used in the ATR, the number of bars to look back and find the lowest ATR of those bars, and the percentage above the lowest ATR to have a line to easily see when the ATR starts going above your squeeze threshold. The inputs include:
- ATR_Periods: The number of bars to be used in the ATR calculation.
- Bars_Back: The number of bars back to find the lowest ATR value.
- Threshold_Percent: The percentage to add to the lowest ATR value. If you want the threshold line to be 20% above the lowest ATR value, enter 20 to this input.
ATR Squeeze/Threshold Line summarized calculation: