Dynamic Envelopes (Range based) needed

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Idea
I have found Envelopes to be quite useful, yet sometimes upper and lower band are either not touched at all (low Range) or completely overshot (high Range).

I want the Envelopes to adjust to the Range; Meaning that if the ATR increases, the deviation of the envelopes increases, if the ATR falls, the deviation of the envelopes should get smaller (Capturing as much of the move as possible).
Also 

Indicators
ATR
Envelopes

I want to be able to adjust the weighting of the ATR myself if possible.
An example/orientation for the desired indicator is enclosed.


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