The Xtreme ATR indicator displays a real-time signal bar when the price exceeds a certain ATR level. There are 3 ATR levels above and below the moving average. Each signal shows its potential profit/loss based on the best exit point. The indicator also shows a summary of the signal history in the upper-left corner.
The indicator shows the best results on the M1 and M5 charts. Buy/sell signals are fixed (not redrawn), but exit points are not, and can move with the price.
- Use_HTF1: You can use the ATR level criterion for the higher timeframe 1. By default, it is set to false.
- HTF1: If use_htf1 is true, it sets the higher timeframe to 1. By default, M15.
- ATRLevel1: If use_htf1 is true, sets the ATR level. By default, ATR1.
- Use_HTF2: You can use the ATR level criterion for the higher timeframe 2; by default, true
- HTF2: If use_htf2 is true, sets the higher timeframe to 2; by default, M5
- ATRLevel2: If use_htf2 is true, sets the ATR level; by default, ATR2
- ATRLevel3: Parameter for setting the current timeframe, for example M1
- useatr_ratio: using the ATR ratio, default is true; the logic is that the signal bar should be large to indicate a potential reversal.
- ATR5Ratio: If Use-atratio is true, sets the bar size in relation to the average bar for the last 5 bars; by default, 1.25, this means that the signal bar should be 1.25 times larger than the average of the last 5 bars.
- AlertOn: By default, False. A pop-up message and an audible alert when a new signal is received.
- SignalLineBuy: The color of the dashed line of the buy signal bar drawn before the potential profit/loss.
- SignalLineSell: Color of the dashed line of the sell signal bar drawn before the potential profit / loss.