ATR Trend / Chop Dashboard (Overlay)

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🧭 ATR Trend / Chop Dashboard (Overlay) — v6
This tool helps you instantly visualize whether the market is trending, neutral, or choppy using the Average True Range (ATR) and its moving average.
It’s designed for day traders and scalpers who want a clean, adaptive volatility dashboard that works across multiple timeframes.

⚙️ How It Works
The indicator measures volatility expansion and contraction:
• Green background (Trend): ATR is above its moving average and rising — volatility is expanding, price is likely trending.
• Red background (Chop): ATR is below its moving average and falling — volatility is contracting, expect sideways or fake breakouts.
• Yellow background (Neutral): ATR is near its average — the market is balanced or transitioning.
All background colors use 10% opacity so they blend smoothly with your chart.

💡 Dashboard Mode
You can use it in two modes:
1 Visual background overlay — color-coding directly on your candles for quick volatility context.
2 Mini Dashboard panel — a clean data display (bottom right by default) showing:
◦ Current ATR value
◦ ATR Moving Average
◦ ATR Ratio (volatility intensity)
◦ Market State (TREND / CHOP / NEUTRAL)
You can turn either visualization on or off depending on your preference.

🧩 Multi-Timeframe Design
The indicator is multi-timeframe aware — you can choose which ATR timeframe to calculate (e.g. 5m, 15m, 30m) while viewing a different chart timeframe.
For example:
• On a 1-minute chart, set ATR TF to 5m or 15m for higher-level volatility context.
• On a 5-minute chart, use a 15m or 30m ATR TF to see trend strength on a larger scale.
This lets you spot when intraday chop transitions into a trend or when volatility begins to fade — ideal for Opening Range Breakout (ORB), VWAP, or momentum setups.

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Informacje o Wersji

added color background box