The ATR Exhaustion indicator for Tradingview will overlay the minimum and maximum price limits for a timeframe over your chart. It calculates the price limits be adding and subtracting the ATR level from the high and lows of the period you are interested in.
For example, you can see the daily upper and lower ATR levels whilst on a 15-minute chart. The upper and lower ranges will update as price moves.
Why would this be useful?
It the true price range on average does not move more than x pips/points, then the range boundaries might provide support/resistance
levels as price approaches the levels. Additionally, you can use this tool to easily identify how volatile price action has been in comparison to previous periods.
- Easily see ATR Exhaustion areas in any timeframe
- Period highs and lows are plotted and updated as price action unfolds
- Color fills change when price moves beyond the ATR range for easy identification of periods of strong trends or volatility .