ATR Multiples Labels

Displays multiples of current ATR as labels on your chart. Helpful for quick reference if using for target/stop levels.

# ATR Label Only (Upper Study)
declare upper;

input atrLength = 14;
input smoothingType = AverageType.WILDERS;

input labelRed = 200; 
input labelGreen = 200; 
input labelBlue = 200; 

DefineGlobalColor("LabelColor", CreateColor(labelRed, labelGreen, labelBlue));

# Calculate ATR using chart's current timeframe
def atr = MovingAverage(
    smoothingType, 
    TrueRange(high, close, low), 
    atrLength
);

# ATR multiples
def atrHalf = atr * 0.5;
def atrOne = atr * 1.0;
def atrOnePointFive = atr * 1.5;
def atrThree = atr * 3.0;

# Labels
AddLabel(
    yes,
    "0.5 × ATR: " + AsText(atrHalf, NumberFormat.TWO_DECIMAL_PLACES),
    GlobalColor("LabelColor")
);

AddLabel(
    yes,
    "1 × ATR: " + AsText(atrOne, NumberFormat.TWO_DECIMAL_PLACES),
    GlobalColor("LabelColor")
);

AddLabel(
    yes,
    "1.5 × ATR: " + AsText(atrOnePointFive, NumberFormat.TWO_DECIMAL_PLACES),
    GlobalColor("LabelColor")
);

AddLabel(
    yes,
    "3 × ATR: " + AsText(atrThree, NumberFormat.TWO_DECIMAL_PLACES),
    GlobalColor("LabelColor")
);