Daily ATR Levels
How far is this thing allowed to run today? Volatility-scaled levels, drawn before you trade.
Chart overlay · Intraday, any · Any liquid stock, ETF or futures chart
Daily ATR Levels answer one question: how far is this instrument allowed to run today. They project bands from the open using the average true range, so a name that normally moves two dollars gets two-dollar expectations rather than a fixed percentage that fits nothing.
What it shows
- Upper and lower levels at 0.5, 1.0 and 1.5 daily ATRs from today's open (or the prior close, your choice).
- All levels from confirmed daily data, so nothing moves intraday.
- Pill labels with the exact prices, and touch alerts on the one-ATR bands.
How it reads the market
A stock that moves two dollars a day treats a two-dollar target very differently than one that moves ten. Scaling the day's map by ATR puts every name on the same footing: the one-ATR band is roughly a normal day's reach, and price beyond 1.5 ATRs is having an unusual day.
Settings
| Setting | Default | What it does |
|---|---|---|
| ATR length | 14 days | The volatility window behind the bands. |
| Anchor | Today's open | Draw the bands off the open or the prior close. |
| Multiples | 0.5 / 1.0 / 1.5 | Each band toggles separately, plus a custom multiple. |
Everything is an input: colors, thresholds and time windows adjust from the indicator's settings panel, no code needed.
Built-in alerts
- Touched +1 ATR
- Touched -1 ATR
Set them once from TradingView's alert dialog and get notified on your phone, no chart-watching required.
Comes with the membership
The whole indicator suite is included with the paid plan, $20/month or $200/year. Subscribe, submit your TradingView username, and the scripts land in your TradingView library.
Get full accessHow to add it to your chart
- Request access above with your TradingView username (one request covers the whole suite).
- We grant it on TradingView, usually within 24 hours; TradingView notifies you.
- On your chart, open Indicators → Invite-only scripts and add Daily ATR Levels.
When to use it, and when not to
It earns its place when
- You set targets and want them scaled to what this name actually does.
- You size stops and need a distance the instrument respects.
- You want to know whether today's move is already large by this name's standards.
Leave it off the chart when
- There is an earnings release or a scheduled event. ATR describes normal days and today is not one.
- The instrument just changed character. ATR is backward-looking and takes weeks to catch up.
- You want support and resistance. These are distance bands, not levels anybody defends.
Common questions
What is average true range?
The average daily distance an instrument travels, including gaps. Welles Wilder built it to size stops in commodities. Its value is that it is expressed in the instrument's own units, so it compares a 400-dollar stock to a 12-dollar one honestly.
How do I use ATR for a stop?
Place it beyond the distance the instrument routinely covers in normal trade, commonly one to two ATR from entry. Anything tighter gets taken out by ordinary movement rather than by being wrong.
Has today's move already gone too far?
That is exactly what these bands answer. A move that has already covered one and a half ATR by lunchtime has done a full day's work, and chasing it is a different trade from entering at the open.
What ATR period should I use?
Fourteen days is the standard and a reasonable default. Shorter adapts faster to a volatility shift and is noisier. Longer is stable and slow to notice that the character of the name has changed.