Multi-Timeframe ATR Levels by Hitesh2603

Description:
"Multi-Timeframe ATR Levels by Hitesh2603" is a versatile and adaptive indicator designed to help traders identify key price levels based on the Average True Range (ATR) from a higher timeframe. The script automatically adapts to the current chart’s timeframe and allows you to customize the higher timeframe for ATR calculations, making it ideal for intraday and swing trading strategies.

The indicator plots upper and lower price levels based on the ATR multiplier, providing clear visual cues for potential profit-taking or exit points. It also includes features like editable timeframe presets , historical level plotting , labels , and alerts , making it a powerful tool for traders of all experience levels.

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Key Features:
1. Automatic Timeframe Adaptation : - The script automatically detects the current chart’s timeframe and selects the appropriate higher timeframe for ATR calculations.

2. Editable Preset Timeframe Pairs : - Customize the higher timeframe for each chart timeframe directly in the indicator settings.

3. Dynamic ATR-Based Levels :- Plots upper and lower price levels using the formula:
- Upper Level = Current Candle Open + (Previous Candle ATR * Multiplier)
- Lower Level = Current Candle Open - (Previous Candle ATR * Multiplier)

4. Customizable Inputs :
- Adjust ATR length, multiplier, line length, colors, and more.

5. Labels :
- Displays the exact values of the upper and lower levels for easy reference.

6. Historical Levels :
- Optionally plots historical levels for all candles.

7. Alerts :
- Get notified when the price crosses the upper or lower levels.

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Use Cases:

1. Intraday Trading :
- Use the script on a 5-minute or 15-minute chart with a 1-hour higher timeframe to identify intraday profit-taking or exit points.

2. Swing Trading :
- Use the script on a 1-hour or 4-hour chart with a daily higher timeframe to identify swing trading opportunities.

3. Position Trading :
- Use the script on a daily chart with a weekly higher timeframe to identify key levels for position trading.

4. Breakout Confirmation :
- Use the upper and lower levels as confirmation points for breakouts or reversals.

5. Risk Management :
- Use the levels to set stop-loss or take-profit targets based on market volatility.

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How to Use:
1. Add the Script to Your Chart :
- Search for "Multi-Timeframe ATR Levels by Hitesh2603" in the TradingView indicator library and add it to your chart.

2. Customize the Settings :
- Adjust the inputs (e.g., ATR length, multiplier, line length, colors, etc.) to suit your trading strategy.

3. Set the Higher Timeframe :
- The script will automatically display an input for the higher timeframe based on the current chart’s timeframe. Customize it as needed.

4. Interpret the Levels :
- The script will plot two horizontal lines (upper and lower levels) on the chart. Use these levels for profit-taking, exits, or breakout confirmation.

5. Enable Alerts :
- Set up alerts to get notified when the price crosses the upper or lower levels.

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Input Parameters:
1. ATR Length :
- The period used to calculate the ATR (default: 14).

2. ATR Multiplier :
- The multiplier applied to the ATR to calculate the levels (default: 0.65).

3. Line Length :
- The number of candles to extend the lines (default: 10).

4. Show Labels :
- Toggle to display the exact values of the levels (default: true).

5. Show Historical Levels :
- Toggle to plot historical levels for all candles (default: false).

6. Line Colors :
- Customize the colors of the upper and lower levels.

7. Line Width :
- Adjust the thickness of the lines (default: 2).

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Example:
- Current Chart : 5-minute
- Higher Timeframe : 1-hour
- Previous Hour’s ATR : 4.6
- Current Hour’s Open : 102
- Multiplier : 0.65

Levels :
- Upper Level = 102 + (4.6 * 0.65) = 105.0
- Lower Level = 102 - (4.6 * 0.65) = 99.0

The script will plot horizontal lines at 105.0 and 99.0 on the 5-minute chart.

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Alerts:
- Price Crosses Upper Level :
- Triggered when the price crosses above the upper level.
- Price Crosses Lower Level :
- Triggered when the price crosses below the lower level.

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Notes:
- The script is designed to be flexible and adaptable to various trading styles and timeframes.
- Always backtest and validate the indicator with your trading strategy before using it in live trading.

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Credits:
- Developed by Hitesh2603 .
- Special thanks to the TradingView community for inspiration and support.