EATR (Envelopes ATR)
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Envelopes ATR is a technical indicator that displays upper and lower deviation bands of price from MA. It is calculated based on the average volatility of the instrument on the indicator ATR.
The middle band is the deviation band of price from MA. Upper and lower bands (blue and green by default) are deviation bands of ATR values from MA. Signal to sell appears when the price reaches the upper line of the middle band and a buy signal appears at the lower line.
Period of ATR: 14 by default;
Smoothing method: SMA, EMA, SMMA, LWMA, JJMA, JurX, ParMA, T3, VIDYA, AMA;
Source price: Close, Open, High, Low, Typical, Medium, Weighted;
Smoothing depth: 14 by default;
Smoothing parameter: 14 by default;
Deviation: 1 by default;
Color pickers for selecting the band colors.
The indicator itself looks as follows:
