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Miha Kralj
2026-03-13 13:47:10 -07:00
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lib/channels/atrbands/atrbands.md
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| **PineScript** | [atrbands.pine](atrbands.pine) |
- ATR Bands create a volatility-adaptive envelope by projecting Wilder's Average True Range above and below a central Simple Moving Average.
- Parameterized by `period`, `multiplier` (default 2.0).
- Output range: Tracks input.
- Requires `period` bars of warmup before first valid output (IsHot = true).
- **Similar:** [KChannel](../kchannel/kchannel.md), [STBands](../stbands/stbands.md) | **Complementary:** ADX to distinguish trend vs range | **Trading note:** Volatility-normalized symmetric bands using ATR; adapts to true volatility including gaps.
- Validated against TA-Lib, Skender, and Tulip reference implementations where available.
ATR Bands create a volatility-adaptive envelope by projecting Wilder's Average True Range above and below a central Simple Moving Average. Unlike fixed-percentage envelopes or standard-deviation bands, ATR Bands use True Range to measure volatility, making them robust for assets with gaps, pre-market moves, and 24/7 trading where the "hidden" volatility between bars is significant. The True Range captures the maximum of intra-bar range, gap-up distance, and gap-down distance, ensuring that overnight gaps contribute fully to band width even when the current bar's open-to-close range is narrow.