Dynamic ATR Bands

Description:
The Dynamic ATR Bands indicator visualizes ATR-based stop-loss, take-profit, and trailing levels. Bands can be drawn relative to a fixed entry price or dynamically relative to the current price. It is ideal for trend-following, swing trading, and hybrid strategies, especially on volatile or noisy instruments.

Key Features:

Base ATR Bands:

• Plots ATR-based bands above and below a reference price.
  
• Acts as initial stop-loss or target guidance.
  
• Adjustable multiplier (default 1× ATR).
  

Extra ATR Band:

• Add an additional ATR band at a custom multiplier.
  
• Position it above or below the reference price.
  
• Useful for trailing stops or extended profit targets.
  

Hybrid Entry Mode:

• Use Fixed Entry Price: bands are drawn relative to your entry and remain fixed.
  
• Dynamic Mode: bands behave like standard ATR bands, moving with the current price.
  
• Allows visualization of hybrid ATR stop-loss and trailing strategies.
  

Clean Visuals:

• Color-coded bands differentiate base (solid) from extra (semi-transparent).
  

How to Use:

• Set ATR length and multipliers according to your strategy.
  
• Toggle hybrid entry mode and input your entry price, or leave off for dynamic bands.
  
• Set the extra band multiplier and choose its position (upper/lower).
  
• Use the bands as visual guides for stop-loss, take-profit, and trailing levels.
  

Inputs:

• ATR Length: number of periods for ATR calculation
  
• Base ATR Multiplier: distance of base bands from reference price
  
• Extra ATR Multiplier: distance for the additional band
  
• Extra Band Position: choose Upper or Lower
  
• Use Fixed Entry Price: toggle hybrid entry mode
  
• Entry Price: specify entry price if hybrid mode is enabled
  

Note:
This script is visual only; it does not place trades. It is designed to help plan ATR-based stop-loss, take-profit, and hybrid trade management visually on the chart.