Smart Dynamic Levels [ATR-Based]

Smart Dynamic Levels [ATR-Based]
Automated Support & Resistance Levels Based on Market Volatility

Overview:
This advanced indicator automatically plots dynamic support and resistance levels based on the Average True Range (ATR), creating meaningful price zones that adapt to changing market conditions. Unlike static round-number levels, these volatility-adjusted zones provide more relevant technical reference points.

Key Features:
Volatility-Responsive: Levels automatically adjust based on the asset's ATR

Smart Visualization:

Color gradient shows strength of each level (darker = stronger)

Bullish (green) levels below price, bearish (red) levels above

Customizable Settings:

Adjust ATR length (14-period default)

Modify level sensitivity with ATR multiplier (1.5x default)

Choose number of levels to display (5 above/below default)

Toggle labels and line extensions

How It Works:
Calculates the asset's true volatility using ATR

Rounds to significant price intervals based on current volatility

Plots equidistant levels above and below current price

Colors levels based on their position relative to price

Automatically updates as market conditions change

Recommended Use:
Day Trading: Identify intraday support/resistance zones

Swing Trading: Spot potential reversal areas

Breakout Trading: Watch for moves beyond key levels

Works on all markets: Stocks, Forex, Crypto, Futures

Settings Guide:
ATR Length: Higher values for smoother levels (14-20)

Multiplier: Increase for wider levels (1.5-3x)

Levels Count: More levels for higher timeframes (3-10)

Pro Tips:
Combine with trend analysis - levels are more significant when aligned with trend

Watch for price reactions at these levels for confirmation

Use wider levels (higher multiplier) for volatile assets

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