Indicator Description
The ATR Pip Control indicator is a precision volatility tool for traders who want more than a fixed multiplier ATR. It blends adaptive coefficients, driven by a real time volatility ratio, and a Tick/Pip filter, so signals react fluidly to current market conditions instead of a static threshold.
Upper and lower band widths scale with recent price dispersion, while user defined Upper and Lower Coefficients fine tune sensitivity. A breakout is flagged only if price clears the relevant band by at least the chosen Tick or Pip distance, filtering out insignificant noise.
When a breakout occurs, the script confirms a bullish or bearish event and plots colour-coded triangles (Show Labels).
By default, signals are locked in at the bar close (100 %), guaranteeing no-repaint behaviour.
Need faster feedback? Use Signal Confirmation Timing menu to validate at 75 %, 80 %, 90 % of bar time, or even Intrabar (0 %) for instant, but less certain signals.
Each confirmed extreme also generates a “Local End” line that extends across the chart. You control how many of these levels remain on screen (Lines to Keep), giving a clean visual framework for stops, targets, or trend flips.
ATR Pip Control in action on a selected financial instrument.
Complete list of features included in this indicator:
- Show Labels: Toggle green/red signal triangles directly on the chart to highlight new bullish or bearish events.
- Bullish Color: Select the hue for all bullish elements (signals, support lines, bands).
- Bearish Color: Select the hue for all bearish elements (signals, resistance lines, bands).
- ATR Period: Define the look-back length for Average True Range (default 21) to balance noise filtering and reactivity.
- Filter Type: Choose “Tick” or “Pip” as the unit used in the volatility filter.
- Minimum Filter Value: Set the minimum tick/pip size a candle body must exceed to validate a signal.
- Upper Coefficient: Adjust the sensitivity of the upper volatility band (higher = wider band).
- Lower Coefficient: Adjust the sensitivity of the lower volatility band (higher = wider band).
- Show Local Ends: Plot dashed horizontal lines at the most recent swing high/low to visualise key support and resistance levels.
- Lines to Keep: Control how many historical Local-End lines are retained via FIFO logic (default 5).
- Source Time-Frame: Run calculations on any higher TF (e.g., 60 min) while displaying results on the active chart.
- Adaptive ATR Bands: Band width scales dynamically with real-time volatility using an IVR-based coefficient.
- Signal Confirmation Timing: Decide when a breakout is validated (Intrabar / 75 % / 80 % / 90 % / Close 100 % / Auto). Default “Close 100 %’’ delivers zero repaint; faster options cater to scalpers.
- Anti-Repaint Logic: Signals are confirmed only after the chosen timing threshold; the default bar-close mode never repaints.
- Lightweight Architecture: Constant-time processing and automatic queue management keep memory usage well below TradingView limits.
All options come with default settings that can be customized based on the specific market instrument you are analyzing. You can also configure alerts to be notified whenever a new signal is generated by the indicator. These alerts are condition-based, allowing you to selectively enable or disable specific alerts according to your trading strategy.
