Indicator Name: Baseline: iMA + ATR Bands
Description:
The Baseline: iMA + ATR Bands is a custom trading indicator that merges a standard Moving Average (MA) with upper and lower bands based on the Average True Range (ATR). This combination creates an intuitive and effective visual tool for spotting market trends, potential breakouts, and overall volatility.
Background:
Inspired by the No Nonsense Forex (NNFX) trading approach, the Baseline serves as a crucial trend filter. I designed it to simplify the baseline setup, making it easier for traders to interpret directly from their charts.
How to Use:
- iMA Period: This refers to the number of bars used to calculate the Moving Average.
- iMA Method: Choose the type of Moving Average you prefer (simple, exponential, smoothed, or linear weighted).
- Applied Price: Select the source price for your MA (like Close, Open, High, or Low).
- ATR Period: Specify the number of bars used for the ATR calculation.
- ATR Multiplier: This factor modifies the ATR value to determine the upper and lower bands.
Trading Suggestions (not financial advice):
- Use the MA line to act as your baseline trend filter.
- When the price crosses above the upper band, it may indicate bullish momentum.
- Conversely, if the price drops below the lower band, it could suggest bearish momentum.
- Always combine this indicator with additional confirmation, volume, and exit signals according to your trading strategy (like NNFX guidelines).
Screenshots:
Input Settings:
Color & Lines Settings:
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