OPEN-SOURCE SCRIPT
SkyTrendBands (ATR + CCI) - Upper & Lower Band Shading
🚀 ATR/CCI Trend Bands – Adaptive Trend & Volatility Zones
🔹 Overview
The ATR/CCI Trend Bands indicator is a trend-following and volatility-based tool designed to help traders identify trend direction, strength, and potential reversals. It combines Average True Range (ATR) for dynamic price bands and Commodity Channel Index (CCI) to filter trends, ensuring traders only focus on high-probability setups.
Unlike static support and resistance levels, these bands dynamically expand and contract based on market volatility, making them highly effective for adapting to changing market conditions.
🔹 🔍 How It Works
✅ ATR-Based Trend Bands – The upper and lower bands are calculated using an ATR multiplier, which expands in high-volatility conditions and contracts in low-volatility conditions. These bands act as adaptive support and resistance zones.
✅ CCI Trend Filter – The CCI value determines whether the trend is bullish or bearish.
If CCI is above 0 → The trendline follows the highest price movement within the ATR bands, indicating an uptrend.
If CCI is below 0 → The trendline follows the lowest price movement within the ATR bands, marking a downtrend.
✅ Dynamic Trendline Coloring
Blue Trendline = Uptrend (CCI ≥ 0)
Red Trendline = Downtrend (CCI < 0)
✅ Shaded Support & Resistance Zones
Red Upper Bands (Resistance) → Indicates potential selling pressure.
Blue Lower Bands (Support) → Indicates potential buying interest.
🔹 📈 How to Use This Indicator?
🔸 Trend Trading – Use the trendline to ride trends with confidence. When the price stays above the trendline (blue), stay bullish; when it's below (red), favor bearish positions.
🔸 Breakout Confirmation – If the price breaks above the upper band, it may signal a strong bullish breakout. Conversely, a break below the lower band could indicate a bearish breakdown.
🔸 Reversal Trading – Look for price exhaustion in the shaded resistance (red) and support (blue) zones. If the price repeatedly fails to break through the bands, a reversal may be forming.
🔹 🎯 Why Use This Indicator?
✅ Eliminates false breakouts by combining ATR & CCI
✅ Works on all timeframes and markets
✅ Perfect for trend traders, breakout traders, and mean-reversion setups
✅ Customizable inputs for different trading styles
🚀 Upgrade your trading with ATR/CCI Trend Bands today!
🔹 Overview
The ATR/CCI Trend Bands indicator is a trend-following and volatility-based tool designed to help traders identify trend direction, strength, and potential reversals. It combines Average True Range (ATR) for dynamic price bands and Commodity Channel Index (CCI) to filter trends, ensuring traders only focus on high-probability setups.
Unlike static support and resistance levels, these bands dynamically expand and contract based on market volatility, making them highly effective for adapting to changing market conditions.
🔹 🔍 How It Works
✅ ATR-Based Trend Bands – The upper and lower bands are calculated using an ATR multiplier, which expands in high-volatility conditions and contracts in low-volatility conditions. These bands act as adaptive support and resistance zones.
✅ CCI Trend Filter – The CCI value determines whether the trend is bullish or bearish.
If CCI is above 0 → The trendline follows the highest price movement within the ATR bands, indicating an uptrend.
If CCI is below 0 → The trendline follows the lowest price movement within the ATR bands, marking a downtrend.
✅ Dynamic Trendline Coloring
Blue Trendline = Uptrend (CCI ≥ 0)
Red Trendline = Downtrend (CCI < 0)
✅ Shaded Support & Resistance Zones
Red Upper Bands (Resistance) → Indicates potential selling pressure.
Blue Lower Bands (Support) → Indicates potential buying interest.
🔹 📈 How to Use This Indicator?
🔸 Trend Trading – Use the trendline to ride trends with confidence. When the price stays above the trendline (blue), stay bullish; when it's below (red), favor bearish positions.
🔸 Breakout Confirmation – If the price breaks above the upper band, it may signal a strong bullish breakout. Conversely, a break below the lower band could indicate a bearish breakdown.
🔸 Reversal Trading – Look for price exhaustion in the shaded resistance (red) and support (blue) zones. If the price repeatedly fails to break through the bands, a reversal may be forming.
🔹 🎯 Why Use This Indicator?
✅ Eliminates false breakouts by combining ATR & CCI
✅ Works on all timeframes and markets
✅ Perfect for trend traders, breakout traders, and mean-reversion setups
✅ Customizable inputs for different trading styles
🚀 Upgrade your trading with ATR/CCI Trend Bands today!
Açık kaynak kodlu komut dosyası
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Açık kaynak kodlu komut dosyası
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.