ATR x2 AUTO

Description:
This indicator automatically plots ATR-based horizontal levels for each of the most recent candles, helping traders visualize potential stop-loss hunting zones, breakout areas, or price reaction points.

It works by taking the Average True Range (ATR) over a customizable period and multiplying it by a user-defined factor (default: ×2). For each of the last N candles (default: 5), it calculates and draws:

Below green candles (bullish) → A horizontal line placed ATR × multiplier below the candle’s low.

Above red candles (bearish) → A horizontal line placed ATR × multiplier above the candle’s high.

Doji candles → No line is drawn.

Each line extends to the right indefinitely, allowing traders to monitor how price reacts when returning to these ATR-based levels. This makes the tool useful for:

Identifying likely stop-loss clusters below bullish candles or above bearish candles.

Anticipating liquidity sweeps and fakeouts.

Supporting breakout or reversal strategies.

Key Features:

Customizable ATR length, multiplier, number of recent candles, and line thickness.

Separate colors for bullish and bearish candle levels.

Automatic real-time updates for each new bar.

Clean overlay on the main price chart.

Inputs:

ATR Length → Period used for ATR calculation.

Multiplier → Factor applied to the ATR distance.

Number of Candles → How many recent candles to track.

Line Thickness and Colors → Full visual customization.

Usage Tip:
These levels can be combined with key market structure points such as support/resistance, trendlines, or the 200 EMA to anticipate high-probability price reactions.