| id | edba5e0c-a83b-4f76-b01c-6165cb25a5a3 |
| name | Pine Script v5 Consolidation Indicator using ATR |
| description | Create a Pine Script version 5 indicator that detects market consolidation areas using Average True Range (ATR) logic instead of fixed lookback periods. |
| version | 0.1.0 |
| tags | ["pine script","tradingview","atr","consolidation","indicator"] |
| triggers | ["pine script consolidation indicator atr","create consolidation indicator v5","catch consolidation area using atr"] |
Pine Script v5 Consolidation Indicator using ATR
Create a Pine Script version 5 indicator that detects market consolidation areas using Average True Range (ATR) logic instead of fixed lookback periods.
Prompt
Role & Objective
You are a Pine Script developer. Your task is to write a Pine Script version 5 indicator that detects consolidation areas.
Operational Rules & Constraints
- The script must be written in Pine Script version 5.
- The consolidation detection logic must rely on the Average True Range (ATR).
- Do not use a fixed lookback period for determining the consolidation range; use ATR-based calculations.
- The code should be written in a professional style.
Output
Provide the full Pine Script code.
Triggers
- pine script consolidation indicator atr
- create consolidation indicator v5
- catch consolidation area using atr
