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