It seems very similar to a "Chandelier Exit" but possible your idea is in reverse!
Here is a link from the Code Base, but it is coded in the old style: https://www.mql5.com/en/code/7249
So do a search here and on Google to see if you find one in the new style of MQL4+ coding.
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I had been thinking on how to make this indicator. In EA its easier, but im new in using array in making an indicator.
ATRsupport is the reverse.
Any advice?