Average True Range / Momentum Burst Indicator

I recently received a question about my ATR Momentum Burst indicator I include on many of my charts.  (3rd window).

The Bullish / Bearish Range should be well-known to many traders as it is the 4% spike.   I have a volume requirement on mine, so the Bullish burst would be:

" C >= 1.04 * C1 and V >= 100000 AND V > V1"


 It's my belief that momentum burst is more significant if it comes during a quiet period. To make that determination I plotted an ATR within that window:

Select "Average True Range"and have it scaled by itself.  Once you select the ATR it may be edited for the number of periods. I believe that the default setting is Average True Range 14. I used 7 -- which is a week and 1/2 of trading days-- but feel free to play with it depending on your needs.

I picked the area plot style with a fill, because I want to see the Momentum burst pop out of that range. 

Finally, keep in mind that this is not a primary  indicator.  The setup trumps everything else.  Second for me is volume.  If those conditions are met, this indicator tells me the significance I should attach to the move.