What is the best ATR multiplier setting?

As a cryptocurrency trader, I'm often faced with the question of optimizing my trading strategies. One of the key parameters I need to consider is the ATR (Average True Range) multiplier setting. Could you elaborate on what factors should be taken into account to determine the best ATR multiplier setting? Does it depend on the volatility of the market? The trading timeframe? Or perhaps the specific trading strategy I'm employing? I'm keen to understand how adjusting this setting can impact my trading performance and risk management.