OPEN-SOURCE SCRIPT
Trend Leadership Eligibility Weekly
Trend Leadership Eligibility Weekly
Overview
Trend Leadership Eligibility Weekly is a higher-timeframe structural classification tool designed to evaluate whether a symbol meets defined weekly trend and relative strength criteria.
The indicator operates on confirmed weekly data and classifies symbols into a binary structural state:
Eligible or Not Eligible
It is intended for screening, structural analysis, and research workflows.
It does not generate trading signals and does not execute orders.
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Methodology
Eligibility is determined using three independent weekly evaluations:
1. Relative Strength Trend
The ratio of symbol price to a user-defined benchmark is calculated and smoothed. Directional alignment is validated using moving average structure and slope conditions.
2. Volatility-Normalized Trend Smoothness
Weekly price variability (standard deviation of closes) is normalized by ATR to evaluate structural orderliness relative to volatility.
3. Weekly Range Structure Positioning
The current weekly range is assessed within its historical expansion–contraction distribution to evaluate structural tightness.
Classification requires simultaneous confirmation across all three components.
If any condition fails, the symbol is classified as Not Eligible.
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Design Characteristics
• Weekly timeframe evaluation
• Non-repainting (lookahead = barmerge.lookahead_off)
• Confirmed higher-timeframe data usage
• Overlay compatible for daily chart workflows
• Alert conditions available for eligibility state transitions
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Intended Use
This tool may be used for:
• Watchlist filtering
• Higher-timeframe structural gating
• Portfolio research
• Market context evaluation
It is not a trading system and does not provide entry or exit instructions.
________________________________________
Important Notice
This script is provided for informational and educational purposes only.
All trading involves risk. No methodology guarantees future performance.
Overview
Trend Leadership Eligibility Weekly is a higher-timeframe structural classification tool designed to evaluate whether a symbol meets defined weekly trend and relative strength criteria.
The indicator operates on confirmed weekly data and classifies symbols into a binary structural state:
Eligible or Not Eligible
It is intended for screening, structural analysis, and research workflows.
It does not generate trading signals and does not execute orders.
________________________________________
Methodology
Eligibility is determined using three independent weekly evaluations:
1. Relative Strength Trend
The ratio of symbol price to a user-defined benchmark is calculated and smoothed. Directional alignment is validated using moving average structure and slope conditions.
2. Volatility-Normalized Trend Smoothness
Weekly price variability (standard deviation of closes) is normalized by ATR to evaluate structural orderliness relative to volatility.
3. Weekly Range Structure Positioning
The current weekly range is assessed within its historical expansion–contraction distribution to evaluate structural tightness.
Classification requires simultaneous confirmation across all three components.
If any condition fails, the symbol is classified as Not Eligible.
________________________________________
Design Characteristics
• Weekly timeframe evaluation
• Non-repainting (lookahead = barmerge.lookahead_off)
• Confirmed higher-timeframe data usage
• Overlay compatible for daily chart workflows
• Alert conditions available for eligibility state transitions
________________________________________
Intended Use
This tool may be used for:
• Watchlist filtering
• Higher-timeframe structural gating
• Portfolio research
• Market context evaluation
It is not a trading system and does not provide entry or exit instructions.
________________________________________
Important Notice
This script is provided for informational and educational purposes only.
All trading involves risk. No methodology guarantees future performance.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.