Volatility Percentile (H-LINES)A simple script that adjusts the Volatility Percentile Indicator visibly in order to better accommodate entries/exits and certain trading setups/strategies.
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TL;DR - Remember after a full reset, we are looking for initial crosses UP on the UpperSwingline and crosses DOWN on the LowerSwingline for primary and secondary signal derivation.
Vice versa also works great but the prior method mentioned is a little more consistent in my experience, but you should mess around and optimise this for your own setups and strategies anyway.
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ORIGINAL SCRIPT HERE:
^Click image for a redirect to that script.
ALL CREDIT GOES TO: www.tradingview.com
He wrote everything so give credit where it's due, good bit of kit this here script is.
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HOW I USE MY VISUALLY ALTERED VERSION OF THIS SCRIPT
First of all, the alterations I've made seem only to be consistently viable with renko charts though if you can get the sought after results using candles or any other chart type then perfect, but be wary. All my back-testing done only with LinReg, HMA and SWMA - ATR type settings exclusively on renko charts. The changes I've made to the original script essentially just turns it visibly into an oscillator and uses a couple horizontal lines to generate signals, very simple - absolutely nothing has changed in the actual code of calculating this indicator.
What I believe my adjustments have achieved is quite simple. A full reset/oscillation on the indicator tries to map the strongest parts of a move or at least the part of the move where volume and the rate of transactions is at its peak to even facilitate said move. *take this statement with a pinch of salt though I do believe it's interacting with accumulation/distribution patterns, which is expected of volatility*
For ease of communication let's refer to the area between the the first UpperSwingline cross to the subsequent LowerSwingline cross, as the primary move. Then afterwards when it crosses the UpperSwingline again to make the full reset, the area in between those two points referred to as the secondary move.
Though more interestingly/practically the indicator ends up giving you two signals. In order for this to work we have to first decide that a spike up in volatility which crosses the UpperSwingline implies a significant level of interest at that price level. Usually that means a reversal is brewing, if price has already moved, trended and is approaching a certain area of value; which causes a spike of new positions to be taken, then you know that this is a level where contrarians are looking to enter. Now here's the tricky part, when volatility crosses the LowerSwingline price action becomes a little more open for interpretation, the way I personally like to look at this secondary signal is the potential for an exhaustion period to prolong itself a little longer. I know that's not the perfect analysis for what's going on, a more in-depth look into what's going on would best be described using Elliott Wave Theory, if a cross on the UpperSwingline near a significant area of value gives us a reversal trade lets just assume for the sake of argument that a new Elliott Wave can begin forming here. Making the move from that initial UpperSwngline cross to the cross on the LowerSwingline, the area that encompasses those two points: the impulse wave. After this point my analogy kind of falls apart and sadly my knowledge just isn't what it needs to be in order for me to properly analyse what's going on here but I must digress. Price after crossing the LowerSwingline up until the point where it makes a full reset by crossing the UpperSwingline again, within this area price seems to do either one of two things:
Situation 1 - Most likely occurs after a major trend reversal from major support/resistance or area of value (price has trended to new territory, maybe spent time a little time consolidating but hasn't broken the key level, momentum shifts, price action breaks current structure and you get the signal that primary move is a reversal) = Exhaustion Period, price will continue in direction of primary move during the secondary move. This here is for our trend-followers, you wanna take a continuation trade? Just wait for the pullback/rally to hit a FiB retracement level and enter - or any other means to find a decent support/resistance to enter.
Situation 2 - Most likely occurs when market enters a range or consolidation (price was previously seen as being at either a discount or premium so Situation 1 could have already played out and now you're looking at a full reset after that, imagine this spot to be the centre line of a linear regression channel or bang in the middle of your range, could even occur if price breaks a key moving average and decides it ought to consolidate around it for a while. Basically at any point where a somewhat prolonged consolidation is expected and not a quick reversal) = Corrective Wave, price will move against the direction of primary move during the secondary move. Now you might be expecting me to say this ones for you reversal traders but not really, if this is occurring then there probably isn't a definitive direction the market has chosen so you can use this opportunity to take range trades in the direction or against the direction of whatever the current trend or latest trend was depending on whatever slight bias you may have. <--- Situation 2 is very useful for finding cleaner entries if you do have a trend bias, say price underwent Situation 1, is now at key moving average but your bias is that it will break and continue up, so you wait and allow the secondary move of Situation 2 to take your entry to a much better R:R before entering a position.
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스크립트에서 "renko"에 대해 찾기
Combo 4+ KDJ STO RSI EMA3 Visual Trend Pine V5@RL! English !
Combo 4+ KDJ STO RSI EMA3 Visual Trend Pine V5 @ RL
Combo 4+ KDJ STO RSI EMA3 Visual Trend Pine V5 @ RL is a visual trend following indicator that groups and combines four trend following indicators. It is compiled in PINE Script Version V5 language.
• STOCH: Stochastic oscillator.
• RSI Divergence: Relative Strength Index Divergence. RSI Divergence is a difference between a fast and a slow RSI.
• KDJ: KDJ Indicator. (trend following indicator).
• EMA Triple: 3 exponential moving averages (Default display).
This indicator is intended to help beginners (and also the more experienced ones) to trade in the right direction of the market trend. It allows you to avoid the mistakes of always trading against the trend.
The calculation codes of the different indicators used are standard public codes used in the usual TradingView coding for these indicators.
The STO indicator calculation script is taken from TradingView's standard STOCH calculation.
The RSI indicator calculation script is a replica of the one created by @Shizaru.
The KDJ indicator calculation script is a replica of the one created by @iamaltcoin.
The Triple EMA indicator calculation script is a replica of the one created by @jwilcharts.
This indicator can be configured to your liking. It can even be used several times on the same graph (multi-instance), with different configurations or display of another indicator among the four that compose it, according to your needs or your tastes.
A single plot, among the 4 indicators that make it up, can be displayed at a time, but either with its own trend or with the trend of the 4 (3 by default) combined indicators (sell=green or buy=red, background color).
Trend indications (potential sell or buy areas) are displayed as a background color (bullish: green or bearish: red) when at least three of the four indicators (3 by default and configurable from 1 to 4) assume that the market is moving in the same direction. These trend indications can be configured and displayed, either only for the signal of the selected indicator and displayed, or for the signals of the four indicators together and combined (logical AND).
You can tune the input, style and visibility settings of each indicator to match your own preferences or habits.
A 'buy stop' or 'sell stop' signal is displayed (layouts) in the form of a colored square (green for 'stop buy' and red for 'stop sell'. These 'stop' signals can be configured and displayed, either only for the indicator chosen, or for the four indicators together and combined (logical OR).
Note that the presence of a Stop Long signal cancels the background color of the Long trend (green).
Likewise, the presence of a Stop Short signal cancels out the background color of the Short trend (red).
It is also made up of 3 labels:
• Trend Label
• signal Stop Label (signals Stop buy or sell )
• Info Label (Names of Long / Short / Stop Long / Stop Short indicators, and / Open / Close / High / Low ).
Each label is configurable (visibility and position on the graph).
• Trend label: indicates the number of indicators suggesting the same trend (Long or Short) as well as a strength index (PWR) of this trend: For example: 3 indicators in Short trend, 1 indicator in Long trend and 1 indicator in neutral trend will give: PWR SHORT = 2/4. (3 Short indicators - 1 Long indicator = 2 Pwr Short). And if PWR = 0 then the display is "Wait and See". It also indicates which current indicator is displayed and the display mode used (combined 1 to 4 indicators or not combined ).
• Signal Stop Label: Indicates a possible stop of the current trend.
• Label Info (Simple or Full) gives trend info for each of the 4 indicators and OHLC info for the chart (in “Full” mode).
It is possible to display this indicator several times on a chart (up to 3 indicators max with the Basic TradingView Plan and more with the paid plans), with different configurations: For example:
• 1-Stochastic - 2/4 Combined Signals - no Label displayed
• 1-RSI - Combined Signals 3/4 - Stop Label only displayed
• 1-KDJ - Combined Signals 4/4 - the 3 Labels displayed
• 1-EMA'3 - Non-combined signals (EMA only) - Trend Label displayed
Some indicators have filters / thresholds that can be configured according to your convenience and experience!
The choice of indicator colors is suitable for a graph with a "dark" theme, which you will probably need to modify for visual comfort, if you are using a "Light" mode or a custom mode.
This script is an indicator that you can run on standard chart types. It also works on non-standard chart types but the results will be skewed and different.
Non-standard charts are:
• Heikin Ashi (HA)
• Renko
• Kagi
• Point & Figure
• Range
As a reminder: No indicator is capable of providing accurate signals 100% of the time. Every now and then, even the best will fail, leaving you with a losing deal. Whichever indicator you base yourself on, remember to follow the basic rules of risk management and capital allocation.
BINANCE:BTCUSDT
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! Français !
Combo 4+ KDJ STO RSI EMA3 Visual Trend Pine V5@RL
Combo 4+ KDJ STO RSI EMA3 Visual Trend Pine V5@RL est un indicateur visuel de suivi de tendance qui regroupe et combine quatre indicateurs de suivi de tendance. Il est compilé en langage PINE Script Version V5.
• STOCH : Stochastique.
• RSI Divergence : Relative Strength Index Divergence. La Divergence RSI est une différence entre un RSI rapide et un RSI lent.
• KDJ : KDJ Indicateur. (indicateur de suivi de tendance).
• EMA Triple : 3 moyennes mobiles exponentielles (Affichage par défaut).
Cet indicateur est destiné à aider les débutants (et aussi les plus confirmé) à trader à dans le bon sens de la tendance du marché. Il permet d'éviter les erreurs qui consistent à toujours trader à contre tendance.
Les codes de calcul des différents indicateurs utilisés sont des codes publics standards utilisés dans le codage habituel de TradingView pour ces indicateurs !
Le script de calcul de l’indicateur STO est issu du calcul standard du STOCH de TradingView.
Le script de calcul de l’indicateur RSI Div est une réplique de celui créé par @Shizaru.
Le script de calcul de l’indicateur KDJ est une réplique de celui créé par @iamaltcoin.
Le script de calcul de l’indicateur Triple EMA est une réplique de celui créé par @jwilcharts
Cet indicateur peut être configuré à votre convenance. Il peut même être utilisé plusieurs fois sur le même graphique (multi-instance), avec des configurations différentes ou affichage d’un autre indicateur parmi les quatre qui le composent, selon vos besoins ou vos goûts.
Un seul tracé, parmi les 4 indicateurs qui le composent, peut être affiché à la fois mais, soit avec sa propre tendance soit avec la tendance des 4 (3 par défaut) indicateurs combinés (couleur de fond vente=vert ou achat=rouge).
Les indications de tendance (zones de vente ou d’achat potentielles) sont affichés sous la forme de couleur de fond (Haussier : vert ou baissier : rouge) lorsque au moins trois des quatre indicateurs (3 par défaut et configurable de 1 à 4) supposent que le marché évolue dans la même direction. Ces indications de tendance peuvent être configuré et affichés, soit uniquement pour le signal de l’indicateur choisi et affiché, soit pour les signaux des quatre indicateurs ensemble et combinés (ET logique).
Vous pouvez accorder les paramètres d’entrée, de style et de visibilité de chacun des indicateurs pour correspondre à vos propres préférences ou habitudes.
Un signal ‘stop achat’ ou ‘stop vente’ est affiché (layouts) sous la forme d’un carré de couleur (vert pour ‘stop achat’ et rouge pour ‘stop vente’. Ces signaux ‘stop’ peuvent être configuré et affichés, soit uniquement pour l’indicateur choisi, soit pour les quatre indicateurs ensemble et combinés (OU logique).
A noter que la présence d’un signal Stop Long annule la couleur de fond de la tendance Long (vert).
De même, la présence d’un signal Stop Short annule la couleur de fond de la tendance Short (rouge).
Il est aussi composé de 3 étiquettes (Labels) :
• Trend Label (infos de tendance)
• Signal Stop Label (signaux « Stop » achat ou vente)
• Infos Label (Noms des indicateurs Long/Short/Stop Long/Stop Short,
et /Open/Close/High/Low )
Chaque label est configurable (visibilité et position sur le graphique).
• Label Trend : indique le nombre d’indicateurs suggérant une même tendance (Long ou Short) ainsi qu’un indice de force (PWR) de cette tendance :
Par exemple : 3 indicateurs en tendance Short, 1 indicateur en tendance Long et 1 indicateur en tendance neutre donnera :
PWR SHORT = 2/4. (3 indicateurs Short – 1 indicateur Long=2 Pwr Short).
Et si PWR=0 alors l’affichage est « Wait and See » (Attendre et Observer).
Il indique aussi quel indicateur actuel est affiché et le mode d’affichage utilisé (combiné 1 à 4 indicateurs ou non combiné ).
• Signal Stop Label : Indique un possible arrêt de la tendance en cours.
• Infos Label (Simple ou complet) donne les infos de tendance de chacun des 4 indicateurs et les infos OHLC du graphique (en mode « Complet »).
Il est possible d’afficher ce même indicateur plusieurs fois sur un graphique (jusqu’à 3 indicateurs max avec le Plan Basic TradingView et plus avec les plans payants), avec des configurations différentes :
Par exemple :
• 1-Stochastique – Signaux Combinés 2/4 – aucun Label affiché
• 1-RSI – Signaux Combinés 3/4 – Label Stop uniquement affiché
• 1-KDJ – Signaux Combinés 4/4 – les 3 Labels affichés
• 1-EMA’3 - Signaux Non combinés (EMA seuls) – Trend Label affiché
Certains indicateurs ont des filtres/seuils (Thresholds) configurables selon votre convenance et votre expérience !
Le choix des couleurs de l’indicateur est adapté pour un graphique avec thème « sombre », qu’il vous faudra probablement modifier pour le confort visuel, si vous utilisez un mode « Clair » ou un mode personnalisé.
Ce script est un indicateur que vous pouvez exécuter sur des types de graphiques standard. Il fonctionne aussi sur des types de graphiques non-standard mais les résultats seront faussés et différents.
Les graphiques Non-standard sont :
• Heikin Ashi (HA)
• Renko
• Kagi
• Point & Figure
• Range
Pour rappel : Aucun indicateur n’est capable de fournir des signaux précis 100% du temps. De temps en temps, même les meilleurs échoueront, vous laissant avec une affaire perdante. Quel que soit l’indicateur sur lequel vous vous basez, n’oubliez pas de suivre les règles de base de gestion des risques et de répartition du capital.
BINANCE:BTCUSDT
NVME Candles Creator Experimental //Note://
This is an experimental indicator that may provide you with useful information or it may not depending on how you use it and more information can be found below!
NVME Candle Creator indicator is an experimental indicator that allows you as the user to build your own candlestick system within a click of a button. The indicator uses data from 5 different chart series including the following: The default candle stick, Heikin Ashi, Renko (ATR Version), Kagi and the Point and Figure chart. Since there are 4 pieces of data from a candle plot such as the open, the close, the high and the low, we are able to edit each individually with our own data using the security() function and the chart series functions that are linked to the those specific charts. This indicator is designed to be used as a second chart alternative without having to take much screen space, however there are other uses to it such as using this indicator to find information about other chart types and possibly creating a noise free chart series using our integrated colour scheme system.
The features of this indicator are the following:
Sources (1-4) : These are customisable by changing the item listed on the drop down menu, the items displayed will be data from the charts such as open, close, high, low, hl2, hl3, and ohcl etc. There are 4 of these inputs as this will change the data that you are grabbing for the series. (Series 1 -> Close, Series 2 -> Open, Series 3 -> High, Series 4 -> Low)
Candle Style (1-4) : This is the chart series we will be using to get the final output of the indicator, this can be changed by selecting a different item in the dropdown menu. The following content of this drop down menu are: Default (Japanese Candlesticks), Heikin Ashi Candlesticks, ATR (Renko Version), Kagi and Point and Figure. These will strongly determine the final output of the indicator as they can change what data will be represented and how it will be displayed.
Length (1-4) : The value in this input field only affects the following candle style options: ATR, Kagi and Point and Figure. The reason is because these chart series include a customisable input in the form of reversal points or ATR value. Changing this value will determine the final design of the indicator as it can make the candles larger or smaller depending on the number inside the box.
Custom Timeframe (1-4) : This toggle will allow you to fetch data from a different timeframe of choice, however disabling this will fetch data from the current timeframe period.
Timeframe Value (1-4) : This input field is only active when the custom timeframe is enabled and this will change the security function so that it grabs data from the timeframe inputted and this can change the indicator's output so that the candles will look different but it doesn't have a significant change compared to the candle style feature.
Colour Filter: (Affects the candles plotted)
Option 1: "Close > Open" - Recolours the candles in a manner where candles will be green if that candle is greater than the open and the candles will be red if the close is less than the open.
Option 2: "Close < Open" - Recolours the candles in a manner where candles will be red if that candle is greater than the open and the candles will be green if the close is less than the open. (May be useful for some settings where the plots are different) - Use this as a colour correction.
Option 3: "None" - The colours will be removed so you will have to manually change it.
Dashboard: This can be turned off or turned on however it doesn't contain anything useful only a reminder that it isn't recommended to use this indicator alone as it is designed as an experimental indicator.
R-Candlesjust a modify type of renko candles
it not renko but it use some of it princeples
red is bearish
lime is bullish
the ATR length control how this candles behave
Brick ZoneBrick Zone
Bullish patterns can be traded when the brick count indicator is in a bullish zone while bearish patterns can be traded when it is in a bearish zone. Brick Zone indicator specially designed for renko chart. The brick zone indicator oscillates around the zero line and can also become negative. It will show a positive value when the number of bullish bricks is greater than zero and will turn up a negative value when the number lesser than zero.
Brick Zone = Number of Bullish Bricks – Number of Bearish Bricks
Above zero – Market Bullish
Below Zero – Market Bearish
This indicator inventor name is “Prashant Shah” and this indicator introduced in “Profitable Trading With Renko Chart” Book.
[RESEARCH] Point-and-Figure (P&F) Chart Identifier(Republishing of the hidden script)
A heuristic approach to identify P&F chart type. Catches all variations.
Works correctly with other chart types:
Classic Candles
Heikin-Ashi
Line Break
Kagi
ATR Renko
Traditional Renko
Range Bars
[RESEARCH] Heikin-Ashi Chart IdentifierA deterministic approach to identify Heikin-Ashi chart type.
The script checks the next statements about HA:
HA chart does not have any gaps in a classic sense
Every new HA open price is calculated using a specific recurrence formula. This fact also means that initial HA open price is used to calculate all the next and so on (a construction of Infinite Impulse Response filters)
The script works correctly being applied to other chart types:
Classic Candlestick
Range Bars
Line Break
Traditional Renko
ATR Renko
Traditional Point-and-Figure
ATR Point-and-Figure
Kagi
For special ones: this code allows you to check whether your script is being executed with Heikin-Ashi candles or not inside your script.
Ev sistr 'ta Laou!
[RESEARCH] Kagi Chart IdentifierA heuristic approach to identify Kagi chart type.
This tool allows to identify:
ATR Kagi charts (see ^)
Traditional Kagi charts
Works correctly with other chart types:
Classic Candles
Heikin-Ashi
Line Break
PnF
ATR Renko
Traditional Renko
Range Bars
Do not forget @everget
Simple LinesIntroduction
Making lines is great in technical analysis since it can highlights principal movements and make the analysis of the price easier when using certain methodologies (Elliott Waves, patterns).
However most of the indicators making lines (Zig-Zag, simple linear regression) are non causal (repaint), this is the challenge i tried to overcome, making an indicator capable of making lines in a smart way (able to follow price without loosing a linear approach) and with the least lag possible, i inspired myself from the behaviour of the renko when using a small brick size. This indicator does not repaint .
The code is short and i hope, understandable for all of you, making lines is not a difficult task and its important to know that when a problem appear complex it does not mean that the code used to solve this problem must be complex. Lets see the indicator in details.
The indicator
The indicator have 4 parameters, the length parameter who control the length of lines, the emphasis parameter who control the stability and also the ability to make lines closer to the price (thus minimizing the sum of squares) , the mult parameter which is similar to emphasis and a point option that we will discuss later.
When emphasis and mult are both equal to 1 the indicator will sometimes draw a perfect line, however this line will try to follow the price and thus can create a noisy result.
This is where emphasis and mult will correct this behaviour. The emphasis parameter give a more periodic look as well as some control to the lines but can also destroy them.
This should not happen with mult , this parameter also give more predictability to the lines. Overall it correct the drawbacks of the parameters combinations mentioned earlier.
Its also possible to mix both the emphasis and mult parameter, but take into account that when both are equals the result consist of less reactive lengthy lines with low accuracy. Its better to only use one of them and let the other stay to 1.
Point Option
The indicator can sometimes have a weird look, appearing almost flat or just dont appearing at all. When such thing happen use the point option.
XPDUSD without point option.
with point option :
Time Frame Problem and Its Fix
When using higher time-frames the result of the indicator can appear different, in general the higher the time frame the lengthier are the lines. In order to fix this you can use decimals in the length parameter
length and mult both equal to 5.5, emphasis cant use decimals.
Conclusion
I have highlighted a simple way to make use of the small renko box size method in order to return reactive lines without making the indicator repaint. However Its ability to be close to the price as well as being always super reactive is not a guarantee.
For any suggestion/help feel free to pm me, i would be happy to help you :)
Intraday System V.3This indicator good for Intraday. It'll give signal through colours. Go long when green colour appears and go short when red colour appear.
Take a trade on candle high above (long) and low below (short). I've made few modification from Mr.Johnman scripts for Better results for Indian traders. Thanks to him.
For Target and stop loss ;
Open Renko chart from your broker trading platform and find the Renko bar settings, here you'll find "Set Range". Those value will be your SL & Target.
Make sure take a trade above / below candle once colours appears.
With Regard's
Kaliyamoorthi
Just Believe Trading Community.
DSS Indicator V.2This is an indicator which can be used as a Decision Support System (DSS). In this version Renko chart is used.
How to use:
1- Select the Renko chart.
2- Buy, when the background is green; Sell, when the background is red.
Profits_blocks_Signals_PremiumThis indicator is intended to be used with renko chart that uses traditional fixed box size.
I suggest using ATR indicator on 34 periods on a standard candlestick chart to determine the box size. You can re-adjust the box size every few days to keep it up with the latest volatility.
if this indicator's value =1 then buy, else sell.
It is applicable to any chart any asset any TF.
It is based on price action only no TA indicators were used and no optimization is needed apart from maintaining box size.
If you don't want to use alerts (to auto trade through autoview or 3commas), then you can set the Renko chart to ATR mode where the box size is auto calculated.
Happy chain of Profits' blocks in queuing towards your pocket ^^
Best Regards,
Algo King
Fractal Framer added buy sellThis script was written by Brobear and published. I only modified by adding buy and sell signal when price crossover fractal channel.
buy_breakout=crossover(close,fracLevelHigh) and OsMA >OsMA and emaRSI >emaRSI
sell_breakout=crossunder(close,fracLevelLow) and OsMA
Daily Levels + Pivot + VWAP + LRC + Bollinger + Session BiasAdded several indicators to help traders to create price action strategy. All lines of this indicator are fully non repaint and will never vanish even in the most volatile condition on any chart even on Renko. Try it...
C&B Auto MK5C&B Auto MK5.2ema BullBear
Overview
The C&B Auto MK5.2ema BullBear is a versatile Pine Script indicator designed to help traders identify bullish and bearish market conditions across various timeframes. It combines Exponential Moving Averages (EMAs), Relative Strength Index (RSI), Average True Range (ATR), and customizable time filters to generate actionable signals. The indicator overlays on the price chart, displaying EMAs, a dynamic cloud, scaled RSI levels, bull/bear signals, and market condition labels, making it suitable for swing trading, day trading, or scalping in trending or volatile markets.
What It Does
This indicator generates bull and bear signals based on the interaction of two EMAs, filtered by RSI thresholds, ATR-based volatility, a 50/200 EMA trend filter, and user-defined time windows. It adapts to market volatility by adjusting EMA lengths and RSI thresholds. A dynamic cloud highlights trend direction or neutral zones, with candlestick coloring in neutral conditions. Market condition labels (current and historical) provide real-time trend and volatility context, displayed above the chart.
How It Works
The indicator uses the following components:
EMAs: Two EMAs (short and long) are calculated on a user-selected timeframe (1, 5, 15, 30, or 60 minutes). Their crossover or crossunder triggers potential bull/bear signals. EMA lengths adjust based on volatility (e.g., 10/20 for volatile markets, 5/10 for non-volatile).
Dynamic Cloud: The area between the EMAs forms a cloud, colored green for bullish trends, red for bearish trends, or a user-defined color (default yellow) for neutral zones (when EMAs are close, determined by an ATR-based threshold). Users can widen the cloud for visibility.
RSI Filter: RSI is scaled to price levels and plotted on the chart (optional). Signals are filtered to ensure RSI is within volatility-adjusted bull/bear thresholds and not in overbought/oversold zones.
ATR Volatility Filter: An optional filter ensures signals occur during sufficient volatility (ATR(14) > SMA(ATR, 20)).
50/200 EMA Trend Filter: An optional filter restricts bull signals to bullish trends (50 EMA > 200 EMA) and bear signals to bearish trends (50 EMA < 200 EMA).
Time Filter: Signals are restricted to a user-defined UTC time window (default 9:00–15:00), aligning with active trading sessions.
Market Condition Labels: Labels above the chart display the current trend (Bullish, Bearish, Neutral) and optionally volatility (e.g., “Bullish Volatile”). Up to two historical labels persist for a user-defined number of bars (default 5) to show recent trend changes.
Visual Aids: Bull signals appear as green triangles/labels below the bar, bear signals as red triangles/labels above. Candlesticks in neutral zones are colored (default yellow).
The indicator ensures compatibility with standard chart types (e.g., candlestick or bar charts) to produce realistic signals, avoiding non-standard types like Heikin Ashi or Renko.
How to Use It
Add to Chart: Apply the indicator to a candlestick or bar chart on TradingView.
Configure Settings:
Timeframe: Choose a timeframe (1, 5, 15, 30, or 60 minutes) to match your trading style.
Filters:
Enable/disable the ATR volatility filter to focus on high-volatility periods.
Enable/disable the 50/200 EMA trend filter to align signals with the broader trend.
Enable the time filter and set custom UTC hours/minutes (default 9:00–15:00).
Cloud Settings: Adjust the cloud width, neutral zone threshold, color, and transparency.
EMA Colors: Use default trend-based colors or set custom colors for short/long EMAs.
RSI Display: Toggle the scaled RSI and its thresholds, with customizable colors.
Signal Settings: Toggle bull/bear labels and set signal colors.
Market Condition Labels: Toggle current/historical labels, include/exclude volatility, and adjust decay period.
Interpret Signals:
Bull Signal: A green triangle or “Bull” label below the bar indicates potential bullish momentum (EMA crossover, RSI above bull threshold, within time window, passing filters).
Bear Signal: A red triangle or “Bear” label above the bar indicates potential bearish momentum (EMA crossunder, RSI below bear threshold, within time window, passing filters).
Neutral Zone: Yellow candlesticks and cloud (if enabled) suggest a lack of clear trend; consider range-bound strategies or avoid trading.
Market Condition Labels: Check labels above the chart for real-time trend (Bullish, Bearish, Neutral) and volatility status to confirm market context.
Monitor Context: Use the cloud, RSI, and labels to assess trend strength and volatility before acting on signals.
Unique Features
Volatility-Adaptive EMAs: Automatically adjusts EMA lengths based on ATR to suit volatile or non-volatile markets, reducing manual configuration.
Neutral Zone Detection: Uses an ATR-based threshold to identify low-trend periods, helping traders avoid choppy markets.
Scaled RSI Visualization: Plots RSI and thresholds directly on the price chart, simplifying momentum analysis relative to price.
Flexible Time Filtering: Supports precise UTC-based trading windows, ideal for day traders targeting specific sessions.
Historical Market Labels: Displays recent trend changes (up to two) with a decay period, providing context for market shifts.
50/200 EMA Trend Filter: Aligns signals with the broader market trend, enhancing signal reliability.
Notes
Use on standard candlestick or bar charts to ensure accurate signals.
Test the indicator on a demo account to optimize settings for your market and timeframe.
Combine with other analysis (e.g., support/resistance, volume) for better decision-making.
The indicator is not a standalone system; use it as part of a broader trading strategy.
Limitations
Signals may lag in fast-moving markets due to EMA-based calculations.
Neutral zone detection may vary in extremely volatile or illiquid markets.
Time filters are UTC-based; ensure your platform’s timezone settings align.
This indicator is designed for traders seeking a customizable, trend-following tool that adapts to volatility and provides clear visual cues with robust filtering for bullish and bearish market conditions.
AlphaTrend++AlphaTrend++
Overview
The AlphaTrend++ is an advanced Pine Script indicator designed to help traders identify buy and sell opportunities in trending and volatile markets. Building on trend-following principles, it uses a modified Average True Range (ATR) calculation combined with volume or momentum data to plot a dynamic trend line. The indicator overlays on the price chart, displaying a colored trend line, a filled trend zone, buy/sell signals, and optional stop-loss tick labels, making it ideal for day trading or swing trading, particularly in markets like futures (e.g., MES).
What It Does
This indicator generates buy and sell signals based on the direction and momentum of a custom trend line, filtered by optional time restrictions and signal frequency logic. The trend line adapts to price action and volatility, with a filled zone highlighting trend strength. Buy/sell signals are plotted as labels, and stop-loss distances are displayed in ticks (customizable for instruments like MES). The indicator supports standard chart types for realistic signal generation.
How It Works
The indicator employs the following components:
Trend Line Calculation: A dynamic trend line is calculated using ATR adjusted by a user-defined multiplier, combined with either Money Flow Index (MFI) or Relative Strength Index (RSI) depending on volume availability. The line tracks price movements, adjusting upward or downward based on trend direction and volatility.
Trend Zone: The area between the current trend line and its value two bars prior is filled, colored green for bullish trends (upward movement) or red for bearish trends (downward movement), providing a visual cue of trend strength.
Signal Generation: Buy signals occur when the trend line crosses above its value two bars ago, and sell signals occur when it crosses below, with optional filtering to reduce signal noise (based on bar timing logic). Signals can be restricted to a 9:00–15:00 UTC trading window.
Stop-Loss Ticks: For each signal, the indicator calculates the distance to the trend line (acting as a stop-loss level) in ticks, using a user-defined tick size (default 0.25 for MES). These are displayed as labels below/above the signal.
Time Filter: An optional filter limits signals to 9:00–15:00 UTC, aligning with active trading sessions like the US market open.
The indicator ensures compatibility with standard chart types (e.g., candlestick or bar charts) to avoid unrealistic results associated with non-standard types like Heikin Ashi or Renko.
How to Use It
Add to Chart: Apply the indicator to a candlestick or bar chart on TradingView.
Configure Settings:
Multiplier: Adjust the ATR multiplier (default 1.0) to control trend line sensitivity. Higher values widen the stop-loss distance.
Common Period: Set the ATR and MFI/RSI period (default 14) for trend calculations.
No Volume Data: Enable if volume data is unavailable (e.g., for certain forex pairs), switching from MFI to RSI.
Tick Size: Set the tick size for stop-loss calculations (default 0.25 for MES futures).
Show Buy/Sell Signals: Toggle signal labels (default enabled).
Show Stop Loss Ticks: Toggle stop-loss tick labels (default enabled).
Use Time Filter: Restrict signals to 9:00–15:00 UTC (default disabled).
Use Filtered Signals: Enable to reduce signal frequency using bar timing logic (default enabled).
Interpret Signals:
Buy Signal: A blue “BUY” label below the bar indicates a potential long entry (trend line crossover, passing filters).
Sell Signal: A red “SELL” label above the bar indicates a potential short entry (trend line crossunder, passing filters).
Trend Zone: Green fill suggests bullish momentum; red fill suggests bearish momentum.
Stop-Loss Ticks: Gray labels show the stop-loss distance in ticks, helping with risk management.
Monitor Context: Use the trend line and filled zone to confirm the market’s direction before acting on signals.
Unique Features
Adaptive Trend Line: Combines ATR with MFI or RSI to create a responsive trend line that adjusts to volatility and market conditions.
Tick-Based Stop-Loss: Displays stop-loss distances in ticks, customizable for specific instruments, aiding precise risk management.
Signal Filtering: Optional bar timing logic reduces false signals, improving reliability in choppy markets.
Trend Zone Visualization: The filled zone between trend line values enhances trend clarity, making it easier to assess momentum.
Time-Restricted Trading: Optional 9:00–15:00 UTC filter aligns signals with high-liquidity sessions.
Notes
Use on standard candlestick or bar charts to ensure accurate signals.
Test the indicator on a demo account to optimize settings for your market and timeframe.
Combine with other analysis (e.g., support/resistance, volume spikes) for better decision-making.
The indicator is not a standalone system; use it as part of a broader trading strategy.
Limitations
Signals may lag in highly volatile or low-liquidity markets due to ATR-based calculations.
The 9:00–15:00 UTC time filter may not suit all markets; disable it for 24-hour assets like forex or crypto.
Stop-loss tick calculations assume consistent tick sizes; verify compatibility with your instrument.
This indicator is designed for traders seeking a robust, trend-following tool with customizable risk management and signal filtering, optimized for active trading sessions.
Adaptive Freedom Machine w/labelsAdaptive Freedom Machine w/ Labels
Overview
The Adaptive Freedom Machine w/ Labels is a versatile Pine Script indicator designed to assist traders in identifying buy and sell opportunities across various market conditions (trending, ranging, or volatile). It combines Exponential Moving Averages (EMAs), Relative Strength Index (RSI), Average True Range (ATR), and customizable time filters to generate actionable signals. The indicator overlays on the price chart, displaying EMAs, a dynamic cloud, scaled RSI levels, buy/sell signals, and market condition labels, making it suitable for swing trading, day trading, or scalping.
What It Does
This indicator generates buy and sell signals based on the interaction of two EMAs, filtered by RSI thresholds, ATR-based volatility, and user-defined time windows. It adapts to the selected market condition by adjusting EMA lengths, RSI thresholds, and trading hours. A dynamic cloud highlights trend direction or neutral zones, and candlestick bodies are colored in neutral conditions for clarity. A table displays real-time trend and volatility status.
How It Works
The indicator uses the following components:
EMAs: Two EMAs (short and long) are calculated on a user-selected timeframe (1, 5, 15, 30, or 60 minutes). Their crossover or crossunder generates potential buy/sell signals, with lengths adjusted based on the market condition (e.g., longer EMAs for trending markets, shorter for ranging).
Dynamic Cloud: The area between the EMAs forms a cloud, colored green for uptrends, red for downtrends, or a user-defined color (default yellow) for neutral zones (when EMAs are close, determined by an ATR-based threshold). Users can widen the cloud for visibility.
RSI Filter: RSI is scaled to price levels and plotted on the chart (optional). Signals are filtered to ensure RSI is within user-defined buy/sell thresholds and not in overbought/oversold zones, with thresholds tailored to the market condition.
ATR Volatility Filter: An optional filter ensures signals occur during sufficient volatility (ATR(14) > SMA(ATR, 20)).
Time Filter: Signals are restricted to a user-defined or market-specific time window (e.g., 10:00–15:00 UTC for volatile markets), with an option for custom hours.
Visual Aids: Buy/sell signals appear as green triangles (buy) or red triangles (sell). Candlesticks in neutral zones are colored (default yellow). A table in the top-right corner shows the current trend (Uptrend, Downtrend, Neutral) and volatility (High or Low).
The indicator ensures compatibility with standard chart types (e.g., candlestick charts) to produce realistic signals, avoiding non-standard types like Heikin Ashi or Renko.
How to Use It
Add to Chart: Apply the indicator to a candlestick or bar chart on TradingView.
Configure Settings:
Timeframe: Choose a timeframe (1, 5, 15, 30, or 60 minutes) to align with your trading style.
Market Condition: Select one market condition (Trending, Ranging, or Volatile). Volatile is the default if none is selected. Only one condition can be active.
Filters:
Enable/disable the ATR volatility filter to trade only in high-volatility periods.
Enable the time filter and choose default hours (specific to the market condition) or set custom UTC hours.
Cloud Settings: Adjust the cloud width, neutral zone threshold, and color. Enable/disable the neutral cloud.
RSI Display: Toggle the scaled RSI and its thresholds on the chart.
Interpret Signals:
Buy Signal: A green triangle below the bar indicates a potential long entry (EMA crossover, RSI above buy threshold, within time window, and passing volatility filter).
Sell Signal: A red triangle above the bar indicates a potential short entry (EMA crossunder, RSI below sell threshold, within time window, and passing volatility filter).
Neutral Zone: Yellow candlesticks and cloud (if enabled) suggest a lack of clear trend; avoid trading or use for range-bound strategies.
Monitor the Table: Check the top-right table for real-time trend (Uptrend, Downtrend, Neutral) and volatility (High or Low) to confirm market context.
Unique Features
Adaptive Parameters: Automatically adjusts EMA lengths, RSI thresholds, and trading hours based on the selected market condition, reducing manual tweaking.
Neutral Zone Detection: Uses an ATR-based threshold to identify low-trend periods, helping traders avoid choppy markets.
Scaled RSI Visualization: Plots RSI and thresholds directly on the price chart, making it easier to assess momentum relative to price action.
Flexible Time Filtering: Supports both default and custom UTC-based trading windows, ideal for day traders targeting specific sessions.
Dynamic Cloud: Enhances trend visualization with customizable width and neutral zone coloring, improving readability.
Notes
Use on standard candlestick or bar charts to ensure realistic signals.
Test the indicator on a demo account to understand its behavior in your chosen market and timeframe.
Adjust settings to match your trading strategy, but avoid over-optimizing for past data.
The indicator is not a standalone system; combine it with other analysis (e.g., support/resistance, news events) for better results.
Limitations
Signals may lag in fast-moving markets due to EMA-based calculations.
Neutral zone detection may vary in extremely volatile or illiquid markets.
Time filters are UTC-based; ensure your platform’s timezone settings align.
This indicator is designed for traders seeking a customizable, trend-following tool that adapts to different market environments while providing clear visual cues and robust filtering.
Alert on Candle CloseAlert on Candle Close is a simple indicator allowing you to set alerts when a candlestick closes.
Instructions for use
From the chart window, click on "Indicators" and search for "Alert on Candle Close".
Click on "Alert on Candle Close" to add the indicator to your chart. Click on the star icon to add it to your favourites to easily access later.
Set your chart timeframe to the timeframe you wish to alert on. For example, to create an alert when a 4h candlestick closes, set your chart to the "4h" timeframe.
Hover over the "Alert on Candle Close" indicator which has been added to your chart and click the ellipsis "..." icon, then click "Add alert on Alert on Candle Close" or use the keyboard shortcut "Alt+A" from the chart.
In the alert pop-up window, make sure "Condition" is set to "Alert on Candle Close" and "Trigger" is set to "Once Per Bar".
Optionally, you can set a custom expiry for the alert, give the alert a name and customise the alert message. You can configure notification settings from the "Notifications" tab.
Click "Create" and your alert is set up!
Each alert is tied to the timeframe and chart it was created on, so you can change the timeframe or asset and create more alerts by repeating the above process.
Note : this indicator is only designed to work with time-based chart types, such as Bars, Candles or Heikin Ashi. It will not work for non-time charts such as Renko.
FAQs
Why do my alerts sometimes not fire as soon as the candle closes?
This is a limitation with Pine Script's execution model. Indicators are calculated whenever a price or volume change occurs i.e. when a new trade happens. For illiquid or slow moving markets, there may be some time between when a candle closes and the next trade, leading to a delay in the alert triggering. The alert will trigger on the next tick of data on the chart.
Why can't I create more alerts?
TradingView has a limit on the number of active technical alerts you can have based on your membership tier. To configure more alerts, consider upgrading your TradingView plan to a higher tier. See a comparison of TradingView plans at www.tradingview.com
My alert only fired once, how can I get it to keep working?
When configuring the alert in the alert pop-up window, make sure you set "Trigger" to "Once Per Bar" and "Expiration" to "Open-ended alert".
TAS Boxes + TAS Vega + TAS Compass [TASMarketProfile]This bundle of 3 TAS Market Profile indicators provides a shaded background that reveals directional bias, colored price bars show clearly when breakout conditions are bullish (green) or bearish (red) as well as 3 real-time dotted lines that show developing commercial balance areas known as “value areas.” These TAS Boxes 3 lines are calculated in real-time and leveraged to identify trade entry zones, trailing stops and targets. The 3 indicators can be activated and applied to a chart simultaneously (as shown) or individually in the Inputs settings tab. This description contains descriptions for all 3 indicators in the order of TAS Boxes, TAS Vega and TAS Compass so you’ll need to scroll below to get to the one you want insight.
∟ ABOUT TAS BOXES:
TAS Boxes (also known as TAS Dynamic Profile) offers a dynamic representation of developing commercial balance areas known as “value areas” and are depicted with 3 colored horizontal dotted lines. Note that the thickness of the dotted lines may be adjusted in the Style settings.
Red Line- Supply / High Value Area (HVA) / Resistance
Cyan Line- Point of Control (POC)
Green Line- Demand / Low Value Area (LVA) / Support
The TAS Boxes calculate and display in real-time intrabar and are finalized at the close of the bar. The levels may dynamically update intrabar and move and this is viewed as foreshadowing of where new value areas may be attempting to appear next. When the market is between the top and bottom lines, the market is considered “in value” or “in balance.” When the market closes outside the top or bottom lines, the market is considered out of value/unbalanced and in breakout mode in that direction.
INPUT SETTINGS FOR TAS BOXES:
There are 3 inputs for TAS Boxes and below you’ll find the default settings:
MinSignal_123: 2 (only options are 1, 2, or 3)
Length: 7
MapLength: 7
MinSignal_123 -- Measures how established the commercial interest creating the balance area must be to create a new TAS Box. In other words, this input is a measure of the strength of the box.
Length –- Takes into consideration the relative “momentum” behind the move and how extended the move must be before the formation of new TAS Box levels.
MapLength –- Specifies the number of bars of data used to create the parameters of the TAS Box.
In summary, the first two inputs determine how often a new TAS Box will appear. The higher the input numbers the less often and harder it is to establish a new TAS Box, and vice versa. The last input simply determines how much data is included in the calculation of the new TAS Box.
While we recommend the default 2-7-7 as standard inputs for most traders as they work well with any tradable instrument with sufficient liquidity, other input combinations can be explored per the user’s preferences for varying sensitivity to market conditions and how recent of market conditions. Other settings to consider are 2-14-7 or 3-4-50. We invite the user to explore the cause and effect of changing the settings but doing so only after they have mastered an understanding of the strategy deployment with the defaults. The vast majority of users do not change the default settings.
WHAT MARKETS AND TIMEFRAMES CAN BE TRADED?
TAS Boxes can be displayed on Stocks, ETFs, futures, Forex and digital currencies. TAS Boxes can be applied to a chart of any time frame (e.g. 1-minute, 5-minute, 20-minute, daily, weekly, etc.) and will also function with many other style charts such as Range and Renko. Boxes displayed on longer time frames designate more significant balance areas and can be used to locate higher probability entries. Boxes on shorter time frames can be used to identify if the tradable instrument is currently in balance or breaking out, and pinpoint entries accordingly.
INTERPRETATION AND BASIC RULES:
HEIGHT OF BOXES: The height of the TAS Boxes from top line to bottom line is a measure of volatility. When taller Boxes are present and subsequent Boxes expand, this means the volatility of the market has increased. When the height of the Boxes is smaller or contracting, then we are experiencing a market in decreasing volatility or consolidating.
WIDTH OF BOXES: The width of the TAS Boxes are a measure of significance. The longer TAS Boxes have remained at the same levels, the higher the impact they will generally have as support or resistance levels, and in the instances they are breached the market may experience fast and vertical movement.
The TAS Boxes are used to identify high-probability zones for trading both inside the range of the Boxes and also when in breakout mode outside the Boxes:
>>> When price is trading within the boundaries of a normal to wide range commercial
balance area, we can consider trades within the range of the Boxes and should look for entries around the support (green line) or resistance (red line) areas with profit targets around the POC (cyan line) or opposite boundary.
>>> When taking trades near both the upper and lower boundaries, we like to see the POC
near the middle of the box’s range. This is known as a “symmetrical box” as pictured below.
>>> If the POC is plotted tightly close to or at the same price level as the green or red line, we refer to this as forming a “wall” or "plywood" and anticipate stronger commercial interest providing support or resistance in those areas.
>>> When trading above or below the current box, price is said to be in breakout/breakdown mode. During these modes, one should be getting out of any opposing positions that are not in the direction of the breakout. Not all breakout/breakdowns are created equal. Moves outside of TAS Boxes when the vertical distance from Top to Bottom is minimal will tend to have more powerful moves, especially in instances when there are recent long-range bars in the direction of the break.
>>> When markets are breaking out or down outside of Boxes, if there is sizeable space before you encounter recent historal TAS Boxes levels that is favorable for good follow through of the move. Prior TAS Boxes levels do serve as as areas the market may encounter friction and go sideways for a period of time.
MANAGING RISK WITH STOP LOSSES:
We highly recommend the use of stop losses when trading. You can place stop losses outside of the 3 lines of TAS Boxes and trail them behind the market as new Boxes appear in the direction of the trade. You may also move trailing stops among the 3 levels to suit your risk tolerance (e.g. when market is in breakout mode, trailing it from out the Boxes to outside the POC level or opposing level). You can start your initial stop outside the opposite of all 3 lines or on the other side of the POC for lower risk.
∟ ABOUT TAS VEGA:
TAS Vega changes the coloring of the price bars to provide a more meaningful interpretation of when markets are in balance (based on TAS Boxes) or in bullish/bearish breakout mode. There are four colors generated for TAS Vega:
GREEN – Bullish breakout / Don’t be short
RED – Bearish breakdown / Don’t be long
ORANGE – 1st bar back inside TAS Boxes after prior move outside.
GRAY – Balanced, each subsequent bar after the 1st bar closes inside Boxes.
INTERPRETATION AND BASIC RULES:
WHEN VEGA IS GREEN:
Don’t be short.
Consider longs only or retain existing long positions.
Entering on the bar close above the Boxes is higher probability than intrabar entry.
Many consecutive bar closes above Boxes increases probability of eventual move higher.
WHEN VEGA IS RED:
Don’t be long.
Consider shorts only or retain existing short positions.
Entering on the bar close below the Boxes is higher probability than intrabar entry.
Many consecutive bar closes below Boxes increases probability of eventual move lower.
WHEN VEGA IS ORANGE:
If orange due to closing back inside Boxes of your initial entry Box, hold.
If orange due to closing inside a new Box appearing in the direction of your trade (higher Boxes for longs, lower Boxes for short) consider this a potential 1st tier profit-taking opportunity for multi-lot/shares positions. If single units, exit is at the trader's discretion contingent on the extent of the move.
It is prudent risk management to also use the appearance of orange closed bars as a reminder to trail your stop loss behind the new TAS Boxes levels.
Many times you may see many orange bars over a series of bars (not consecutive, however) and this means the market continues to explore both sides of TAS Boxes and is indecisive about intentions. Be cautious at these times.
WHEN VEGA IS GRAY:
Gray bars simply means the bar has closed in balance within the value area of TAS Boxes.
Gray bars are not a cue to exit a position necessarily. It is just a visual that the bar has closed in the value area. Often a trending move will have many periods that the market closes back inside new Boxes that are appearing in the direction of the trend and your largest trades will require that you simply adjust your trailing stop rather than exit with gray bars.
It is prudent risk management to also use the appearance of orange closed bars as a reminder to trail your stop loss behind the new TAS Boxes levels.
Many times you may see many orange bars over a series of bars (not consecutive, however) and this means the market continues to explore both sides of TAS Boxes and is indecisive about intentions. Be cautious at these times.
The user can adjust the coloring of the TAS Vega bars in Style settings.
∟ ABOUT TAS COMPASS:
TAS Compass changes the background color of the chart to reveal the directional bias of the market. It may be applied to charts in any timeframe for stocks, ETFs, futures, Forex and digital currencies.
There are two colors generated for TAS Compass:
GREEN – Bullish directional bias
RED – Bearish directional bias
INTERPRETATION AND BASIC RULES:
The directional bias is established (or changes) when a bar closes outside of TAS Boxes levels. When a market closes above the TAS Boxes, it will establish a bullish bias (green background) and this will remain intact until there is a close below the TAS Boxes. At the time there is a bar close below the TAS Boxes, then the TAS Compass bias changes to bearish bias (red background). This sequence continues back and forth indefinitely. When using TAS Compass, one should still follow the prudent rules and best practices of TAS Boxes as there may be opportunities to exit a losing position sooner by doing so even in the instance a TAS Compass directional bias has not changed.
TAS Compass can be used as a stand-alone visual cue on a chart, but will have accentuated value when used in conjunction with TAS Boxes and TAS Vega indicators included within this bundle.
Below is an example showing TAS Compass with TAS Boxes in order to show how the closes outside of TAS Boxes is the trigger to the background color change logic.
Trade Well My Friends,
Trend FactorThis indicator is based of a series of averages using different lengths plotted at the same time on a chart.
The thin line is a no lagging average which is to be used when trading with renkos.
The none lagging average is not needed when trading with candles and can be turned off in the settings
At quick glance this will allow you to understand trend direction increasing your probability of winning trades
This indicator is to be used as part of a system
Use the link below to obtain access to this indicator.
Bollinger Bands/Stoch RSI Buy Signal V0.1 [Mr_Orange]
This my second published script, so if there are tips or questions, please let me know.
The goal of the script is to recognise a reversal pattern from bearish to bullish sentiment on a 3m and 5m timeframe. I want my trade entries to be "mechanically chosen" and not emotionally. I have not yet found a Bollinger and Stochastic RSI indicator which did what I wanted it to do, I've yet to find one of those, so I decided to study pine scripts and make one myself that works the way I want, and because I've written it myself, I understand how it works.
It is purely designed for lower timeframes and normal candles, please do not use it Heikin or Renko. Other timeframes I have not studied. At the moment I only included a Buy alert. I have not yet decided on a Sell signal/alert.
Thanks for checking it out! If you think it is worth something:
- BTC: 1NrG3Sy2VW8u4wWHucj1CQjKQ6hXYwbSyX
TASC 2025.11 The Points and Line Chart█ OVERVIEW
This script implements the Points and Line Chart described by Mohamed Ashraf Mahfouz and Mohamed Meregy in the November 2025 edition of the TASC Traders' Tips , "Efficient Display of Irregular Time Series”. This novel chart type interprets regular time series chart data to create an irregular time series chart.
█ CONCEPTS
When formatting data for display on a price chart, there are two main categorizations of chart types: regular time series (RTS) and irregular time series (ITS).
RTS charts, such as a typical candlestick chart, collect data over a specified amount of time and display it at one point. A one-minute candle, for example, represents the entirety of price movements within the minute that it represents.
ITS charts display data only after certain conditions are met. Since they do not plot at a consistent time period, they are called “irregular”.
Typically, ITS charts, such as Point and Figure (P&F) and Renko charts, focus on price change, plotting only when a certain threshold of change occurs.
The Points and Line (P&L) chart operates similarly to a P&F chart, using price change to determine when to plot points. However, instead of plotting the price in points, the P&L chart (by default) plots the closing price from RTS data. In other words, the P&L chart plots its points at the actual RTS close, as opposed to (price) intervals based on point size. This approach creates an ITS while still maintaining a reference to the RTS data, allowing us to gain a better understanding of time while consolidating the chart into an ITS format.
█ USAGE
Because the P&L chart forms bars based on price action instead of time, it displays displays significantly more history than a typical RTS chart. With this view, we are able to more easily spot support and resistance levels, which we could use when looking to place trades.
In the chart below, we can see over 13 years of data consolidated into one single view.
To view specific chart details, hover over each point of the chart to see a list of information.
In addition to providing a compact view of price movement over larger periods, this new chart type helps make classic chart patterns easier to interpret. When considering breakouts, the closing price provides a clearer representation of the actual breakout, as opposed to point size plots which are limited.
Because P&L is a new charting type, this script still requires a standard RTS chart for proper calculations. However, the main price chart is not intended for interpretation alongside the P&L chart; users can hide the main price series to keep the chart clean.
█ DISPLAYS
This indicator creates two displays: the "Price Display" and the "Data Display".
With the "Price display" setting, users can choose between showing a line or OHLC candles for the P&L drawing. The line display shows the close price of the P&L chart. In the candle display, the close price remains the same, while the open, high, and low values depend on the price action between points.
With the "Data display" setting, users can enable the display of a histogram that shows either the total volume or days/bars between the points in the P&L chart. For example, a reading of 12 days would indicate that the time since the last point was 12 days.
Note: The "Days" setting actually shows the number of chart bars elapsed between P&L points. The displayed value represents days only if the chart uses the "1D" timeframe.
The "Overlay P&L on chart" input controls whether the P&L line or candles appear on the main chart pane or in a separate pane.
Users can deactivate either display by selecting "None" from the corresponding input.
Technical Note: Due to drawing limitations, this indicator has the following display limits:
The line display can show data to 10,000 P&L points.
The candle display and tooltips show data for up to 500 points.
The histograms show data for up to 3,333 points.
█ INPUTS
Reversal Amount: The number of points/steps required to determine a reversal.
Scale size Method: The method used to filter price movements. By default, the P&L chart uses the same scaling method as the P&F chart. Optionally, this scaling method can be changed to use ATR or Percent.
P&L Method: The prices to plot and use for filtering:
“Close” plots the closing price and uses it to determine movements.
“High/Low” uses the high price on upside moves and low price on downside moves.
"Point Size" uses the closing price for filtration, but locks the price to plot at point size intervals.
