OPEN-SOURCE SCRIPT
SuperTrend Zone Rejection [STRZ]
CONCEPT -
This indicator identifies trend-continuation setups by combining the Super Trend with dynamic Average True Range (ATR) value zones. It highlights specific price action behaviour's—specifically wick rejections and momentum closes—that occur during pullbacks into the trend baseline.
HOW IT WORKS -
The script operates on three logic gates:
>> Trend Filter: Uses a standard Super Trend (Factor 3, Period 10 default) to define market direction.
>> Dynamic Zones: Projects a volatility-based zone (default 2.0x ATR) above or below the Super Trend line to define a valid pullback area.
>> Signal Detection: Identifies specific candle geometries occurring within these zones.
>> Rejection: Candles with significant wicks testing the zone support/resistance.
>> Momentum: Candles that open within the zone and close in the upper/lower quartile of their range.
FEATURES -
>> Dynamic Channel: Visualizes the active buy/sell zone using a continuous, non-repainting box.
>> Volatile Filtering: Filters out low-volatility candles (doji's/noise) based on minimum ATR size.
>> Visuals: Color-coded trend visualization with distinct signal markers for qualified entries.
SETTINGS -
>> Super Trend: Adjustable Factor and ATR Period.
>> Zone Multiplier: Controls the width of the pullback zone relative to ATR.
>> Visuals: Customizable colours for zones and signals to fit light/dark themes.
This indicator identifies trend-continuation setups by combining the Super Trend with dynamic Average True Range (ATR) value zones. It highlights specific price action behaviour's—specifically wick rejections and momentum closes—that occur during pullbacks into the trend baseline.
HOW IT WORKS -
The script operates on three logic gates:
>> Trend Filter: Uses a standard Super Trend (Factor 3, Period 10 default) to define market direction.
>> Dynamic Zones: Projects a volatility-based zone (default 2.0x ATR) above or below the Super Trend line to define a valid pullback area.
>> Signal Detection: Identifies specific candle geometries occurring within these zones.
>> Rejection: Candles with significant wicks testing the zone support/resistance.
>> Momentum: Candles that open within the zone and close in the upper/lower quartile of their range.
FEATURES -
>> Dynamic Channel: Visualizes the active buy/sell zone using a continuous, non-repainting box.
>> Volatile Filtering: Filters out low-volatility candles (doji's/noise) based on minimum ATR size.
>> Visuals: Color-coded trend visualization with distinct signal markers for qualified entries.
SETTINGS -
>> Super Trend: Adjustable Factor and ATR Period.
>> Zone Multiplier: Controls the width of the pullback zone relative to ATR.
>> Visuals: Customizable colours for zones and signals to fit light/dark themes.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.