Multi-Indicator Trend-Following Strategy v6Multi-Indicator Trend-Following Strategy v6
This strategy uses a combination of technical indicators to identify potential trend-following trade entries and exits. It is intended for educational and research purposes.
How it works:
Moving Averages (EMA): Entry signals are generated on crossovers between a fast and slow exponential moving average.
RSI Filter: Confirms momentum with a threshold above/below 50 for long/short entries.
Volume Confirmation: Requires volume to exceed a moving average multiplied by a user-defined factor.
ATR-Based Risk Management: Stop loss and take profit levels are calculated using the Average True Range (ATR), allowing for dynamic risk control based on market volatility.
Customizable Inputs:
Fast/Slow MA lengths
RSI length and levels
MACD settings (used in calculation, not directly in signal)
Volume MA and multiplier
ATR period and multipliers for stop loss and take profit
Notes:
This strategy does not guarantee future results.
It is provided for analysis and backtesting only.
Alerts are available for buy/sell conditions.
Feel free to adjust parameters to explore different market conditions and asset classes.
Pesquisar nos scripts por "take profit"
Reversal Trap Sniper – Verified VersionReversal Trap Sniper
Overview
Reversal Trap Sniper is a counterintuitive momentum-following strategy that identifies "reversal traps"—situations where traders expect a market reversal based on RSI, but the price continues trending. By detecting these failed reversal signals, the strategy enters trades in the trend direction, often catching strong follow-through moves.
How It Works
The system monitors the Relative Strength Index (RSI). When RSI moves above the overbought level (e.g., 70) and then drops back below it, many traders interpret this as a sell signal.
However, this strategy treats such moves with caution. If the RSI pulls back below the overbought threshold but the price continues to rise, the system considers it a "reversal trap"—a fakeout.
In such cases, instead of going short, the strategy enters a long position, assuming that the trend is still valid and those betting on a reversal may fuel a breakout.
Similarly, if RSI rises above the oversold level from below, but price continues falling, a short trade is triggered.
Entries are followed by ATR-based stop-loss and dynamic take-profit (2× risk), with a fallback time-based exit after 30 bars.
Key Features
- Detects failed RSI-based reversals ("traps")
- Follows momentum after the trap is triggered
- Uses ATR for dynamic stop-loss and take-profit
- Auto-exit after a fixed bar count (30 bars)
- Visual markers on chart for transparency
- Realistic trading assumptions: 0.05% commission, slippage, and capped pyramiding
Parameter Explanation
RSI Length (14): Standard RSI calculation period
Overbought/Oversold Levels (70/30): Common thresholds used by many traders
ATR Length (14): Used to define stop-loss and target dynamically
Risk-Reward Ratio (2.0): Take-profit is set at 2× the stop-loss distance
Max Holding Bars (30): Ensures trades don’t remain open indefinitely
Pyramiding (10): Allows scaling into trades, simulating real-world strategy stacking
Originality Note
This strategy inverts traditional RSI logic. Instead of treating overbought/oversold conditions as signals for reversal, it waits for those signals to fail. Only after such failures, confirmed by continued price action in the same direction, does the system enter trades. This logic is based on the behavioral observation that failed reversal signals often trigger stronger trend continuation—making this strategy uniquely positioned to exploit trap scenarios.
Disclaimer
This script is for educational and research purposes only. Trading involves risk, and past performance does not guarantee future results. Always test thoroughly before applying with live capital.
Ensemble Consensus System
The Ensemble Consensus System (ECS) brings a **Random Forest-style ensemble vote** to Pine Script: five orthogonal "expert" strategies each cast a bull/bear vote (+1/-1/0), and only high-confidence consensus moves become signals—dramatically reducing noise while capturing strong directional moves.
## What Makes This Original
ECS is the first Pine Script indicator to implement true machine learning-style ensemble voting. Rather than relying on a single methodology, five independent experts analyze different market dimensions:
• **Trend Expert**: Multi-timeframe EMA alignment analysis
• **Momentum Expert**: RSI/MACD/Stochastic confluence with consistency filters
• **Volume Expert**: Proprietary volume pressure + OBV confirmation
• **Volatility Expert**: Bollinger Band mean reversion opportunities
• **Structure Expert**: Adaptive pivot-based support/resistance detection
## How It Works
The system requires consensus among experts, with an **adaptive threshold** based on market volatility:
| Volatility Regime | ATR/Close | Votes Required |
|-------------------|-----------|----------------|
| Low Volatility | <1% | 2+ |
| Normal Markets | 1-2% | 3+ |
| High Volatility | >2% | 4+ |
This dynamic adjustment prevents overtrading in choppy conditions while maintaining responsiveness during strong trends.
## Key Features
### Signals
• **Visual entry points** with strength percentage (60% = 3/5 experts agree)
• **Adaptive thresholds** that adjust to market conditions
• **Multi-expert consensus** reduces false signals
### Risk Control
• **Dynamic stop-loss/take-profit** based on ATR
• **Regime-adjusted targets** (±50% in volatile markets)
• **Visual SL/TP lines** with exact price labels
### Analytics
• **Real-time vote panel** showing each expert's stance
• **Performance tracking** with win rate and P/L
• **Market regime indicator** (Trending/Ranging/Volatile)
• **Light Mode** for better performance on slower systems
## How to Use
1. **Apply ECS** to a liquid instrument on 15m-4H timeframe (best: 1H)
2. **Wait for signal** - green ▲ for long, red ▼ for short with strength %
3. **Verify votes** - check panel to see which experts agree
4. **Execute trade** using the displayed SL/TP levels
5. **Monitor regime** - be cautious if market regime changes
### Quick Start Settings
• **Standard Trading**: Use defaults (3 votes, adaptive mode ON)
• **Conservative**: Increase to 4 votes minimum
• **Aggressive**: Reduce to 2 votes, tighten stops
## Important Limitations
• **Chart Types**: Not compatible with Renko/Heikin-Ashi
• **Volume Data**: Requires reliable volume (forex pairs may underperform)
• **News Events**: Signals may lag during gaps/major announcements
• **Processing**: Heavy calculations - use Light Mode if needed
## Settings Guide
**Ensemble Controls**
• `Minimum Votes` (default: 3): Base threshold before volatility adjustment
• `Adaptive Mode` (default: ON): Auto-adjusts threshold by market volatility
**Visual Options**
• `Vote Panel`: Live expert voting display
• `Performance Stats`: Win rate and trade tracking
• `Light Mode`: Disables heavy visuals for speed
**Risk Parameters**
• `Stop Multiplier` (default: 2.0): ATR multiple for stop-loss
• `TP Multiplier` (default: 3.0): ATR multiple for take-profit
• `Dynamic TP` (default: ON): Adjusts targets by market regime
## Troubleshooting
**Too few signals?**
→ Lower minimum votes or check if market is ranging
**Indicator running slow?**
→ Enable Light Mode, disable performance tracking
**Weird volume votes?**
→ Verify your symbol has accurate volume data
## Technical Concepts
The ensemble approach mimics **Random Forest algorithms** where multiple decision trees vote on outcomes. By requiring agreement among experts using orthogonal methodologies, ECS filters out signals that would fail under different market lenses. The adaptive threshold addresses fixed-parameter weakness by dynamically adjusting selectivity based on volatility.
• Adaptive pivot lookback for dynamic structure detection
• Safe volume pressure calculation preventing division errors
• Momentum consistency filter reducing choppy false signals
• Unified dashboard merging vote panel + performance stats
• Regime-based dynamic take-profit adjustment
*Educational indicator demonstrating ensemble methods in Pine Script. No guarantee of future performance. Always use proper risk management and position sizing.*
AltcoinEvreni Entry/TP RR ToolMulti-Entry / Take-Profit Risk-Reward Tool
This indicator is designed to help traders visually plan and manage their trade entries, take-profit targets, stop-loss levels, and risk/reward calculations directly on the chart.
Key Features:
--- Up to 3 customizable entry levels with separate position sizing for each.
--- Up to 5 take-profit (TP) levels, each with individual allocation percentages.
--- Automatic calculation of weighted average entry price.
--- Dynamic risk and potential profit calculation based on your inputs.
--- Visual colored zones for entry, stop-loss, and take-profit areas on the chart.
--- Adjustable leverage and margin for position sizing.
--- Informative floating table displaying position type, entries, stop-loss, risk in $, potential
--- profit in $, and overall RR ratio.
--- Fully customizable appearance (colors, box width, table font size, etc.).
How to Use:
1- Set your trade direction (Long or Short).
2- Enter your planned entry prices, allocation percentages, and stop-loss.
3- Configure your take-profit levels and their respective allocation percentages.
4- Adjust margin, leverage, and visual preferences as desired.
5- The tool will display all relevant zones and statistics, helping you make better risk-managed trading decisions.
Notes:
--- All calculations and drawings update dynamically as you change your parameters.
--- Works on any symbol and timeframe.
--- For educational and planning purposes – always use your own judgment and risk management.
NY Opening Range Breakout - MA StopCore Concept
This strategy trades breakouts from the New York opening range (9:30-9:45 AM NY time) on intraday timeframes, designed for scalping and day trading.
Setup Requirements
Timeframe: Works on any timeframe under 15 minutes (1m, 2m, 3m, 5m, 10m)
Session: New York market hours
Range Period: 9:30-9:45 AM NY time (15-minute opening range)
Entry Rules
Long Entries:
Wait for a candle to close above the opening range high
Enter long on the next candle (before 12:00 PM NY time)
Must be above moving average if using MA-based take profit
Short Entries:
Wait for a candle to close below the opening range low
Enter short on the next candle (before 12:00 PM NY time)
Must be below moving average if using MA-based take profit
Risk Management
Stop Loss:
Long trades: Opening range low
Short trades: Opening range high
Take Profit Options:
Fixed Risk Reward: 1.5x the range size (customizable ratio)
Moving Average: Exit when price crosses back through MA
Both: Whichever comes first
Key Features
Trade Direction Options:
Long Only
Short Only
Both directions
Moving Average Filter:
Prevents entries that would immediately hit stop loss
Uses EMA/SMA/WMA/VWMA with customizable length
Acts as dynamic support/resistance
Time Restrictions:
No entries after 12:00 PM NY time (customizable cutoff)
One trade per direction per day
Daily reset of all variables
Visual Elements
Red/green lines showing opening range
Purple line for moving average
Entry and breakout signals with shapes
Take profit and stop loss levels plotted
Information table with current status
Strategy Logic Flow
Morning: Capture 9:30-9:45 range high/low
Wait: Monitor for breakout (previous candle close outside range)
Filter: Check MA condition if using MA-based exits
Enter: Trade on next candle after breakout
Manage: Exit at fixed TP, MA cross, or stop loss
Reset: Start fresh next trading day
This is a momentum-based breakout strategy that capitalizes on early market volatility while using the opening range as natural support/resistance levels.
Elliott Wave + Fib Levels w/Alerts [Enhanced]Elliott Wave + Fibonacci Levels with Alerts
This powerful TradingView indicator combines Elliott Wave detection with customizable Fibonacci retracement levels to help identify key price zones and potential trade opportunities. It automatically detects bullish and bearish waves based on recent highs and lows, with an optional EMA filter to improve trend accuracy.
Key features include:
Dynamic detection of Elliott Waves based on configurable wave length.
Visualization of Fibonacci retracement levels on detected waves, with customizable percentage levels and optional labels for clarity.
ATR-based automatic calculation of stop loss and take profit levels with adjustable multipliers.
Real-time alerts triggered on new wave formations, indicating bullish or bearish setups with precise entry price details.
Clean plotting of entry signals, stop loss, and take profit zones directly on the chart.
User-friendly input controls to tailor the indicator to your trading style, including options to toggle EMA filtering, Fibonacci level display, and alert activation.
Ideal for traders looking to combine classic wave analysis with Fibonacci support/resistance levels and actionable trade alerts, this indicator streamlines technical analysis and trade management in one easy-to-use tool.
Precision Entry Signals (RSI + MA12 Logic)Description:
This script provides precise entry signals based on a clean confluence of MA12 breakouts and RSI momentum, filtered by a VWMA (Volume-Weighted Moving Average) of the RSI.
-----------------------------------------------------------------------------------------------------------------
🔹 Long entry conditions:
- Candle opens below the 12-period MA and closes above it
- RSI crosses above its VWMA
- Previous candle is bearish (additional confirmation)
🔹 Short entry conditions:
- Candle opens above the 12-period MA and closes below it
- RSI crosses below its VWMA
- Previous candle is bullish
----------------------------------------------------------------------------------------------------------------
Once a signal is confirmed, the script automatically draws:
Entry line (at close price)
Stop Loss line (just below recent lows for long, or above highs for short)
Take Profit 1 (1R)
Take Profit 2 (2R)
Labels are attached to the lines for clarity: ENTRY, SL, TP1, and TP2.
⚠️ Note: This tool only provides entry signals and visual risk/reward guidance. It does not manage exits dynamically. Manual trade management is recommended.
This script is intended for active intraday traders, especially on lower timeframes like 3-minute, 5-minute or 15-minute charts.
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🔧 Recommended companion indicator:
For better confirmation and visual tracking of the RSI/VWMA cross logic, it is strongly recommended to also use the companion script:
🔹 Relative Strength Index (with MA based cross signals)
→ Shows RSI and its moving average visually, with triangle plots on every valid cross.
→ Matches exactly the RSI/VWMA behavior used in this entry signal script.
📌 Important:
After adding the RSI script to your chart, make sure to set:
RSI Length = 14
MA Type = VWMA
MA Length = 20
This ensures it visually matches the logic used by the entry signal script.
Both indicators are fully open source and meant to be used together — especially when trading manually.
Moving Average Deviation Rate with MA TypeJapanese below / 日本語説明は下記
This indicator displays moving average deviation rate with the ability to select moving average type with signals and alerts.
Price and moving average have the characteristics that when the price moves away from the moving average, it moves back to the moving average.
Example:
In the chart below, when the deviation rate increases to 2%(green circle), price momentum gradually decreases and it moves back to the moving average.
Taking advantage of this characteristic, traders can make decisions to take profit and/or take contrarian trades.
Signals can be displayed either on main chart or sub chart when the deviation rate crosses over/under upper/lower band.
Alert can be set with the same condition as the signals.
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移動平均線乖離率を表示することのできるインジケーターです。
移動平均線タイプを選択できる他、乖離率とアッパーバンド/ロワーバンドとのクロスでシグナルを表示することができます。
価格と移動平均線には、価格が移動平均線から乖離すると、再び移動平均線まで戻ってくるという特徴があります。
この特徴を利用することで、トレーダーは利益確定のタイミングや逆張りでポジションを取るタイミングを図ることができます。
例
以下のチャートでは乖離率が2%付近(黄緑の丸)まで上昇すると、価格の上昇の勢いが衰えて再び移動平均線まで戻っていることが確認できます。
乖離率とアッパーバンド/ロワーバンドがクロスした時に、メインチャートまたはサブチャートのいずれかにシグナルを表示することが可能です。
また、同じ条件でアラートを設定することもできます。
Volatility Pulse with Dynamic ExitVolatility Pulse with Dynamic Exit
Overview
This strategy, Volatility Pulse with Dynamic Exit, is designed to capture impulsive price moves following volatility expansions, while ensuring risk is managed dynamically. It avoids trades during low-volatility periods and uses momentum confirmation to enter positions. Additionally, it features a time-based forced exit system to limit overexposure.
How It Works
A position is opened when the current ATR (Average True Range) significantly exceeds its 20-period average, signaling a volatility expansion.
To confirm the move is directional and not random noise, the strategy checks for momentum: the close must be above/below the close of 20 bars ago.
Low volatility zones are filtered out to avoid chop and poor trade entries.
Upon entry, a dynamic stop-loss is set at 1x ATR, while take-profit is set at 2x ATR, offering a 2:1 reward-to-risk ratio.
If the position remains open for more than 42 bars, it is forcefully closed, even if targets are not hit. This prevents long-lasting, stagnant trades.
Key Features
✅ Volatility-based breakout detection
✅ Momentum confirmation filter
✅ Dynamic stop-loss and take-profit based on real-time ATR
✅ Time-based forced exit (42 bars max holding)
✅ Low-volatility environment filter
✅ Realistic settings with 0.05% commission and slippage included
Parameters Explanation
ATR Length (14): Captures recent volatility over ~2 weeks (14 candles).
Momentum Lookback (20): Ensures meaningful price move confirmation.
Volatility Expansion Threshold (0.5x): Strategy activates only when ATR is at least 50% above its average.
Minimum ATR Filter (1.0x): Avoids entries in tight, compressed market ranges.
Max Holding (42 bars): Trades are closed after 42 bars if no exit signal is triggered.
Risk-Reward (2.0x): Aiming for 2x ATR as profit for every 1x ATR risk.
Originality Note
While volatility and momentum have been used separately in many strategies, this script combines both with a time-based dynamic exit system. This exit rule, combined with an ATR-based filter to exclude low-activity periods, gives the system a practical edge in real-world use. It avoids classic rehashes and integrates real trading constraints for better applicability.
Disclaimer
This is a research-focused trading strategy meant for backtesting and educational purposes. Always use proper risk management and perform due diligence before applying to real funds.
Range Filter Strategy with ATR TP/SLHow This Strategy Works:
Range Filter:
Calculates a smoothed average (SMA) of price
Creates upper and lower bands based on standard deviation
When price crosses above upper band, it signals a potential uptrend
When price crosses below lower band, it signals a potential downtrend
ATR-Based Risk Management:
Uses Average True Range (ATR) to set dynamic take profit and stop loss levels
Take profit is set at entry price + (ATR × multiplier) for long positions
Stop loss is set at entry price - (ATR × multiplier) for long positions
The opposite applies for short positions
Input Parameters:
Adjustable range filter length and multiplier
Customizable ATR length and TP/SL multipliers
All parameters can be optimized in TradingView's strategy tester
You can adjust the input parameters to fit your trading style and the specific market you're trading. The ATR-based exits help adapt to current market volatility.
15-Min ORB Strategy with TP/SL
🔧 How It Works
Opening Range Defined
At market open, it tracks the first 15-minute candle.
The high and low of that candle form the Opening Range.
Breakout Detection
A Buy Signal is triggered when price closes above the ORB high (with confirmation).
A Sell Signal is triggered when price closes below the ORB low.
Trade Management
On a confirmed breakout, the script:
Records the entry price.
Calculates Take Profit (TP) and Stop Loss (SL) using user-defined multipliers of the ORB range.
Positions are exited when either TP or SL is hit.
State Tracking
It tracks whether you're in a trade and whether it’s a long or short.
Once exited, the trade resets and waits for a new signal the next session.
📌 Visual Elements
Green line: ORB High
Red line: ORB Low
Blue line: Active Take Profit (if in trade)
Orange line: Active Stop Loss (if in trade)
Buy/Sell Labels: Signal markers below/above candles for clear entry visibility
⚙️ Customizable Inputs
Take Profit Multiplier (default 1.5× ORB range)
Stop Loss Multiplier (default 1.0× ORB range)
Session Start/End time for ORB definition
✅ Ideal For:
Traders who want clean, rule-based signals with no indicators
Quick intraday setups using price action only
Adaptation to almost any liquid market (just adjust session times)
Volume and Volatility Ratio Indicator-WODI策略名称
交易量与波动率比例策略-WODI
一、用户自定义参数
vol_length：交易量均线长度，计算基础交易量活跃度。
index_short_length / index_long_length：指数短期与长期均线长度，用于捕捉中短期与中长期趋势。
index_magnification：敏感度放大倍数，调整指数均线的灵敏度。
index_threshold_magnification：阈值放大因子，用于动态过滤噪音。
lookback_bars：形态检测回溯K线根数，用于捕捉反转模式。
fib_tp_ratio / fib_sl_ratio：斐波那契止盈与止损比率，分别对应黄金分割（0.618/0.382 等）级别。
enable_reversal：反转信号开关，开启后将原有做空信号反向为做多信号，用于单边趋势加仓。
二、核心计算逻辑
交易量百分比
使用 ta.sma 计算 vol_ma，并得到 vol_percent = volume / vol_ma * 100。
价格波动率
volatility = (high – low) / close * 100。
构建复合指数
volatility_index = vol_percent * volatility，并分别计算其短期与长期均线（乘以 index_magnification）。
动态阈值
index_threshold = index_long_ma * index_threshold_magnification，过滤常规波动。
三、信号生成与策略执行
做多/做空信号
当短期指数均线自下而上突破长期均线，且 volatility_index 突破 index_threshold 时，发出做多信号。
当短期指数均线自上而下跌破长期均线，且 volatility_index 跌破 index_threshold 时，发出做空信号。
反转信号模式（可选）
若 enable_reversal = true，则所有做空信号反向为做多，用于在强趋势行情中加仓。
止盈止损管理
进场后自动设置斐波那契止盈位（基于入场价 × fib_tp_ratio）和止损位（入场价 × fib_sl_ratio）。
支持多级止盈：可依次以 0.382、0.618 等黄金分割比率分批平仓。
四、图表展示
策略信号标记：图上用箭头标明每次做多/做空（或反转加仓）信号。
斐波那契区间：在K线图中显示止盈/止损水平线。
复合指数与阈值线：与原版相同，在独立窗口绘制短、长期指数均线、指数曲线及阈值。
量能柱状：高于均线时染色，反转模式时额外高亮。
Strategy Name
Volume and Volatility Ratio Strategy – WODI
1. User-Defined Parameters
vol_length: Length for volume SMA.
index_short_length / index_long_length: Short and long MA lengths for the composite index.
index_magnification: Sensitivity multiplier for index MAs.
index_threshold_magnification: Threshold multiplier to filter noise.
lookback_bars: Number of bars to look back for pattern detection.
fib_tp_ratio / fib_sl_ratio: Fibonacci take-profit and stop-loss ratios (e.g. 0.618, 0.382).
enable_reversal: Toggle for reversal mode; flips short signals to long for trend-following add-on entries.
2. Core Calculation
Volume Percentage:
vol_ma = ta.sma(volume, vol_length)
vol_percent = volume / vol_ma * 100
Volatility:
volatility = (high – low) / close * 100
Composite Index:
volatility_index = vol_percent * volatility
Short/long MAs applied and scaled by index_magnification.
Dynamic Threshold:
index_threshold = index_long_ma * index_threshold_magnification.
3. Signal Generation & Execution
Long/Short Entries:
Long when short MA crosses above long MA and volatility_index > index_threshold.
Short when short MA crosses below long MA and volatility_index < index_threshold.
Reversal Mode (optional):
If enable_reversal is on, invert all short entries to long to scale into trending moves.
Fibonacci Take-Profit & Stop-Loss:
Automatically set TP/SL levels at entry price × respective Fibonacci ratios.
Supports multi-stage exits at 0.382, 0.618, etc.
4. Visualization
Signal Arrows: Marks every long/short or reversal-add signal on the chart.
Fibonacci Zones: Plots TP/SL lines on the price panel.
Index & Threshold: Same as v1.0, with MAs, index curve, and threshold in a separate sub-window.
Volume Bars: Colored when above vol_ma; extra highlight if a reversal-add signal triggers
Mimas buy and sellBollinger Bands: Calculated using a simple moving average (basis) and standard deviation (dev).
EMAs: Two exponential moving averages (EMA 5 and EMA 20) are plotted to identify short-term and long-term trends.
Price Action Patterns: The script detects higher highs and higher lows for bullish conditions, and lower highs and lower lows for bearish conditions.
Trend Strength: An exponential moving average of the price change is used to gauge the strength of the trend.
Trade Signals: Buy and sell signals are plotted on the chart when specific conditions are met, combining price action patterns, trend strength, Bollinger Bands, and EMA crossovers.
Take-Profit Levels: Dynamic take-profit levels are calculated based on recent swing highs and lows, adjusted by a user-defined multiplier. These levels are displayed on the chart using plot to draw horizontal lines.
Liquidity Grab Strategy (Volume Trap)🧠 Strategy Logic:
Liquidity Grab Detection:
The script looks for a sharp drop in price (bearish engulfing or breakdown candle).
However, volume remains flat (within 5% of the 20-period moving average), suggesting the move is manipulated, not genuine.
Fair Value Gap Confirmation (FVG):
It confirms that a Fair Value Gap exists — a gap between recent candle bodies that price is likely to retrace into.
This gap represents a high-probability entry zone.
Trade Setup:
A limit BUY order is placed at the base of the FVG.
Stop Loss (SL) is placed below the gap.
Take Profit (TP) is placed at the most recent swing high.
📈 How to Use It:
Add the strategy to your TradingView chart (1–5 min or 15 min works well for intraday setups).
Look for green BUY labels and plotted lines:
💚 Green = Entry price
🔴 Red = Stop loss
🔵 Blue = Take profit
The script will automatically simulate entries when conditions are met and exit either at TP or SL.
Use TradingView’s Strategy Tester to review:
Win rate
Net profit
Risk-adjusted performance
Horizontal ATR LinesDisclaimer:
This script was generated using OpenAI’s ChatGPT. I take no responsibility for the correctness, performance, or financial impact of this indicator. Use it at your own risk and discretion.
This indicator draws horizontal ATR-based levels from the last closed candle on a user-selected timeframe. It is designed for traders who want to visualize realistic volatility zones for setting dynamic support/resistance, take-profit, or stop-loss levels.
What it does:
Calculates the Average True Range (ATR) using a customizable period and timeframe.
Plots four horizontal lines:
+1 ATR and –1 ATR from the last closed candle’s close
+X ATR and –X ATR, where X is a second custom multiplier
Each level includes a compact label showing:
The price of the level
The percentage distance from the close price
Use cases:
Identify realistic intraday or swing price movement boundaries
Build volatility-aware take-profit and stop-loss zones
Visually track market compression or expansion in context
Customization:
ATR period and timeframe
Two independent ATR multipliers
Custom color settings for each group of levels
VIX Z-Score (Inverted)📘 Indicator: VIX Z-Score (Inverted) + Table
🔍 Overview
This indicator calculates the Z-Score of the VIX (Volatility Index) and inverts it to identify potential buying opportunities during periods of fear and caution during periods of extreme optimism. The Z-Score is smoothed and visually displayed alongside a dynamic info table.
⚙️ How It Works
VIX Data: The VIX (ticker: CBOE:VIX) is pulled in real time.
Z-Score Calculation:
𝑍
=
(
𝑉
𝐼
𝑋
−
mean
)
standard deviation
Z=
standard deviation
(VIX−mean)
Over a customizable lookback period (default: 50).
Inversion:
Since high VIX usually means fear (often a contrarian buying signal), we invert the Z-Score:
𝑍
inv
=
−
𝑍
Z
inv
=−Z
Smoothing:
An EMA is applied to reduce noise and false signals.
Clamping:
The Z-Score is linearly scaled and capped between +2 and -2 for easy visualization in the info table.
📊 Z-Score Table (Top-Right)
Range Interpretation Table Color
+1.5 to +2 Extreme fear → Buy zone 🟩 Green
+0.5 to +1.5 Moderate fear 🟨 Lime
–0.5 to +0.5 Neutral ⬜ Gray
–0.5 to –1.5 Growing complacency 🟧 Orange
–1.5 to –2 Extreme optimism → Caution 🟥 Red
The current Z-Score (clamped version) is shown in real time on the right-hand info panel.
🧠 How to Use It
+2 Zone (Table: Green):
Market fear is at an extreme. Historically, such conditions are contrarian bullish—possible entry zones.
–2 Zone (Table: Red):
Indicates extreme optimism and low fear. Often a signal to be cautious or take profits.
Middle range (±0.5):
Market is neutral. Avoid major decisions based solely on sentiment here.
🧪 Best Practices
Combine with price action, volume, or trend filters.
Works well on daily or 4H timeframes.
Not a standalone signal—best used to confirm or fade sentiment extremes.
