Regime Multi-Band [wac]

Regime Multi-Band indicator aims to highlight when the market transitions between bullish and bearish regimes, confirm how often price has interacted with key band levels, and factor in RSI extremes to emphasize potential stronger signals. It is designed to visualize market regimes and potential trend changes with a multi-band system around an SMA. It combines multiple layers of bands, RSI-based adjustments, and a cooldown mechanism to limit how often signals appear.

Applying this indicator across various timeframes can offer a broader understanding of how the bands and signals behave under different market conditions. A faster timeframe might show more frequent band interactions and shorter-term whipsaws, while higher timeframes can provide a smoother overall trend picture.

Experimenting with different indicator inputs can give you fresh perspectives on market behavior. By tweaking parameters to suit each timeframe’s volatility and price action characteristics, you may discover more consistent signals.

filterThres1 = input.int(7, 'Filter Threshold 1',tooltip='A larger value means checking more bars over a longer period, which can allow more signals to appear. Essentially, it extends the filter window to capture longer-term market context.')
filterThres2 = input.int(2, 'Filter Threshold 2', tooltip='A larger value reduces the number of mini-signals by emphasizing stronger momentum. It represents how many times the upper/lower bands must be touched to confirm the market’s speed or volatility.')

※ This script is designed to wait until each bar is fully closed before performing its calculations. Because it does not compute or update signals in the middle of a forming bar, you will not see any “intrabar” repainting.