Golden Canyon Pace

📈 Indicator Name: Golden Canyon pace
Platform: Trading View'
Version: 1.0'



🔍 Overview:

This indicator is designed for traders who want to capture small but strategic Renko-based price movements. It focuses on short-term reversals or momentum shifts by analyzing recent Renko bar behavior, plotting 'Buy' and 'Sell' labels directly on the chart when specific conditions are met.

Unlike long-term trend indicators, this tool provides 'quick-entry insights' , ideal for scalpers, intraday traders, or those who want to catch micro-trends.


🧠 How It Works:

* The script checks for 'short-term reversal conditions' in the Renko structure:
* A 'Buy signal' is triggered when recent bars suggest a bullish reversal.
* A 'Sell' signal is triggered when recent bars indicate a bearish reversal.
* Signals are labeled directly on the chart with color-coded markers:

* 🟢 Buy = Green label with black text
* 🔴 Sell = Red label with black text
* The labels appear only when valid setups occur, helping you avoid unnecessary noise.



⚙️ Key Features:

* 'Renko-Based Signal Logic:' Designed to work best on charts using Renko or synthetic candle structures.
* 'Minimalistic Labels:' Only essential signals appear—no clutter.
* 'Unified Alert Condition:' You only need to set up 'one alert' on TradingView for both Buy and Sell signals. The alert will automatically notify you of either event.
* 'Customizable Colors:' Easily change background or label colors to match your chart setup.
* 'Works on All Timeframes:' But is most effective on time-compressed views or custom Renko timeframes.



📋 Instructions for Use:

1. 'Add the indicator' to your chart.
2. Adjust Renko settings (if applicable) to match your strategy.
3. Customize colors under the “Style” tab (default label text is black).
4. Set your alert:

* Right-click the chart → “Add Alert”
* Choose the alert condition: “functional calls”
* Select your preferred notification method (popup, email, webhook, etc.)
* Done! You’ll be alerted for either a Buy or Sell opportunity.



🚨 Alerts Setup (One Alert for Both Directions):

To streamline your workflow, this script includes 'one combined alert condition' that fires on either a Buy or Sell signal. This simplifies alert management and ensures you never miss a setup.



📌 Important Notes:

* This indicator is intended as a 'signal assistant', not a full trading strategy. Use it in combination with your own risk management and market context.
* Works best when used with 'non-time-based Renko charts' or synthetic candle setups that mimic clean price movement.
* You can further refine signals by combining this tool with trend filters or volume indicators.



💬 Support:

If you need help customizing the tool, understanding the signals, or integrating it into your strategy, feel free to reach out for assistance.