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avgPrice v2 - VF20Here I create my own indicator on Tradingview to detect whale movements in stocks, crypto, & forex, which is suitable for all trading instruments. By using the whale approach and technical analysis, it is useful for detecting increases based on whale/market maker buying actions and detecting decreases based on whale/market maker selling actions. There is also an automatic analysis of "Long" and "Short" so it is easy to use, with 3 line features with different colors and different functions as explained below: If the gray line is below the yellow line, then there is accumulation by whales, conversely if the gray line is above the yellow line, then there is distribution by whales. I created this indicator, dedicated specifically to friends who have difficulty trading and want to keep it simple, "Buy" is enough "Buy" and "Sell" is enough "Sell". I have summarized all whale detection analysis in one simple indicator. I like to share and I love the world of trading, for me this is like a second life. Hopefully this description is useful and motivates friends to get consistent profits from trading. Greetings,
Pine Script® indicator
oleh Saupi
TREND FINDER BY MRS (SSL Hybrid + Delta Candles)Perfect for identifying trend direction, continuation signals, and exit points while visualizing real-time buying/selling pressure. A sophisticated multi-timeframe trading system combining: SSL Hybrid Trend Analysis (HMA/JMA/EMA baseline) Volume Delta Visualization (colored candles) ATR Volatility Bands (optional) Key Features: 1. Smart Trend Detection Custom Baseline MA: Choose between HMA, JMA (Jurik), or EMA with adjustable length Trend-Colored Baseline: 🟢 Green = Uptrend (price above & baseline rising) 🔴 Red = Downtrend (price below & baseline falling) 🟠 Orange = Neutral/Transition phase 2. Volume Delta Candles Colors candles based on lower timeframe volume imbalance: 🟢 Dark Green: Strong buying pressure (delta > 20%) 🌱 Light Green: Moderate buying (delta 5-20%) 🔴 Dark Red: Strong selling pressure (delta < -20%) 🌸 Light Red: Moderate selling (delta -5% to -20%) ⚪ Gray: Balanced volume 3. Professional Tools ATR Bands: Visualize volatility with adjustable multiplier Multi-Timeframe Analysis: Delta calculated from lower timeframe (default: 1min) Alerts: Baseline crosses and extreme delta conditions Recommended Settings: Chart Type: Daily (for NNFX method) Baseline: HMA/JMA (60 periods) Delta TF: 1-5min for intraday volume accuracy How Traders Use It: Trend Traders: Follow colored baseline for direction Swing Traders: Use delta extremes for reversals Breakout Traders: Watch ATR band expansions Published Notes: TREND FINDER BY MRS (SSL Hybrid with Delta Candles) By: Rajasekhar Muvvala *"See the trend, read the volume, trade with confidence"* Installation: 1. Add to TradingView via Pine Editor 2. Customize colors/thresholds in settings 3. Apply to daily charts for best results Pro Tip: Combine with: - 200EMA for long-term bias - Horizontal S/R levels - Price action confirmation This description highlights the indicator's unique value while making it accessible for both beginners and advanced traders. The markdown formatting ensures clean presentation when published on trading forums or journals. Would you like me to adjust any technical aspects or emphasize different features?
Pine Script® indicator
oleh mrsekhar
4
RSI + MFI Momentum Mapper - CoffeeKillerRSI + MFI Momentum Mapper - CoffeeKiller Indicator Guide Welcome traders! This guide will walk you through the RSI + MFI Momentum Mapper indicator, an innovative market analysis tool developed by CoffeeKiller that combines two powerful oscillators to create a comprehensive momentum visualization system. 🔔 **Warning: This Is Not a Standard RSI or MFI Indicator** 🔔 This indicator combines and normalizes RSI and MFI data to create a unified momentum representation with boundary detection and peak signaling features. Core Concept: Combined Momentum Analysis The foundation of this indicator lies in merging the strengths of two complementary oscillators - Relative Strength Index (RSI) and Money Flow Index (MFI) - to provide a more robust momentum signal that accounts for both price action and volume. Directional Columns: Momentum Strength - Positive Green Columns: Bullish momentum - Negative Red Columns: Bearish momentum - Color intensity varies based on momentum strength - Special coloring for new high/low boundaries Marker Lines: Dynamic Support/Resistance - High Marker Line (Magenta): Tracks the highest point reached during a bullish phase - Low Marker Line (Cyan): Tracks the lowest point reached during a bearish phase - Creates visual boundaries showing momentum extremes Peak Detection System: - Triangular markers identify significant local maxima and minima - Background highlighting shows important momentum peaks - Helps identify potential reversal points and momentum exhaustion Reference Lines: - Zero Line (Gray): Divides bullish from bearish momentum - High Line (+1): Upper threshold for extremely bullish conditions - Low Line (-1): Lower threshold for extremely bearish conditions Core Components 1. Oscillator Normalization - RSI and MFI values centered around zero - Values scaled to create consistent visualization - Normalized range typically between -1 and +1 - Combination of indicators for signal reliability 2. Boundary Tracking System - Automatic detection of highest values in bullish phases - Automatic detection of lowest values in bearish phases - Step-line visualization of boundaries - Color-coded for easy identification 3. Peak Detection System - Identification of local maxima and minima - Background highlighting of significant peaks - Triangle markers for peak visualization - Zero-line cross detection for trend changes 4. Signal Smoothing - Signal line calculation via SMA - Helps filter noise and identify trends - Provides confirmation of momentum direction Main Features Oscillator Settings - Customizable RSI length for sensitivity control - Customizable MFI length for sensitivity control - Normalized display for consistent visualization - Signal smoothing for clearer readings Visual Elements - Color-coded columns showing momentum direction and strength - Dynamic marker lines for momentum boundaries - Peak triangles for significant turning points - Background highlighting for peak identification - Reference lines for momentum threshold levels Signal Generation - Zero-line crosses for trend change signals - Boundary breaks for momentum strength - Peak formation for potential reversals - Color changes for momentum direction and acceleration Customization Options - RSI and MFI length parameters - Marker line visibility and colors - Peak marker color selection - Peak background display options Trading Applications 1. Trend Identification - Directional line crossing above zero: bullish trend beginning - Directional line crossing below zero: bearish trend beginning - Column color: indicates momentum direction - Column height: indicates momentum strength 2. Reversal Detection - Peak triangles after extended trend: potential exhaustion - Background highlighting: significant reversal points - Directional line approaching marker lines: potential trend change - Color shifts from bright to muted: decreasing momentum 3. Momentum Analysis - Breaking above previous high boundary: accelerating bullish momentum - Breaking below previous low boundary: accelerating bearish momentum - Special coloring (magenta/cyan): boundary breaks indicating strength - Approaching +1/-1 lines: extreme momentum conditions 4. Market Structure Assessment - Consecutive higher peaks: strengthening bullish structure - Consecutive lower troughs: strengthening bearish structure - Peak comparisons: relative strength of momentum phases - Boundary line steps: market structure levels Optimization Guide 1. Oscillator Settings - RSI Length: Default 14 provides balanced signals - Lower values (7-10): More responsive, potentially noisier - Higher values (20-30): Smoother, fewer false signals - MFI Length: Default 14 provides balanced signals - Lower values: More responsive to volume changes - Higher values: Less sensitive to short-term volume spikes 2. Visual Customization - Marker Line Colors: Adjust for visibility on your chart - Peak Marker Color: Default yellow provides good contrast - Enable/disable background highlights based on preference - Consider chart background when selecting colors 3. Signal Interpretation - Stronger signals: When directional line approaches +1/-1 - Confirmation: When peaks form after extended momentum - Early warnings: When color intensity changes before direction - Trend strength: Distance between zero line and current reading 4. Reference Line Usage - Zero line: Primary trend divider - +1/-1 lines: Extreme momentum thresholds - Marker lines: Dynamic support/resistance levels - Distance from reference: Momentum strength measure Best Practices 1. Signal Confirmation - Wait for zero-line crosses to confirm trend changes - Look for peak formations to identify potential reversals - Check for boundary breaks to confirm strong momentum - Use with price action for entry/exit precision 2. Timeframe Selection - Lower timeframes: more signals, potential noise - Higher timeframes: cleaner signals, less frequent - Multiple timeframes: confirm signals across time horizons - Match to your trading style and holding period 3. Market Context - Strong bullish phase: positive columns breaking above marker line - Strong bearish phase: negative columns breaking below marker line - Columns approaching zero: potential trend change - Columns approaching +1/-1: extreme conditions, potential reversal 4. Combining with Other Indicators - Use with trend indicators for confirmation - Pair with other oscillators for divergence detection - Combine with volume analysis for validation - Consider support/resistance levels with boundary lines Advanced Trading Strategies 1. Boundary Break Strategy - Enter long when directional line breaks above previous high marker line - Enter short when directional line breaks below previous low marker line - Use zero-line as initial stop-loss reference - Take profits at formation of opposing peaks 2. Peak Trading Strategy - Identify significant peaks with triangular markers - Look for consecutive lower peaks in bullish phases for shorting opportunities - Look for consecutive higher troughs in bearish phases for buying opportunities - Use zero-line crosses as confirmation 3. Extreme Reading Strategy - Look for directional line approaching +1/-1 lines - Watch for color changes and peak formations - Enter counter-trend positions after confirmed peaks - Use tight stops due to extreme momentum conditions 4. Column Color Strategy - Enter long when columns turn bright green (increasing momentum) - Enter short when columns turn bright red (increasing momentum) - Exit when color intensity fades (decreasing momentum) - Use marker lines as dynamic support/resistance Practical Analysis Examples Bullish Market Scenario - Directional line crosses above zero line - Green columns grow in height and intensity - High marker line forms steps upward - Peak triangles appear at local maxima - Background highlights appear at significant momentum peaks Bearish Market Scenario - Directional line crosses below zero line - Red columns grow in depth and intensity - Low marker line forms steps downward - Peak triangles appear at local minima - Background highlights appear at significant momentum troughs Consolidation Scenario - Directional line oscillates around zero line - Column colors alternate frequently - Marker lines remain relatively flat - Few or no new peak highlights appear - Directional values remain small Understanding Market Dynamics Through RSI + MFI Momentum Mapper At its core, this indicator provides a unique lens to visualize market momentum by combining two complementary oscillators: 1. Combined Strength: By averaging RSI (price-based) and MFI (volume-based), the indicator provides a more comprehensive view of market momentum that considers both price action and buying/selling pressure. 2. Normalized Scale: The indicator normalizes values around zero, making it easier to identify bullish vs bearish conditions and the relative strength of momentum in either direction. 3. Dynamic Boundaries: The marker lines create a visual representation of the "high water marks" of momentum in both directions, helping to identify when markets are making new momentum extremes. 4. Exhaustion Signals: The peak detection system highlights moments where momentum has reached a local maximum or minimum, often precursors to reversals or consolidations. Remember: - Combine signals from directional line, marker lines, and peak formations - Use appropriate timeframe settings for your trading style - Customize the indicator to match your visual preferences - Consider market conditions and correlate with price action This indicator works best when: - Used as part of a comprehensive trading system - Combined with proper risk management - Applied with an understanding of current market conditions - Signals are confirmed by price action and other indicators DISCLAIMER: This indicator and its signals are intended solely for educational and informational purposes. They do not constitute financial advice. Trading involves significant risk of loss. Always conduct your own analysis and consult with financial professionals before making trading decisions.
Pine Script® indicator
oleh CoffeeKiller
Fibonacci BB Strategy with RSI + 2% Exit📈 Fibonacci BB Strategy with RSI + 2% Profit Exit This strategy combines a VWMA-based Bollinger Band system with RSI confirmation and a 2% profit-taking mechanism, offering a balanced blend of trend and momentum trading. 🔍 Key Features: ✅ VWMA-Based Bands: Uses a 200-period Volume Weighted Moving Average (VWMA) to create dynamic support and resistance bands with standard deviation. Helps capture trend direction with volume-weighted precision. ✅ Entry Signals: Long Entry: When price crosses above the upper VWMA band. Short Entry: When price crosses below the lower VWMA band. ✅ Exit Conditions: Profit Target: Positions close automatically at a 2% profit (customizable). RSI-Based Exit: Longs close when RSI < 30 (oversold). Shorts close when RSI > 70 (overbought). ✅ Built-in Risk Management: Avoids greed-based exits by locking in profits early or exiting on reversal signals. ⚙️ User Inputs: VWMA length (default: 200) Deviation multiplier for bands (default: 3.0) RSI length (default: 14) Profit target in % (default: 2%) 🧠 How to Use: Works best in strong trending markets. Can be combined with higher-timeframe trend filters or volume analysis. Suitable for both swing trading and intraday strategies.
Pine Script® strategy
oleh electricalPers55976
Volume Delta Divergence + Bollinger Bands (Filtered)📌 Volume Delta Divergence with Bollinger Bands (Filtered) This script combines Volume Delta Divergence detection with Bollinger Bands to help identify high-probability buy and sell signals based on volume behavior and price action. 🔍 Key Features: ✅ Divergence Detection: Identifies when price moves in one direction (green/red candle), but the delta volume (buy vs sell volume) moves in the opposite direction — a common sign of hidden weakness or strength. ✅ Volume Strength Filter: Filters out weak divergence signals by checking if the delta volume is significantly larger than its historical average (user-defined lookback). ✅ Breakout Confirmation: A signal is only triggered when the next candle breaks the high or low of the divergence candle. ✅ Bollinger Bands Overlay: Adds standard Bollinger Bands (20-period SMA ± 2 standard deviations by default) for trend and volatility analysis. ✅ Clean Signal Display: Plots "BUY" and "SELL" labels only when strong divergences occur, reducing noise and false signals. ⚙️ User Inputs: Custom timeframe for volume delta analysis Delta volume average lookback period Bollinger Band settings (length & deviation) 🧠 How to Use: Use the divergence signals in conjunction with Bollinger Band positioning. Consider SELL signals stronger when they occur near the upper Bollinger Band, and BUY signals near the lower band. Combine with price action or RSI for added confluence.
Pine Script® indicator
oleh electricalPers55976
Initiative Analysis CoreInitiative Analysis (IA) Indicator Initiative Analysis (IA) is an innovative technical analysis tool based on a unique concept of visualizing and analyzing the real battle between buyers and sellers. 🔍 What is IA and how does it work? IA identifies initiatives on the chart — directional price moves caused by the actions of buyers or sellers. These initiatives form the three key phases of the market: • Sideways range (consolidation) • Trend • Transitional period Each initiative has a time limit and a price range. This helps traders clearly see: • Who currently controls the market; • What key levels and activity zones are forming; • Where the price is likely to meet support or resistance. ________________________________________ Main Features and How to Read the Chart: ✅ Identifying Buyer and Seller Initiatives (Dominant Zones) • A blue background shows a buyer’s initiative — buyers control the market and price is expected to rise (colors can be customized). • A red background shows a seller’s initiative — sellers control the market and price is expected to fall. ✅ Key Price Levels • The bottom edge of the blue zone = potential demand/support level. • The top edge of the red zone = potential supply/resistance level. • The blue line = potential target level during bullish phases. • The red line = potential target level during bearish phases. ✅ Levels Inside Initiatives • The indicator can show up to 5 levels inside each initiative (like Fibonacci levels), which you can set manually in the settings. ✅ Multi-Timeframe Analysis • Visual elements (initiatives, levels, targets) are shown for two timeframes at once: the current chart timeframe and a higher timeframe of your choice. • This helps to do full analysis without switching charts. ✅ Key Candles in Initiative Analysis • KC (Key Candle): the candle with the highest volume within an Initiative. • tKC (Temporary Key Candle): a temporary high-volume candle that forms after the KC. It may become the new KC if the Initiative extends beyond the previous range. • IKC (Internal Key Candle): the candle with the highest volume among Initiatives that form inside a sideways range. If KC/tKC and IKC appear in opposite directions within the same Initiative, IKC takes priority. • One possible approach for finding long setups: look for a buyer-side KC, tKC, or IKC within the lower 50% of the Initiative, or a seller-side KC/tKC/IKC on the lower boundary that has been absorbed by buyers. The reverse applies when looking for short setups. ✅ Customization • All colors and elements can be easily adjusted to fit your trading style. ________________________________________ 💡 Why is IA useful for traders and investors? • Color-coded zones make market context easy to understand: who’s in control, key levels, possible initiative change; • Saves a lot of time on market analysis; • Helps find return zones and high-potential entry points; • Helps forecast potential price targets; • Makes reading market structure simple and clear. ________________________________________ The public version of the IA Indicator (IA Core) provides the following features: • Full real-time functionality for BTC/USDT (Spot). Access to other instruments or contract types requires the IA Advanced version. • Real-time visualization of initiatives and target levels, as well as simultaneous display of key elements (initiatives, levels, and targets) on the 15-minute and weekly timeframes for all other assets. • Historical data analysis across all timeframes for all assets. Explore past price movements and evaluate the effectiveness of the IA concept. (Note: the most recent historical segments may be unavailable depending on the selected timeframe.) ________________________________________ 📖 Soon-to-be Published Articles We will soon publish articles explaining: • What Initiative Analysis is, • How it helps traders and investors, • How it saves time, • How it helps identify return zones and entry points, • How it differs from other methods. Below is a short excerpt from the first article to help you understand the basics of chart reading: ________________________________________ 🖼️ Look at this chart: When one side controls the market strongly, we see a single background color in price ranges. In this case, it makes sense to look for trades in the direction of the move. But it’s important to check the higher timeframe for confirmation (!). In the chart: • A blue target line means a bullish target (thin line = 1H, thick = 1D). • A black target line means a bearish target (same logic for thickness). • Targets are calculated using a custom method that includes the initiative range, candle structure inside the initiative, and traded volumes. • Once a candle crosses the target line, the target is considered reached. • If a new target appears, it will be shown. • If the price leaves the buyer zone, the blue target disappears until the price returns. Same rule for seller zones. ________________________________________ 📉 Sideways Market (Range) If the chart background changes between red and blue in one price range, it means the market is in consolidation (sideways) — temporary balance between buyers and sellers. In this case, targets also switch: blue = buy target, red = sell target. ________________________________________ 🔀 Transitional Phase Sometimes, two price zones may appear at the same time — one above (buyers), one below (sellers). This is a transition period. It may turn into a sideways range or develop into a trend. During transitions: • It’s better to avoid trading. • Check who controlled the price before, and who is in control on the higher timeframe (this is always important). • For example, if sellers were in control before, and the higher timeframe confirms it, sellers are likely to stay dominant. However, a short-term bounce or trend reversal is possible. ________________________________________ 💰 Wishing you profitable trades!
Pine Script® indicator
oleh AlexeyWolf
02 SMC + BB Breakout (Improved)This strategy combines Smart Money Concepts (SMC) with Bollinger Band breakouts to identify potential trading opportunities. SMC focuses on identifying key price levels and market structure shifts, while Bollinger Bands help pinpoint overbought/oversold conditions and potential breakout points. The strategy also incorporates higher timeframe trend confirmation to filter out trades that go against the prevailing trend. Key Components: Bollinger Bands: Calculated using a Simple Moving Average (SMA) of the closing price and a standard deviation multiplier. The strategy uses the upper and lower bands to identify potential breakout points. The SMA (basis) acts as a centerline and potential support/resistance level. The fill between the upper and lower bands can be toggled by the user. Higher Timeframe Trend Confirmation: The strategy allows for optional confirmation of the current trend using a higher timeframe (e.g., daily). It calculates the SMA of the higher timeframe's closing prices. A bullish trend is confirmed if the higher timeframe's closing price is above its SMA. This helps filter out trades that go against the prevailing long-term trend. Smart Money Concepts (SMC): Order Blocks: Simplified as recent price clusters, identified by the highest high and lowest low over a specified lookback period. These levels are considered potential areas of support or resistance. Liquidity Zones (Swing Highs/Lows): Identified by recent swing highs and lows, indicating areas where liquidity may be present. The Swing highs and lows are calculated based on user defined lookback periods. Market Structure Shift (MSS): Identifies potential changes in market structure. A bullish MSS occurs when the closing price breaks above a previous swing high. A bearish MSS occurs when the closing price breaks below a previous swing low. The swing high and low values used for the MSS are calculated based on the user defined swing length. Entry Conditions: Long Entry: The closing price crosses above the upper Bollinger Band. If higher timeframe confirmation is enabled, the higher timeframe trend must be bullish. A bullish MSS must have occurred. Short Entry: The closing price crosses below the lower Bollinger Band. If higher timeframe confirmation is enabled, the higher timeframe trend must be bearish. A bearish MSS must have occurred. Exit Conditions: Long Exit: The closing price crosses below the Bollinger Band basis. Or the Closing price falls below 99% of the order block low. Short Exit: The closing price crosses above the Bollinger Band basis. Or the closing price rises above 101% of the order block high. Position Sizing: The strategy calculates the position size based on a fixed percentage (5%) of the strategy's equity. This helps manage risk by limiting the potential loss per trade. Visualizations: Bollinger Bands (upper, lower, and basis) are plotted on the chart. SMC elements (order blocks, swing highs/lows) are plotted as lines, with user-adjustable visibility. Entry and exit signals are plotted as shapes on the chart. The Bollinger band fill opacity is adjustable by the user. Trading Logic: The strategy aims to capitalize on Bollinger Band breakouts that are confirmed by SMC signals and higher timeframe trend. It looks for breakouts that align with potential market structure shifts and key price levels (order blocks, swing highs/lows). The higher timeframe filter helps avoid trades that go against the overall trend. In essence, the strategy attempts to identify high-probability breakout trades by combining momentum (Bollinger Bands) with structural analysis (SMC) and trend confirmation. Key User-Adjustable Parameters: Bollinger Bands Length Standard Deviation Multiplier Higher Timeframe Higher Timeframe Confirmation (on/off) SMC Elements Visibility (on/off) Order block lookback length. Swing lookback length. Bollinger band fill opacity. This detailed description should provide a comprehensive understanding of the strategy's logic and components. ***DISCLAIMER: This strategy is for educational purposes only. It is not financial advice. Past performance is not indicative of future results. Use at your own risk. Always perform thorough backtesting and forward testing before using any strategy in live trading.***
Pine Script® strategy
oleh giorendel
Price action plus//The system combines the divergence of A/D and OBV with identifying reversal points using Japanese candlestick patterns, creating an enhanced version of price action. This helps investors more easily and accurately recognize reversal patterns in technical analysis. Divergence of A/D vs. OBV includes: Positive divergence: Identifies smart money leaving the market. Negative divergence: Identifies smart money entering the market. Reversal candlestick patterns include: Buy signals: Morning Star, Bullish Engulfing, Hammer. Strong Buy signals: Buy signals + Negative divergence Sell signals: Evening Star, Bearish Engulfing, Shooting Star. Strong Sell signals : Sell signals + Positive divergence //Hope this system will be helpful for you!
Pine Script® indicator
oleh HuynhDucTai
1
Exhaustion and Gap Cluster Indicator V2Below is a complete Pine Script v5 indicator that attempts to meet all your requirements. It does the following: 1. Exhaustion Lines: • When an “Uptrend Exhaustion?” condition is met, it draws a green horizontal line at that bar’s close that extends 500 bars to the right. • When a “Downtrend Exhaustion?” condition is met, it draws a red horizontal line at that bar’s close that extends 500 bars to the right. 2. Gap Cluster Labels: • It counts consecutive bars (a “cluster”) where the close is a certain percentage above or below the 200 SMA. • If 10 or more consecutive bars close 2.5% above the 200 SMA, it plots a yellow label (above the bar) reading “Caution Gap.” • If 10 or more consecutive bars close 3.0% above the 200 SMA, it plots an orange label (above the bar) reading “Danger Gap.” • If 10 or more consecutive bars close 2.5% below the 200 SMA, it plots a yellow label (below the bar) reading “Caution Gap.” • If 10 or more consecutive bars close 3.0% below the 200 SMA, it plots an orange label (above the bar) reading “Danger Gap.” (Note: The instructions for the down gap labels are a bit asymmetrical, so I’ve followed them as stated.) YEAH BOIIIIIIII
Pine Script® indicator
oleh mustardcrow
Exhaustion and Gap Cluster IndicatorBelow is a complete Pine Script v5 indicator that attempts to meet all your requirements. It does the following: 1. Exhaustion Lines: • When an “Uptrend Exhaustion?” condition is met, it draws a green horizontal line at that bar’s close that extends 500 bars to the right. • When a “Downtrend Exhaustion?” condition is met, it draws a red horizontal line at that bar’s close that extends 500 bars to the right. 2. Gap Cluster Labels: • It counts consecutive bars (a “cluster”) where the close is a certain percentage above or below the 200 SMA. • If 10 or more consecutive bars close 2.5% above the 200 SMA, it plots a yellow label (above the bar) reading “Caution Gap.” • If 10 or more consecutive bars close 3.0% above the 200 SMA, it plots an orange label (above the bar) reading “Danger Gap.” • If 10 or more consecutive bars close 2.5% below the 200 SMA, it plots a yellow label (below the bar) reading “Caution Gap.” • If 10 or more consecutive bars close 3.0% below the 200 SMA, it plots an orange label (above the bar) reading “Danger Gap.” (Note: The instructions for the down gap labels are a bit asymmetrical, so I’ve followed them as stated.)
Pine Script® indicator
oleh mustardcrow
Exhaustion and Gap Cluster IndicatorBelow is a complete Pine Script v5 indicator that attempts to meet all your requirements. It does the following: 1. Exhaustion Lines: • When an “Uptrend Exhaustion?” condition is met, it draws a red horizontal line at that bar’s close that extends 500 bars to the right. • When a “Downtrend Exhaustion?” condition is met, it draws a green horizontal line at that bar’s close that extends 500 bars to the right. 2. Gap Cluster Labels: • It counts consecutive bars (a “cluster”) where the close is a certain percentage above or below the 200 SMA. • If 10 or more consecutive bars close 2.5% above the 200 SMA, it plots a yellow label (above the bar) reading “Caution Gap.” • If 10 or more consecutive bars close 3.0% above the 200 SMA, it plots an orange label (above the bar) reading “Danger Gap.” • If 10 or more consecutive bars close 2.5% below the 200 SMA, it plots a yellow label (below the bar) reading “Caution Gap.” • If 10 or more consecutive bars close 3.0% below the 200 SMA, it plots an orange label (above the bar) reading “Danger Gap.” (Note: The instructions for the down gap labels are a bit asymmetrical, so I’ve followed them as stated.)
Pine Script® indicator
oleh mustardcrow