1Copy the scriptPress Copy script above, or the copy button on the code below.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
16 lines of Pine Script v4 from studies/thomas/accumulationSignal.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
accumulationSignal.pine
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
//@version=4
study("Accumulation Zones", "AZ", overlay=true)
o = input(1231502400, 'Genesis block timestamp in seconds', minval=8)
// The signal has to be valid for 3 days before showing on the chart
c = input(3, 'Confirmations', minval=0)
td = time - time[1]
t = round((time - o * 1000) / td) // Current time duration since genesis
//Feigenbaum constant
lm = round(t/4.669201609102990671853203820466)
clm = close[lm]
plotshape(crossover(clm[c], close[c]) and clm > close, text='Buy', location=location.belowbar, style=shape.triangleup, color=#00ff88, size=size.tiny)
bgcolor(clm > close ? color.new(#00ff88, 95) : color.new(#ff0088, 100))
Overview
Accumulation Zones calculates a historical bar offset based on the Feigenbaum constant, comparing current closing prices against historical prices at that interval. When the shifted historical price crosses above the price confirmed over multiple bars, the indicator plots a Buy triangle below the bar and highlights the background. User settings allow configuring the genesis block timestamp and confirmation count.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Genesis block timestamp in seconds
int
1231502400
o
Confirmations
int
3
c
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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