This statistical analysis tool mines historical relationships between RSI values and candle volatility. It calculates a 14-period RSI from the previous bar and normalizes absolute price change using a 14-period Average True Range (ATR). Based on the normalized
Indicator · Pine Script v6 · Own pane
Bear Market Probability Model
Bear Market Probability Model plots a bear-market probability line in a separate pane.
GitHub stars2on the repository
Pine versionv6current
Lines of code403
Settings10inputs
LicenceNone stated
Last update8 months ago25 Feb 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 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
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Its header describes a score built from four weighted groups: macroeconomic conditions, technical analysis, market sentiment, and market breadth. Users set warning and danger percentage thresholds, optionally with dynamic thresholds, and can reweight each group. A smoothing length and glow intensity control the line appearance. An optional analysis table shows the breakdown. No entry, exit, or stop rules are included because it is an indicator.
- Weighted macro, technical, sentiment and breadth scores
- Warning and danger probability thresholds
- Optional dynamic thresholds
- Smoothed probability line with glow
- Optional analysis table
Details
Published by
regalouisei on GitHub
Type
Indicator, Pine Script v6
Draws
Separate pane below the chart
Category
Screeners & dashboards, Oscillators & momentum, Volatility & bands
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Show Analysis Table | bool | true | show_table |
| Warning Threshold (%) | int | 40 | warning_threshold |
| Danger Threshold (%) | int | 70 | danger_threshold |
| Use Dynamic Thresholds | bool | true | use_dynamic_thresholds |
| Line Smoothing | int | 3 | smoothing_length |
| Glow Effect Intensity | float | 0.7 | glow_intensity |
| Macroeconomic Weight | float | 1.0 | macro_weight |
| Technical Analysis Weight | float | 1.0 | technical_weight |
| Market Sentiment Weight | float | 1.0 | sentiment_weight |
| Market Breadth Weight | float | 1.0 | breadth_weight |
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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