This indicator uses array operations to track recent high and low values. It defines helper functions to insert values into a fixed-size array. On each bar it calculates the 10-bar highest high and lowest low, then checks for the formation of a new high or low
Indicator · Pine Script v5 · Own pane
Bias
The indicator computes bias and mbias curves from typical price relative to highest and lowest closes across periods 3, 6, 9, 12, and 20.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code64
Settings6inputs
LicenceNone stated
Last update3 years ago10 Nov 2022
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
Bias sums the positive and negative biases then negates and plots them as b (red) and s (green) lines in a separate pane to indicate buy and sell points. Inputs let users change the periods while avg remains defined but unused. No entry or exit rules appear in the script so curve crossings serve as manual signals. The plot stays confined to its own pane without overlaying price.
- bias curve
- mbias curve
- return periods
- buy sell points
- separate pane
Details
Published by
JohnsonHsiao on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Support & resistance, Mean reversion
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 |
|---|---|---|---|
| p | int | 3 | p |
| p2 | int | 6 | p2 |
| p3 | int | 9 | p3 |
| p4 | int | 12 | p4 |
| p5 | int | 20 | p5 |
| avg | int | 10 | avg |
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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