Change of Context: Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

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

134 lines of Pine Script v6 from indicators/change-of-context.txt, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.

change-of-context.txt

// This Pine Script® code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © elroyvanouwerkerk

//@version=6
indicator("My script")
plot(close)
//@version=6
indicator("Change of Context", shorttitle="Change of Context", overlay=true, max_labels_count=500)

// ===== Symbols & Inputs (similar to Cherry on Top) =====
// Bearish marker settings
bearSym = input.string("▼", "Bearish Symbol", options = ["▼","▲","★","●","◆","■","✖","✚"])
bearCol = input.color(color.new(color.red, 0), "Bearish Symbol Color")
bearLoc = input.string("Above bar", "Bearish Symbol Location", options = ["Above bar", "Below bar"])

// Bullish marker settings
bullSym = input.string("▲", "Bullish Symbol", options = ["▲","▼","★","●","◆","■","✖","✚"])
bullCol = input.color(color.new(color.lime, 0), "Bullish Symbol Color")
bullLoc = input.string("Below bar", "Bullish Symbol Location", options = ["Above bar", "Below bar"])

// Marker size (use const size enums via gated calls)
sizeOpt     = input.string("Small", "Marker Size", options = ["Tiny","Small","Normal","Large","Very Large"])
isTiny      = sizeOpt == "Tiny"
isSmall     = sizeOpt == "Small"
isNormal    = sizeOpt == "Normal"
isLarge     = sizeOpt == "Large"
isVeryLarge = sizeOpt == "Very Large"

// ===== Optional Divisions Filter =====
useDivisions = input.bool(false, "Use Divisions Filter", tooltip="When enabled, Candle 2 must also close in the lower division (bearish) or upper division (bullish) of its own range.")
divOpt       = input.string("4", "Number of Divisions", options = ["2","3","4","5","6","8","10"])
divisions    = int(str.tonumber(divOpt))
divF         = float(divisions)

// Resolve locations
bearAbove = bearLoc == "Above bar"
bullAbove = bullLoc == "Above bar"

// ===== Thresholds (per current bar, for divisions filter) =====
rng      = high - low
lowerTh  = low + rng * (1.0 / divF)           // Lower division threshold (1/div)
upperTh  = low + rng * ((divF - 1.0) / divF)  // Upper division threshold ((div-1)/div)

// ===== Base Signals (Change of Context rules) =====
// Bearish: Candle 2 does NOT take Candle 1 high AND closes below Candle 1 low
baseBearish = (high <= high[1]) and (close < low[1])
// Bullish: Candle 2 does NOT take Candle 1 low AND closes above Candle 1 high
baseBullish = (low >= low[1]) and (close > high[1])

// Apply optional divisions filter
bearDivOK = (rng > 0) and (close <= lowerTh)
bullDivOK = (rng > 0) and (close >= upperTh)

bearishSignal = baseBearish and (not useDivisions or bearDivOK)
bullishSignal = baseBullish and (not useDivisions or bullDivOK)

// ===== Draw labels (no Style tab entries) =====
bgNone = color.new(color.white, 100)

// Bearish Above
if bearishSignal and bearAbove and isTiny
    label.new(bar_index, high, text=bearSym, xloc=xloc.bar_index, yloc=yloc.abovebar,
        style=label.style_none, color=bgNone, textcolor=bearCol, size=size.tiny, textalign=text.align_center)
if bearishSignal and bearAbove and isSmall
    label.new(bar_index, high, text=bearSym, xloc=xloc.bar_index, yloc=yloc.abovebar,
        style=label.style_none, color=bgNone, textcolor=bearCol, size=size.small, textalign=text.align_center)
if bearishSignal and bearAbove and isNormal
    label.new(bar_index, high, text=bearSym, xloc=xloc.bar_index, yloc=yloc.abovebar,
        style=label.style_none, color=bgNone, textcolor=bearCol, size=size.normal, textalign=text.align_center)
if bearishSignal and bearAbove and isLarge
    label.new(bar_index, high, text=bearSym, xloc=xloc.bar_index, yloc=yloc.abovebar,
        style=label.style_none, color=bgNone, textcolor=bearCol, size=size.large, textalign=text.align_center)
if bearishSignal and bearAbove and isVeryLarge
    label.new(bar_index, high, text=bearSym, xloc=xloc.bar_index, yloc=yloc.abovebar,
        style=label.style_none, color=bgNone, textcolor=bearCol, size=size.huge, textalign=text.align_center)

// Bearish Below
if bearishSignal and not bearAbove and isTiny
    label.new(bar_index, low, text=bearSym, xloc=xloc.bar_index, yloc=yloc.belowbar,
        style=label.style_none, color=bgNone, textcolor=bearCol, size=size.tiny, textalign=text.align_center)
if bearishSignal and not bearAbove and isSmall
    label.new(bar_index, low, text=bearSym, xloc=xloc.bar_index, yloc=yloc.belowbar,
        style=label.style_none, color=bgNone, textcolor=bearCol, size=size.small, textalign=text.align_center)
if bearishSignal and not bearAbove and isNormal
    label.new(bar_index, low, text=bearSym, xloc=xloc.bar_index, yloc=yloc.belowbar,
        style=label.style_none, color=bgNone, textcolor=bearCol, size=size.normal, textalign=text.align_center)
if bearishSignal and not bearAbove and isLarge
    label.new(bar_index, low, text=bearSym, xloc=xloc.bar_index, yloc=yloc.belowbar,
        style=label.style_none, color=bgNone, textcolor=bearCol, size=size.large, textalign=text.align_center)
if bearishSignal and not bearAbove and isVeryLarge
    label.new(bar_index, low, text=bearSym, xloc=xloc.bar_index, yloc=yloc.belowbar,
        style=label.style_none, color=bgNone, textcolor=bearCol, size=size.huge, textalign=text.align_center)

// Bullish Above
if bullishSignal and bullAbove and isTiny
    label.new(bar_index, high, text=bullSym, xloc=xloc.bar_index, yloc=yloc.abovebar,
        style=label.style_none, color=bgNone, textcolor=bullCol, size=size.tiny, textalign=text.align_center)
if bullishSignal and bullAbove and isSmall
    label.new(bar_index, high, text=bullSym, xloc=xloc.bar_index, yloc=yloc.abovebar,
        style=label.style_none, color=bgNone, textcolor=bullCol, size=size.small, textalign=text.align_center)
if bullishSignal and bullAbove and isNormal
    label.new(bar_index, high, text=bullSym, xloc=xloc.bar_index, yloc=yloc.abovebar,
        style=label.style_none, color=bgNone, textcolor=bullCol, size=size.normal, textalign=text.align_center)
if bullishSignal and bullAbove and isLarge
    label.new(bar_index, high, text=bullSym, xloc=xloc.bar_index, yloc=yloc.abovebar,
        style=label.style_none, color=bgNone, textcolor=bullCol, size=size.large, textalign=text.align_center)
if bullishSignal and bullAbove and isVeryLarge
    label.new(bar_index, high, text=bullSym, xloc=xloc.bar_index, yloc=yloc.abovebar,
        style=label.style_none, color=bgNone, textcolor=bullCol, size=size.huge, textalign=text.align_center)

// Bullish Below
if bullishSignal and not bullAbove and isTiny
    label.new(bar_index, low, text=bullSym, xloc=xloc.bar_index, yloc=yloc.belowbar,
        style=label.style_none, color=bgNone, textcolor=bullCol, size=size.tiny, textalign=text.align_center)
if bullishSignal and not bullAbove and isSmall
    label.new(bar_index, low, text=bullSym, xloc=xloc.bar_index, yloc=yloc.belowbar,
        style=label.style_none, color=bgNone, textcolor=bullCol, size=size.small, textalign=text.align_center)
if bullishSignal and not bullAbove and isNormal
    label.new(bar_index, low, text=bullSym, xloc=xloc.bar_index, yloc=yloc.belowbar,
        style=label.style_none, color=bgNone, textcolor=bullCol, size=size.normal, textalign=text.align_center)
if bullishSignal and not bullAbove and isLarge
    label.new(bar_index, low, text=bullSym, xloc=xloc.bar_index, yloc=yloc.belowbar,
        style=label.style_none, color=bgNone, textcolor=bullCol, size=size.large, textalign=text.align_center)
if bullishSignal and not bullAbove and isVeryLarge
    label.new(bar_index, low, text=bullSym, xloc=xloc.bar_index, yloc=yloc.belowbar,
        style=label.style_none, color=bgNone, textcolor=bullCol, size=size.huge, textalign=text.align_center)

// ===== Alerts (const strings only) =====
// Bearish alerts
alertcondition(bearishSignal and not useDivisions, title="Change of Context - Bearish", message="Bearish Change of Context: No HH and close < previous low")
alertcondition(bearishSignal and useDivisions,     title="Change of Context - Bearish (Divisions)", message="Bearish Change of Context: No HH and close < previous low + lower division filter")
// Bullish alerts
alertcondition(bullishSignal and not useDivisions, title="Change of Context - Bullish", message="Bullish Change of Context: No LL and close > previous high")
alertcondition(bullishSignal and useDivisions,     title="Change of Context - Bullish (Divisions)", message="Bullish Change of Context: No LL and close > previous high + upper division filter")

Overview

An optional divisions filter also requires the close to sit in the lower or upper fraction of the bar's range, with 2 to 10 divisions. Marker symbol, colour, position and size are adjustable. It draws labels on the price chart. It issues no stop, target or exit rules.

Two-candle change of context signals
Optional range divisions filter
Choice of marker symbols, colours and size
Labels placed above or below bars

Details

Published by

ElroyvOuwerkerk on GitHub

Code credit

elroyvanouwerkerk, as written in the script's header

Type

Indicator, Pine Script v6

Draws

Separate pane below the chart

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.

File

indicators/change-of-context.txt

Repository

github.com/ElroyvOuwerkerk/atas-on-steroids. See its other scripts in the library

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Bearish Symbol	`string`	`▼`	`bearSym`
Bearish Symbol Color	`color`	`color.new(color.red, 0)`	`bearCol`
Bearish Symbol Location	`string`	`Above bar`	`bearLoc`
Bullish Symbol	`string`	`▲`	`bullSym`
Bullish Symbol Color	`color`	`color.new(color.lime, 0)`	`bullCol`
Bullish Symbol Location	`string`	`Below bar`	`bullLoc`
Marker Size	`string`	`Small`	`sizeOpt`
Use Divisions Filter	`bool`	`false`	`useDivisions`
Number of Divisions	`string`	`4`	`divOpt`

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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