Dip2Green PRO: Free TradingView Indicator (Pine Script)

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

A long setup is an oversold red flush followed by green candles, and a short setup is an overbought green move followed by red candles. A composite score from RSI depth, range against ATR, volume, pivot location and candle body must pass a minimum. Asset presets set thresholds, and filters include a higher timeframe EMA, a 200 EMA, ADX, higher timeframe RSI and an optional session. It marks signals on the price chart.

Dip then confirmation candle pattern
Composite score with adjustable weights
Asset-specific presets
Higher timeframe, EMA 200, ADX and session filters

Details

Published by

mcgary6567-lab on GitHub

Type

Indicator, Pine Script v6

Draws

On the price 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

Dip2Green_PRO.pine

Repository

github.com/mcgary6567-lab/Codeea

Settings

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

Setting	Type	Default	Variable
Asset Preset	`string`	`Auto`	`preset`
RSI Oversold	`int`	`30`	`custOS`
Range x ATR	`float`	`0.8`	`custATR`
Volume x avg	`float`	`1.0`	`custVol`
Low Lookback	`int`	`10`	`custLook`
RSI Length	`int`	`14`	`rsiLen`
ATR Length	`int`	`14`	`atrLen`
Volume MA	`int`	`20`	`volLen`
ADX Length	`int`	`14`	`adxLen`
Require HTF trend agreement	`bool`	`true`	`useHTFTrend`
Higher Timeframe	`timeframe`	`240`	`htfTF`
HTF EMA length	`int`	`50`	`htfEmaLen`

Show all 40 settings

Setting	Type	Default	Variable
Require local EMA200 agreement	`bool`	`true`	`useLocalEma`
Local EMA length	`int`	`200`	`localEmaLen`
Skip when ADX too low (chop)	`bool`	`true`	`useADX`
Min ADX	`float`	`15.0`	`adxMin`
Restrict to a session	`bool`	`false`	`useSession`
Session (exchange tz)	`session`	`0700-2100`	`sessSpec`
Require HTF RSI < 50 for longs (>50 for shorts)	`bool`	`true`	`useMtfRsi`
Use composite score (recommended)	`bool`	`true`	`useScore`
Minimum score to fire (0-100)	`float`	`55.0`	`scoreMin`
Weight: RSI depth	`float`	`25`	`wRSI`
Weight: Range / ATR	`float`	`20`	`wATR`
Weight: Volume vs avg	`float`	`20`	`wVol`
Weight: At pivot	`float`	`20`	`wPivot`
Weight: Body / Range	`float`	`15`	`wBody`
Min body/range for confirmation candles	`float`	`0.45`	`minBodyPct`
Confirmation must close above dip 50%	`bool`	`true`	`reqHalfDip`
Confirmation needs volume >= avg	`bool`	`false`	`reqVolConf`
Allow ONE small inside bar without reset	`bool`	`true`	`allowOneInside`
Abort on strong opposite bar (>2 ATR)	`bool`	`true`	`oppositeAbort`
Required confirmation bars	`int`	`2`	`greenN`
Max wait bars	`int`	`10`	`maxWait`
SL: ATR buffer x ATR	`float`	`0.30`	`slBuffer`
Dynamic RR by ATR percentile	`bool`	`true`	`useDynRR`
Base R:R	`float`	`2.0`	`baseRR`
TP1 fraction (close at 1R)	`float`	`0.5`	`tp1Frac`
TP2 multiple of R	`float`	`2.0`	`tp2Mult`
Trail remainder (chandelier)	`bool`	`true`	`useTrail`
Trail = N x ATR	`float`	`2.5`	`trailATR`

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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