The Market Tradability Engine calculates multi-factor tradability, balance, compression, and direction scores to evaluate market regime quality. It classifies market conditions into eight distinct states, including Balance, Compression, Ready, Breakout, Trend,
Indicator · Pine Script v4 · On the chart
Dual Thrust Trading Algorithm
This indicator adapts Michael Chalek's Dual Thrust trading concept to plot breakout levels and overlay bands directly on the price chart.
Repaints
GitHub stars114on the repository
Pine versionv4older, still runs
Lines of code170
Settings13inputs
LicenceNone stated
Last update1 year ago7 Nov 2024
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
Dual Thrust Trading Algorithm calculates lookback ranges based on historical price action and provides two algorithmic variations along with multiple trend identification rules such as SMA and EMA filters. Additionally, it offers optional Standard Error of Estimate (SEE) or Bollinger Bands to measure market noise and dispersion. By default, the indicator uses security calls with lookahead enabled, which causes repainting on historical bars.
- Dual Thrust breakout range calculation
- Standard Error of the Estimate (SEE) bands
- Bollinger Bands overlay option
- Multiple trend identification rules
- Configurable lookback and discount settings
Details
Published by
capissimo on GitHub
Type
Indicator, Pine Script v4
Draws
On the price chart
Category
Trend, Breakout, Volatility & bands
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- Signals can change on the live bar or after it closes (repainting)
- Reads higher-timeframe data with lookahead on, so the history can show signals that were not there in real time
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Lookback Window | int | 20 | p |
| Multiplier | float | 2.0 | mult |
| Trend Identification Rule | string | Original | rule |
| Algorithm used: | string | Algo #1 | algo |
| Lookback Window M | int | 5 | mlen |
| Lookback Window N | int | 14 | nlen |
| Coeff | float | 0.9 | k |
| Trending discount | float | 0.55 | disc |
| Bollinger? (alt. Standard Error) Bands | bool | false | use_bb |
| Lookback Window | int | 20 | pbb |
| Smoothing Factor | int | 3 | sdeg |
| Bands Multiplier | float | 2.0 | multbb |
Show all 13 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Repaint? | bool | true | repnt |
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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