This indicator detects equal highs and lows by comparing prices within user-defined left and right bars using a tolerance percentage. It plots horizontal lines on the price chart for equal highs in one color and lows in another. A screener allows input of mult
Indicator · Pine Script v4 · On the chart
[e2] Setup
Calculates and plots sequential countdown setups similar to DeMark TD Setup, tracking price flips with a configurable lookback and count limit directly on the price chart.
GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code933
Settings34inputs
LicenceNone stated
Last update2 years ago2 Mar 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
[e2] Setup identifies completed counts, perfection, intersections, and multi-setup occurrences such as double or triple patterns. Additionally, it projects Fibonacci-based trend reload zones, extensions, support/resistance levels, and calculated setup risk thresholds. Settings allow adjusting lookback periods, count rules, visual arrow displays, and zone Fibonacci factors.
- Sequential setup count tracking with price flip detection
- Setup perfection, intersection, and multi-count identification
- Fibonacci trend reload zones and extension levels
- Support and resistance projections with setup risk thresholds
- Interactive tooltip statistics for completed setup counts
Details
Published by
amico1234 on GitHub
Type
Indicator, Pine Script v4
Draws
On the price chart
Category
Support & resistance, Trend
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
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| ===============⥑ Price flip ⥏================ | bool | true | i_pfSw |
| Show Price Flip Line | bool | true | i_pfLine |
| Show Price Flip Arrows | bool | false | i_pfArrows |
| ===============⥑ Setup ⥏=================== | bool | true | i_setSw |
| 》 Setup Lookback Period | int | 4 | i_setLb |
| 》 Setup Count Limit | int | 9 | i_setCl |
| 》 Count Limit reached, next? | string | Start a new Setup | i_setMode |
| 》 Setup Number Location | string | Abovebar | i_setLoc |
| Replace non exceeding setup number with '▪' sign | bool | false | i_setReplace |
| Show Setup Arrows | bool | true | i_setArrows |
| Show Only Completed Setup | bool | true | i_setOnlyCl |
| Show Setup Perfection | bool | true | i_setPerf |
Show all 34 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Show Setup Intersection | bool | true | i_setInt |
| Show Stealth Setup | bool | true | i_setStealth |
| Show Double Setup | bool | true | i_setDouble |
| Show Triple Setup | bool | true | i_setTriple |
| Show Setup Risk Level | bool | true | i_setRisk |
| 》 Setup Risk Level Multiplier | int | 1 | i_setRiskFactor |
| ===============⥑ Trend ⥏=============== | bool | true | i_trend |
| Show Trend Support and Resistance | bool | true | i_trendSRSw |
| Show Trend Reload Zone | bool | true | i_trendRlz |
| 》 Trend Reload Zone Factor 1 | input | fa | i_rlzFact1 |
| 》 Trend Reload Zone Factor 2 | input | fb | i_rlzFact2 |
| Show Trend Extension | bool | true | i_trendExt |
| 》 Trend Extension Factor 1 | input | fi | i_extFact1 |
| 》 Trend Extension Factor 2 | input | fi2 | i_extFact2 |
| Reload and Extension zone transparency | int | 90 | i_rlzExtTr |
| ===============⥑ Labels ⥏=============== | bool | true | i_labels |
| Hide Statistics in Tooltip | bool | false | i_statHide |
| Show Setup statistics | bool | true | i_statsSet |
| Show Setup rectangles | bool | true | i_statsRect |
| 》 Label Horizontal Offset | int | 3 | i_offsetLabels |
| Show Trend statistics | bool | true | i_statsTrend |
| Show Risk statistics | bool | true | i_statsRisk |
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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