Overlay indicator that classifies candles into seven families: momentum blast, range expansion, gap and go, trend accelerant, trapdoor reversal, exhaustion spike and gap and recover.
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
Each family uses ATR multiples, body-to-range ratios and volume against its average, with its own lookbacks. Master switches enable or disable families, and bullish or bearish output can be hidden globally. Labels and bar colouring appear on the price chart, with colours set in inputs. Thresholds are adjustable but the combination rules are complex.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Show ALL Bullish Signals
bool
true
showBullish
Show ALL Bearish Signals
bool
true
showBearish
▲ Bull Color (labels + bar)
color
color.new(#00C800, 0)
bullLabelColor
▼ Bear Color (labels + bar)
color
color.new(#FF2020, 0)
bearLabelColor
MB — Momentum Blast
bool
true
family_MB
RE — Range Expansion
bool
true
family_RE
GG — Gap & Go
bool
true
family_GG
TA — Trend Accelerant
bool
true
family_TA
TR — Trapdoor Reversal
bool
true
family_TR
ES — Exhaustion Spike
bool
true
family_ES
GDR — Gap & Recover
bool
true
family_GDR
Body Size × ATR
float
1.6
alpha_MB
Show all 40 settings
Setting
Type
Default
Variable
Body / Range ≥
float
0.70
beta_MB
Volume × Avg
float
1.8
delta_MB
ATR Lookback
int
14
atr_len_MB
Volume Lookback
int
20
vol_len_MB
Range × ATR
float
2.2
gamma_RE
Close-to-Edge ≤
float
0.15
epsilon_RE
Volume × Avg
float
1.8
delta_RE
ATR Lookback
int
14
atr_len_RE
Volume Lookback
int
20
vol_len_RE
Gap × ATR
float
0.9
zeta_GG
Volume × Avg
float
1.8
delta_GG
ATR Lookback
int
14
atr_len_GG
Volume Lookback
int
20
vol_len_GG
ΔPrice × AvgΔ
float
1.6
theta_TA
Volume × Avg
float
1.8
delta_TA
Trend MA Len
int
50
trend_ma_len_TA
Avg Δ Len
int
10
avg_delta_len
ATR Lookback
int
14
atr_len_TA
Volume Lookback
int
20
vol_len_TA
Strong Candle Body × Avg
float
1.5
alpha_SB
Strong Candle Vol × Avg
float
1.5
delta_SB
Weak Candle Max Body/Range
float
0.2
weak_ratio
Avg Body Len
int
20
body_avg_len
Avg Range Len
int
20
range_avg_len
BULL GG+MB+RE+TA
bool
true
bull_GG_MB_RE_TA
BULL MB+TA+RE
bool
true
bull_MB_TA_RE
BULL GG+TA+MB
bool
false
bull_GG_TA_MB
BULL GG+TA+RE
bool
false
bull_GG_TA_RE
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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