The Momentum Setup is a multi-indicator visual tool designed for trend and momentum analysis directly on the price chart. It combines Relative Strength Index (RSI), Money Flow Index (MFI), Commodity Channel Index (CCI), Supertrend, and a 250-bar percentage cha
Indicator · Pine Script v6 · On the chart
Hedge Short Setup Finder
Hedge Short Setup Finder identifies potential short entry opportunities by combining multiple technical confluence conditions.
GitHub stars3on the repository
Pine versionv6current
Lines of code163
Settings26inputs
LicenceNone stated
Last update1 year ago15 Oct 2025
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
Hedge Short Setup Finder scans for momentum exhaustion using price surge percentage over a lookback period, overbought RSI with rollover confirmation, Bollinger Bands exhaustion, volume spikes, and long-term EMA trend alignment. Based on customizable confluence thresholds, the indicator plots base or strong short setup signals on the price chart alongside visual labels displaying ATR-based suggested stop loss and take profit levels.
- Multi-factor short setup confluence signals
- ATR-based stop loss and take profit visual hints
- Momentum surge and RSI rollover detection
- Bollinger Bands exhaustion and volume filters
Details
Published by
shitcoding on GitHub
Type
Draws
On the price chart
Category
Markets
Timeframes
M15-H1, H4 and above
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.
Topics
pinescripttradingview
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Use % Surge condition | bool | true | useSurge |
| Lookback bars (e.g., 72 bars ≈ 3d on 1h) | int | 72 | surgeLb |
| Price ↑ over lookback ≥ (%) | float | 10.0 | surgePct |
| Use RSI overbought & roll-over | bool | true | useRSI |
| RSI Length | int | 14 | rsiLen |
| RSI Overbought Level | int | 70 | rsiOb |
| Require RSI rolling over (RSI < RSI[1]) | bool | true | needRoll |
| Use Bollinger exhaustion filter | bool | true | useBB |
| BB Length | int | 20 | bbLen |
| BB StdDev Mult | float | 2.0 | bbMult |
| Exhaustion Logic | string | Touch+Re-entry | bbMode |
| Require volume spike | bool | false | useVol |
Show all 26 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Volume SMA Length | int | 20 | volLen |
| Volume ≥ SMA × | float | 1.5 | volMult |
| Trend Filter | string | Off | trendMode |
| EMA length for trend | int | 200 | emaLen |
| Min confluence for BASE signal (1..4) | int | 2 | minConf |
| Min confluence for STRONG signal (2..4) | int | 3 | strongConf |
| Fire signals on bar close only | bool | true | fireOnClose |
| Only first bar of a cluster (avoid repeated alerts) | bool | true | oneShot |
| Also trigger alert() (use 'Any alert() function call') | bool | true | useAnyAlert |
| Show labels with suggested SL/TP | bool | true | showHints |
| ATR Length | int | 14 | atrLen |
| Suggested SL = ATR × | float | 1.5 | atrSLx |
| Suggested TP = ATR × | float | 1.0 | atrTPx |
| Datetime offset from UTC (hours) | int | 3 | tzOffsetH |
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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