Sideway Zones Live is an overlay indicator that estimates inner and outer sideways bands from recent highs and lows with a rational quadratic kernel. It tracks swing pivots over a loopback period and counts bars that remain between the outer high and low. Afte
Indicator · Pine Script v5 · On the chart
Hello World
This educational script calculates and plots 50-bar highest high and lowest low levels directly on the price chart.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code25
Settings0inputs
LicenceNone statedfile: MPL-2.0
Last update2 years ago3 Oct 2024
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 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
25 lines of Pine Script v5 from 06. Functions & Variables/05. Highest, Lowest & Barsince.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © cmoutafidis
//@version=5
indicator(title="Hello world", overlay = true)
highestHigh = ta.highest(high, 50)
breakout = close > highestHigh[1]
plot(highestHigh)
bgcolor(breakout ? color.green : na)
lowest = ta.lowest(low, 50)
lowestBreakout = low == lowest
plot(lowest, color = color.red)
bgcolor(lowestBreakout ? color.red : na)
// lowestLowBarCount = ta.lowestbars(50)
lowestLowBarCount = ta.barssince(low == ta.lowest(50))
lowestLowVolume = volume[math.abs(lowestLowBarCount)]
plot(lowestLowVolume)
Overview
Hello World highlights breakout conditions by coloring the chart background green when the closing price exceeds the previous 50-bar high, and red when the low matches the 50-bar lowest low. Additionally, it tracks the elapsed bars since the lowest low occurred to retrieve and plot the volume level recorded at that bar.
- 50-bar highest high and lowest low tracking
- High and low breakout background highlights
- Volume retrieval at the lowest low bar
Details
Published by
fiji-solutions on GitHub
Code credit
cmoutafidis, as written in the script's header
Type
Draws
On the price chart
Category
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.
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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