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
A state machine plots buy and sell labels on the confirmation bar, not on the earlier pivot, and by default waits for bar close so the signal does not flicker intrabar. Sensitivity and ZigZag length set the reversal size, and each leg freezes its ATR threshold. Optional support and resistance lines, broken-level bar colors, and two EMAs are drawn on the price chart.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
ZigZag Period (ATR length)
int
4
zigzagPeriod
Reversal Sensitivity (x ATR)
float
1.0
revMultiplier
Show ZigZag
bool
true
showZigzag
Show Support/Resistance
bool
true
showSR
Change Bar Color if S/R Broken
bool
true
changeBarColor
Show HH
bool
false
showHH
Show LH
bool
false
showLH
Show HL
bool
false
showHL
Show LL
bool
false
showLL
Show Buy/Sell Signals
bool
true
showSignals
Signal Style
string
Label
signalStyle
Signal Distance (x ATR)
float
0.35
sigOffsetMult
Show all 17 settings
Setting
Type
Default
Variable
Confirm Signals On Bar Close
bool
true
confirmOnClose
Show EMA 50
bool
true
showEMA50
Show EMA 200
bool
true
showEMA200
EMA Fast Length
int
50
emaFastLen
EMA Slow Length
int
200
emaSlowLen
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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