This indicator plots an ATR-based Chandelier Exit trailing stop on the price chart. It tracks a long stop under recent highs and a short stop above recent lows, then switches direction when price crosses the opposite stop. Buy and sell labels mark those flips.
Indicator · Pine Script v5 · On the chart
Holt-Winters Channel
This overlay indicator estimates a Holt-Winters-style level, trend, and acceleration from the close, then projects a middle line one step ahead.
GitHub stars99on the repository
Pine versionv5runs as is
Lines of code24
Settings2inputs
LicenceApache-2.0
Last update4 weeks ago27 Sep 2026
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
24 lines of Pine Script v5 from lib/channels/hwc/hwc.pine, published under Apache-2.0. Keep the author's credit and licence lines when you reuse it.
//@version=5
indicator("Holt-Winters Channel", "HWC", overlay=true)
period = input.int(20, minval=1)
multiplier = input.float(1.0, minval=0.0)
alpha = 2.0 / (period + 1.0)
beta = 1.0 / period
gamma = 1.0 / period
var float level = na
var float trend = 0.0
var float acceleration = 0.0
var float error = 0.0
forecast = nz(level) + trend + 0.5 * acceleration
newLevel = na(level) ? close : alpha * close + (1.0 - alpha) * forecast
newTrend = beta * (newLevel - nz(level)) + (1.0 - beta) * (trend + acceleration)
newAcceleration = gamma * (newTrend - trend) + (1.0 - gamma) * acceleration
error := na(level) ? 0.0 : alpha * math.pow(close - forecast, 2) + (1.0 - alpha) * error
level := newLevel
trend := newTrend
acceleration := newAcceleration
middle = level + trend + 0.5 * acceleration
band = multiplier * math.sqrt(error)
plot(middle, "Middle", color=color.blue)
plot(middle + band, "Upper", color=color.green)
plot(middle - band, "Lower", color=color.red)
Overview
Holt-Winters Channel tracks a smoothed squared forecast error and multiplies its square root by the multiplier to form upper and lower bands. The period input sets the smoothing rates for level, trend, and acceleration. It draws the middle, upper, and lower lines on the price chart and does not generate entries, exits, or stop rules.
- Holt-Winters level, trend, and acceleration
- One-step middle forecast line
- Smoothed squared forecast error bands
- Adjustable period and band multiplier
- Middle, upper, and lower plots on the price chart
Details
Published by
mihakralj on GitHub
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Trend, Volatility & bands
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.
Topics
algorithmic-tradingcsharpdotnetpinescriptpythonquantitative-financesimdta-libtechnical-analysistechnical-indicators
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| period | int | 20 | period |
| multiplier | float | 1.0 | multiplier |
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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