Hotch v1.02: Free TradingView Indicator (Pine Script)

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

246 lines of Pine Script v4 from Hotch.txt, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.

Hotch.txt

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © plewis22782
//@version=4
//
study("Hotch v1.02", overlay=true)


n = input(title="Periods", defval=2, minval=2, type=input.integer)


// UpFractal
bool upflagDownFrontier = true
bool upflagUpFrontier0 = true
bool upflagUpFrontier1 = true
bool upflagUpFrontier2 = true
bool upflagUpFrontier3 = true
bool upflagUpFrontier4 = true

for i = 1 to n
    upflagDownFrontier := upflagDownFrontier and (high[n-i] < high[n])
    upflagUpFrontier0 := upflagUpFrontier0 and (high[n+i] < high[n])
    upflagUpFrontier1 := upflagUpFrontier1 and (high[n+1] <= high[n] and high[n+i + 1] < high[n])
    upflagUpFrontier2 := upflagUpFrontier2 and (high[n+1] <= high[n] and high[n+2] <= high[n] and high[n+i + 2] < high[n])
    upflagUpFrontier3 := upflagUpFrontier3 and (high[n+1] <= high[n] and high[n+2] <= high[n] and high[n+3] <= high[n] and high[n+i + 3] < high[n])
    upflagUpFrontier4 := upflagUpFrontier4 and (high[n+1] <= high[n] and high[n+2] <= high[n] and high[n+3] <= high[n] and high[n+4] <= high[n] and high[n+i + 4] < high[n])
flagUpFrontier = upflagUpFrontier0 or upflagUpFrontier1 or upflagUpFrontier2 or upflagUpFrontier3 or upflagUpFrontier4

upFractal = (upflagDownFrontier and flagUpFrontier)


// downFractal
bool downflagDownFrontier = true
bool downflagUpFrontier0 = true
bool downflagUpFrontier1 = true
bool downflagUpFrontier2 = true
bool downflagUpFrontier3 = true
bool downflagUpFrontier4 = true

for i = 1 to n
    downflagDownFrontier := downflagDownFrontier and (low[n-i] > low[n])
    downflagUpFrontier0 := downflagUpFrontier0 and (low[n+i] > low[n])
    downflagUpFrontier1 := downflagUpFrontier1 and (low[n+1] >= low[n] and low[n+i + 1] > low[n])
    downflagUpFrontier2 := downflagUpFrontier2 and (low[n+1] >= low[n] and low[n+2] >= low[n] and low[n+i + 2] > low[n])
    downflagUpFrontier3 := downflagUpFrontier3 and (low[n+1] >= low[n] and low[n+2] >= low[n] and low[n+3] >= low[n] and low[n+i + 3] > low[n])
    downflagUpFrontier4 := downflagUpFrontier4 and (low[n+1] >= low[n] and low[n+2] >= low[n] and low[n+3] >= low[n] and low[n+4] >= low[n] and low[n+i + 4] > low[n])
flagDownFrontier = downflagUpFrontier0 or downflagUpFrontier1 or downflagUpFrontier2 or downflagUpFrontier3 or downflagUpFrontier4

downFractal = (downflagDownFrontier and flagDownFrontier)


rsiSource = input(title="RSI Source", type=input.source, defval=close)
rsiLength = input(title="RSI Length", type=input.integer, defval=14)
rsiValue = rsi(rsiSource, rsiLength)
rsiLookback = input(title="RSI Lookback", type=input.integer, defval=3)

ifRsiB40 = lowest(rsiValue,rsiLookback)<= 40 and lowest(rsiValue,rsiLookback)>30
ifRsiB30 = lowest(rsiValue,rsiLookback)<= 30 and lowest(rsiValue,rsiLookback)>20
ifRsiB20 = lowest(rsiValue,rsiLookback)<= 20 and lowest(rsiValue,rsiLookback)>0



plotB40 = ifRsiB40 and (downflagDownFrontier and flagDownFrontier)
plotB30 = ifRsiB30 and (downflagDownFrontier and flagDownFrontier)
plotB20 = ifRsiB20 and (downflagDownFrontier and flagDownFrontier)


plotshape(plotB40,  location=location.belowbar, offset=-n, color=#B0FF9E, style=shape.triangleup, size = size.small )  
plotshape(plotB30,  location=location.belowbar, offset=-n, color=#1EFF00, style=shape.triangleup, size = size.small )  
plotshape(plotB20,  location=location.belowbar, offset=-n, color=#0A5200, style=shape.triangleup, size = size.small )  



ifRsiO60 = highest(rsiValue,rsiLookback)>= 60 and highest(rsiValue,rsiLookback)<70
ifRsiO70 = highest(rsiValue,rsiLookback)>= 70 and highest(rsiValue,rsiLookback)<80
ifRsiO80 = highest(rsiValue,rsiLookback)>= 80 and highest(rsiValue,rsiLookback)<100


plotO60 = ifRsiO60 and (upflagDownFrontier and flagUpFrontier)
plotO70 = ifRsiO70 and (upflagDownFrontier and flagUpFrontier)
plotO80 = ifRsiO80 and (upflagDownFrontier and flagUpFrontier)


plotshape(plotO60,  location=location.abovebar, offset=-n, color=#FF9B94, style=shape.triangledown, size = size.small )
plotshape(plotO70,  location=location.abovebar, offset=-n, color=#FF0008, style=shape.triangledown, size = size.small )
plotshape(plotO80,  location=location.abovebar, offset=-n, color=#750004, style=shape.triangledown, size = size.small )

//Vwap
computeVWAP(src, isNewPeriod, stDevMultiplier) =>
    var float sumSrcVol = na
    var float sumVol = na
    var float sumSrcSrcVol = na
    
    sumSrcVol := isNewPeriod ? src * volume : src * volume + sumSrcVol[1]
    sumVol := isNewPeriod ? volume : volume + sumVol[1]
    // sumSrcSrcVol calculates the dividend of the equation that is later used to calculate the standard deviation
    sumSrcSrcVol := isNewPeriod ? volume * pow(src, 2) : volume * pow(src, 2) + sumSrcSrcVol[1]
    
    _vwap = sumSrcVol / sumVol
    variance = sumSrcSrcVol / sumVol - pow(_vwap, 2)
    variance := variance < 0 ? 0 : variance
    stDev = sqrt(variance)
    
    lowerBand = _vwap - stDev * stDevMultiplier
    upperBand = _vwap + stDev * stDevMultiplier
    
    [_vwap, lowerBand, upperBand]

hideonDWM = input(false, title="Hide VWAP on 1D or Above", group="VWAP Settings")
var anchor = input(defval = "Session", title="Anchor Period", type=input.string, 
 options=["Session", "Week", "Month", "Quarter", "Year", "Decade", "Century", "Earnings", "Dividends", "Splits"], group="VWAP Settings")
src = input(title = "Source", type = input.source, defval = hlc3, group="VWAP Settings")
offset = input(0, title="Offset", group="VWAP Settings")

showBands = input(true, title="Calculate Bands", group="Standard Deviation Bands Settings")
stdevMult = input(2.0, title="Bands Multiplier", group="Standard Deviation Bands Settings")

timeChange(period) =>
    change(time(period))

new_earnings = earnings(syminfo.tickerid, earnings.actual, barmerge.gaps_on, barmerge.lookahead_on)
new_dividends = dividends(syminfo.tickerid, dividends.gross, barmerge.gaps_on, barmerge.lookahead_on)
new_split = splits(syminfo.tickerid, splits.denominator, barmerge.gaps_on, barmerge.lookahead_on)

isNewPeriod = anchor == "Earnings" ? new_earnings :
 anchor == "Dividends" ? new_dividends :
 anchor == "Splits" ? new_split :
 na(src[1]) ? true :
 anchor == "Session" ? timeChange("D") :
 anchor == "Week" ? timeChange("W") :
 anchor == "Month" ? timeChange("M") :
 anchor == "Quarter" ? timeChange("3M") :
 anchor == "Year" ? timeChange("12M") :
 anchor == "Decade" ? timeChange("12M") and year % 10 == 0 :
 anchor == "Century" ? timeChange("12M") and year % 100 == 0 :
 false
    
float vwapValue = na
float std = na
float upperBandValue = na
float lowerBandValue = na

if not (hideonDWM and timeframe.isdwm)
    [_vwap, bottom, top] = computeVWAP(src, isNewPeriod, stdevMult)
    vwapValue := _vwap
    upperBandValue := showBands ? top : na
    lowerBandValue := showBands ? bottom : na

plot(vwapValue, title="VWAP", color=#2962FF, offset=offset)

upperBand = plot(upperBandValue, title="Upper Band", color=color.green, offset=offset)
lowerBand = plot(lowerBandValue, title="Lower Band", color=color.green, offset=offset)

fill(upperBand, lowerBand, title="Bands Fill", color= showBands ? color.new(color.green, 95) : na)

// ATR Bands

atrlength = input(title="ATR Length", defval=3, minval=1)
smoothing = input(title="ATR Smoothing", defval="RMA", options=["RMA", "SMA", "EMA", "WMA"])
ma_function(source, atrlength) =>
    if smoothing == "RMA"
        rma(source, atrlength)
    else
        if smoothing == "SMA"
            sma(source, atrlength)
        else
            if smoothing == "EMA"
                ema(source, atrlength)
            else
                wma(source, atrlength)
                
ATR = ma_function(tr(true), atrlength)


var bool longcondA      = na
var bool shortcondA         = na
var bool showLongA               = na
var bool showShortA              = na
var bool longcondB      = na
var bool shortcondB         = na
var bool showLongB               = na
var bool showShortB              = na
var bool showOnlyFirstSignal    = true


/////////////////////////////////////////////////////// Long and Short Conditions /////////////////////////////////////////////////////////////

//enter long trades when price is over MA and below https://www.tradingview.com/chart/NJKISpRE/#rsiOversold at bar close
//enter short trade when price is under MA and over rsiOverbought at bar close

//Get simple moving average user inputs 

len1 = input(title= "MA Period", type=input.integer, defval=1000)
//input(21, minval=1, title="Length 1", group = "Smoothed MA Inputs")
src1 = close
//input(close, title="Source 1", group = "Smoothed MA Inputs")
smma1 = 0.0
sma_1 = sma(src1, len1)
smma1 := na(smma1[1]) ? sma_1 : (smma1[1] * (len1 - 1) + src1) / len1
plot(smma1, color=color.white, linewidth=2, title="SMMA")
//get user inputs


rsiOverboughtA = input(title="RSI Overbought", type=input.integer,defval=70)
rsiOversoldA = input(title="RSI Oversold", type=input.integer,defval=30)

//Get RSI Value
var bool wasRsiOBA = na
var bool wasRsiOSA = na



ifRsiOBA = rsiValue>= rsiOverboughtA
ifRsiOSA = rsiValue<= rsiOversoldA


if ifRsiOBA 
    wasRsiOBA := true
if ifRsiOSA 
    wasRsiOSA := true
    
buySigA = downFractal and wasRsiOSA
sellSigA = upFractal and wasRsiOBA
plotshape(sellSigA,  location=location.top, color=color.orange, style=shape.triangledown, size = size.small )
plotshape(buySigA,  location=location.bottom, color=color.blue, style=shape.triangleup, size = size.small )  

alertcondition(sellSigA, title="Sell Signal", message= "Potential selling point")
alertcondition(buySigA, title="Buy Signal", message= "Potential buying point")
//entrylogic
// long  = ifRsiOS && price over SMA
// short = IfRsiOB && price under SMA


longconditionA = wasRsiOSA and downFractal
shortconditionA = wasRsiOBA and upFractal

//

showLongA       := showOnlyFirstSignal ? longconditionA  and not longconditionA[1]  : longcondA
showShortA       := showOnlyFirstSignal ? shortconditionA and not shortconditionA[1] : shortcondA


if (showLongA) 
    wasRsiOSA := false
    
if (showShortA) 
    wasRsiOBA:=false

Overview

When a down fractal forms after RSI dipped into one of three bands, up triangles of different shades appear under the bar, offset back to the fractal bar so markers show after confirmation. Mirror logic marks overbought highs. It also offers a VWAP with standard deviation bands, ATR and a long moving average. RSI levels and lookback are adjustable.

Fractal detection with adjustable period
RSI band filter on recent lows and highs
Graded triangle markers by RSI zone
Anchored VWAP with deviation bands

Details

Published by

rajatjpatel on GitHub

Code credit

plewis22782, as written in the script's header

Type

Indicator, Pine Script v4

Draws

On the price chart

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.

File

Hotch.txt

Repository

github.com/rajatjpatel/pine. See its other scripts in the library

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Periods	`int`	`2`	`n`
RSI Source	`source`	`close`	`rsiSource`
RSI Length	`int`	`14`	`rsiLength`
RSI Lookback	`int`	`3`	`rsiLookback`
Hide VWAP on 1D or Above	`bool`	`false`	`hideonDWM`
Anchor Period	`string`	`Session`	`anchor`
Source	`source`	`hlc3`	`src`
Offset	`int`	`0`	`offset`
Calculate Bands	`bool`	`true`	`showBands`
Bands Multiplier	`float`	`2.0`	`stdevMult`
ATR Length	`int`	`3`	`atrlength`
ATR Smoothing	`string`	`RMA`	`smoothing`

Show all 15 settings

Setting	Type	Default	Variable
MA Period	`int`	`1000`	`len1`
RSI Overbought	`int`	`70`	`rsiOverboughtA`
RSI Oversold	`int`	`30`	`rsiOversoldA`

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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