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
Ichimoku Bands
This indicator plots Ichimoku-style conversion and base lines as Donchian midpoints on the price chart, then surrounds each line with upper and lower bands derived from the standard deviation of that line.
GitHub stars24on the repository
Pine versionv5runs as is
Lines of code72
Settings4inputs
LicenceMPL-2.0
Last update4 years ago5 Oct 2022
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
72 lines of Pine Script v5 from Ichimoku Bands.pine, published under MPL-2.0. Keep the author's credit and licence lines when you reuse it.
//@version=5
//
// Author: benso87
// benso87.com
//
//
indicator('Ichimoku Bands', shorttitle='Ichi Bands', precision=2, max_bars_back=500, overlay=true)
////////////////////////////////////////////////////////////
// Inputs
conversionPeriods = input.int(9, minval=1, title="Conversion Line Length")
basePeriods = input.int(26, minval=1, title="Base Line Length")
length = input.int(20, minval=1, title='Standard Dev Length')
mult = input.float(2.0, minval=0.001, maxval=50, title="Standard Dev Multiplier")
////////////////////////////////////////////////////////////
// Functions
nocolor=color.new(color.white, transp=100)
// Moving average type
f_ma(source, length, type) =>
switch type
'SMA' => ta.sma(source, length)
'EMA' => ta.ema(source, length)
'RMA' => ta.rma(source, length)
'WMA' => ta.wma(source, length)
// Donchian
donchian(len) =>
math.avg(ta.lowest(len), ta.highest(len))
// Upper
upper(basis, dev) =>
basis + dev
// Lower
lower(basis, dev) =>
basis - dev
////////////////////////////////////////////////////////////
// Calculations
conversionLine = donchian(conversionPeriods)
cDev = mult * ta.stdev(conversionLine, length)
cUpper = upper(conversionLine, cDev)
cLower = lower(conversionLine, cDev)
baseLine = donchian(basePeriods)
bDev = mult * ta.stdev(baseLine, length)
bUpper = upper(baseLine, bDev)
bLower = lower(baseLine, bDev)
////////////////////////////////////////////////////////////
// Plots
plot(conversionLine, linewidth=2, color=#2962FF, title="Conversion Line")
plot(cUpper, linewidth=1, color=#2962FF, title="Conversion Upper")
plot(cLower, linewidth=1, color=#2962FF, title="Conversion Lower")
plot(baseLine, linewidth=2, color=#B71C1C, title="Base Line")
plot(bUpper, linewidth=1, color=#B71C1C, title="Base Upper")
plot(bLower, linewidth=1, color=#B71C1C, title="Base Lower")
////////////////////////////////////////////////////////////
// Alerts
Overview
The conversion and base lengths set the lookback for each midpoint, while the standard deviation length and multiplier set band width. Blue plots show the conversion line and its bands; red plots show the base line and its bands. It does not generate entry or exit signals, and the alerts section is empty.
- Donchian conversion and base lines
- Standard deviation bands around each line
- Adjustable conversion and base lengths
- Adjustable deviation length and multiplier
- Price-chart overlay plots
Details
Published by
benso87 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.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Conversion Line Length | int | 9 | conversionPeriods |
| Base Line Length | int | 26 | basePeriods |
| Standard Dev Length | int | 20 | length |
| Standard Dev Multiplier | float | 2.0 | mult |
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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