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
80 lines of Pine Script v5 from Tradingview/id50.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
ID50 plots a fast EMA and a slow EMA with a color-coded cloud between them to define trend direction. When price touches the slow EMA, the script measures the size of the retracement against recent extremes over a configurable lookback window. If the pullback meets a minimum pip requirement, bullish or bearish triangle signals are plotted directly 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
EMA Fast Period
int
13
ema_fast_per
EMA Fast Source
source
close
ema_fast_source
EMA Slow Period
int
50
ema_slow_per
EMA Slow Source
source
close
ema_slow_source
Pullback pips minimum
float
25
pullback_min
Max bars back from 50 touch
int
12
max_bars
Pips multiplier
int
10
pips_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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