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
One measures price impulse, rewarding large-body candles relative to ATR, and the other applies volume spread analysis using volume, spread and close location. It labels events such as climaxes, upthrusts and springs, flags hidden accumulation or distribution when the two disagree, colors bars, and shows a dashboard. Weights, thresholds and lookback are adjustable.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Lookback (bars)
int
20
len
ATR Normalisation
int
14
atrLen
Price Impulse Convexity
float
2.0
convexity
Smoothing
int
3
smooth
Price-Impulse Weight
float
0.5
wPrice
VSA Weight
float
0.5
wVSA
Ultra-High Volume x avg
float
2.0
ultraMult
High Volume x avg
float
1.4
highMult
Low Volume x avg
float
0.7
lowMult
Wide Spread x avg
float
1.5
wideMult
Narrow Spread x avg
float
0.7
narrowMult
Close-Location Edge
float
0.3
clvEdge
Show all 19 settings
Setting
Type
Default
Variable
Show VSA Signal Labels
bool
true
showVSA
Detect Hidden Accumulation/Distribution
bool
true
showDiv
Divergence Threshold
float
30
divThresh
Bull Color
color
#26a69a
colBull
Bear Color
color
#ef5350
colBear
Color Bars by Composite Bias
bool
true
colorBars
Show Dashboard
bool
true
showTable
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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