This indicator detects equal highs and lows by comparing prices within user-defined left and right bars using a tolerance percentage. It plots horizontal lines on the price chart for equal highs in one color and lows in another. A screener allows input of mult
Indicator · Pine Script v6 · On the chart
Linear Decay (DECAY)
This indicator calculates a linear decay filter over a selected price source and plots the result directly on the price chart.
GitHub stars99on the repository
Pine versionv6current
Lines of code32
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
32 lines of Pine Script v6 from lib/numerics/decay/decay.pine, published under Apache-2.0. Keep the author's credit and licence lines when you reuse it.
// Licensed under the Apache License, Version 2.0
// © mihakralj
//@version=6
indicator("Linear Decay (DECAY)", "DECAY", overlay=true)
//@function Calculates linear decay: output = max(input, prev_output - 1/period)
//@param source Source price series
//@param length Decay period
//@returns Decayed value that tracks peaks and descends linearly
decay(series float source, simple int length) =>
var float prev = na
float scale = 1.0 / length
float result = na
if na(prev)
result := source
else
float d = prev - scale
result := source > d ? source : d
prev := result
result
// ---------- Main loop ----------
// Inputs
i_source = input.source(close, "Source")
i_length = input.int(5, "Length", minval=1)
// Calculate Decay
float decay_val = decay(i_source, i_length)
// Plot
plot(decay_val, "Decay", color=color.yellow, linewidth=2)
Overview
The algorithm tracks local peaks and descends linearly by a fixed step equal to the inverse of the specified period whenever the price falls below the decayed level. Users can configure the source series and the decay period length. The tool acts as a linear trailing envelope or memory filter without generating automated buy or sell execution signals.
- Linear decay filter calculation
- Peak tracking with constant linear falloff
- Configurable input price source and period length
- Direct price chart overlay display
Details
Published by
mihakralj on GitHub
Type
Indicator, Pine Script v6
Draws
On the price chart
Category
Trend, Support & resistance
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 |
|---|---|---|---|
| Source | source | close | i_source |
| Length | int | 5 | i_length |
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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