MTF Cipher Dots: 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

271 lines of Pine Script v5 from Tradingview/mtf-cipher-dots.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.

mtf-cipher-dots.pine

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © goodgains


//@version=5
indicator("MTF Cipher Dots", overlay = true)

// @keywords: mtf-cipher-dots, wavetrend-multi-timeframe, mtf-dot-signals, chart-timeframe-dots, four-hour-daily-weekly-dots, bull-bear-circles, wave-trend-cross, dot-above-below, oscillator-background, multi-tf-wavetrend, timeframe-label-dots, wt-channel-average, overbought-oversold-wt, request-security-tf, dot-position-offset, buy-sell-char-markers, stacked-timeframes, wt-ma-source, configurable-tf-dots, confluence-dot-display

bull_color1 = input.color(color.new(#1ecd25, 0), title = 'Bull 1', inline = '1')
bull_color2 = input.color(color.new(#346836, 0), title = 'Bull 2', inline = '1')

bear_color1 = input.color(color.new(#e31414, 0), title = 'Bear 1', inline = '1')
bear_color2 = input.color(color.new(#6f2d2d, 0), title = 'Bear 2', inline = '1')



// PARAMETERS {
//  dot settings
use_trade_cond1 = input.bool(true, title = 'Dot Above/Below   ', group = 'Signal Settings', inline = '0')
dot_below       = input.int(0, title = '', group = 'Signal Settings', inline = '0')
dot_above       = input.int(0, title = '', group = 'Signal Settings', inline = '0')

wtChannelLen    = input(9, title='WT Channel Length', group = 'Signal Settings', inline = '1')
wtAverageLen    = input(12, title='WT Average Length', group = 'Signal Settings', inline = '2')
wtMASource      = input(hlc3, title='WT MA Source  ', group = 'Signal Settings', inline = '3')
wtMALen         = input(3, title='WT MA Length  ', group = 'Signal Settings', inline = '4')

// timeframes for dots
use_chart_dots  = input.bool(true, title = 'Chart Dots', group = 'Timeframe Settings', inline = '1')

use_tf1  = input.bool(true, title = 'TF 1', group = 'Timeframe Settings', inline = '2')
tf_1     = input.timeframe('240', title = '', group = 'Timeframe Settings', inline = '2')
tf1_lbl  = input.string('4hr', title = '', group = 'Timeframe Settings', inline = '2')

use_tf2  = input.bool(true, title = 'TF 2', group = 'Timeframe Settings', inline = '3')
tf_2     = input.timeframe('D', title = '', group = 'Timeframe Settings', inline = '3')
tf2_lbl  = input.string('D', title = '', group = 'Timeframe Settings', inline = '3')

use_tf3  = input.bool(false, title = 'TF 3', group = 'Timeframe Settings', inline = '4')
tf_3     = input.timeframe('W', title = '', group = 'Timeframe Settings', inline = '4')
tf3_lbl  = input.string('W', title = '', group = 'Timeframe Settings', inline = '4')

use_tf4  = input.bool(false, title = 'TF 4', group = 'Timeframe Settings', inline = '5')
tf_4     = input.timeframe('5', title = '', group = 'Timeframe Settings', inline = '5')
tf4_lbl  = input.string('5min', title = '', group = 'Timeframe Settings', inline = '5')

use_tf5  = input.bool(false, title = 'TF 5', group = 'Timeframe Settings', inline = '6')
tf_5     = input.timeframe('60', title = '', group = 'Timeframe Settings', inline = '6')
tf5_lbl  = input.string('1hr', title = '', group = 'Timeframe Settings', inline = '6')
// } PARAMETERS



// check errors
// if use_tf1 and timeframe.in_seconds() >= timeframe.in_seconds(tf_1)
//     runtime.error("TF1 cannot be less than the current chart timeframe")
// if use_tf2 and timeframe.in_seconds() >= timeframe.in_seconds(tf_2)
//     runtime.error("TF2 cannot be less than the current chart timeframe")
// if use_tf3 and timeframe.in_seconds() >= timeframe.in_seconds(tf_3)
//     runtime.error("TF3 cannot be less than the current chart timeframe")
// if use_tf4 and timeframe.in_seconds() >= timeframe.in_seconds(tf_4)
//     runtime.error("TF4 cannot be less than the current chart timeframe")
// if use_tf5 and timeframe.in_seconds() >= timeframe.in_seconds(tf_5)
//     runtime.error("TF5 cannot be less than the current chart timeframe")



// FUNCTIONS {
// WaveTrend
f_wavetrend(src, chlen, avg, malen, use_tf) =>
    var float wt1 = 0.00
    var float wt2 = 0.00
    var bool wtCross = false
    var bool dot_buy_signal = false
    var bool dot_sell_signal = false

    if use_tf
        tfsrc = src
        esa = ta.ema(tfsrc, chlen)
        de = ta.ema(math.abs(tfsrc - esa), chlen)
        ci = (tfsrc - esa) / (0.015 * de)

        wt1 := math.round(ta.ema(ci, avg),2)
        wt2 := math.round(ta.sma(wt1, malen),2)
        wtVwap = wt1 - wt2
        wtCross := ta.cross(wt1, wt2)
        signal_side = wt2 - wt1 > 0 ? -1 : 1

        dot_buy_signal := wtCross and signal_side == 1 and (wt2 < dot_below or not use_trade_cond1)
        dot_sell_signal := wtCross and signal_side == -1 and (wt2 > dot_above or not use_trade_cond1)
    else
        wt1 := na
        wt2 := na
        wtCross := na
        dot_buy_signal := na
        dot_sell_signal := na

    [wt1, wt2, wtCross, dot_buy_signal, dot_sell_signal]
// } FUNCTIONS  




// CHART DOTS
[wt1, wt2, wtCross, dot_buy_signal, dot_sell_signal] = f_wavetrend(wtMASource, wtChannelLen, wtAverageLen, wtMALen, true)
signal_side = wt2 - wt1 > 0 ? -1 : 1 
plot(dot_buy_signal ? low : na, title='Bull circle',
 color=color.new(bull_color1,15), style=plot.style_circles, linewidth=3, display = use_chart_dots ? display.all : display.none)
plot(dot_sell_signal ? high : na, title='Bear circle',
 color=color.new(bear_color1,15), style=plot.style_circles, linewidth=3, display = use_chart_dots ? display.all : display.none)

plot(wtCross and signal_side == 1 and not dot_buy_signal ? low : na, title='Other Bull circle', color=color.new(bull_color1,35), style=plot.style_circles, linewidth=3, display = display.none)
plot(wtCross and signal_side == -1 and not dot_sell_signal ? high : na, title='Other Bear circle', color=color.new(bear_color1,35), style=plot.style_circles, linewidth=3, display = display.none)




// DRAW SIGNAL LABEL
f_draw_label(buy_signal, sell_signal, tf_text, buy_color, sell_color) =>
    if buy_signal and not buy_signal[1]
        label.new(bar_index, low, xloc = xloc.bar_index, yloc = yloc.belowbar, text = tf_text,
         color = buy_color, style = label.style_label_up, textcolor = color.white, size = size.small)
    else if sell_signal and not sell_signal[1]
        label.new(bar_index, high, xloc = xloc.bar_index, yloc = yloc.abovebar, text = tf_text,
         color = sell_color, style = label.style_label_down, textcolor = color.white, size = size.small)


f_mtf_label(buy_signal, sell_signal, tf_text, buy_color, sell_color) =>
    if buy_signal and not buy_signal[1]
        label.new(bar_index, low, xloc = xloc.bar_index, yloc = yloc.belowbar, text = tf_text,
         color = buy_color, style = label.style_label_center, textcolor = color.white, size = size.small)
    else if sell_signal and not sell_signal[1]
        label.new(bar_index, high, xloc = xloc.bar_index, yloc = yloc.abovebar, text = tf_text,
         color = sell_color, style = label.style_label_center, textcolor = color.white, size = size.small)




// CALCULATE MTF DOTS
[tf1_wt1, tf1_wt2, tf1_wtCross, tf1_dot_buy_signal, tf1_dot_sell_signal] = 
         request.security(syminfo.ticker, tf_1, f_wavetrend(wtMASource[1], wtChannelLen, wtAverageLen, wtMALen, use_tf1), lookahead = barmerge.lookahead_on)
[tf2_wt1, tf2_wt2, tf2_wtCross, tf2_dot_buy_signal, tf2_dot_sell_signal] = 
         request.security(syminfo.ticker, tf_2, f_wavetrend(wtMASource[1], wtChannelLen, wtAverageLen, wtMALen, use_tf2), lookahead = barmerge.lookahead_on)
[tf3_wt1, tf3_wt2, tf3_wtCross, tf3_dot_buy_signal, tf3_dot_sell_signal] = 
         request.security(syminfo.ticker, tf_3, f_wavetrend(wtMASource[1], wtChannelLen, wtAverageLen, wtMALen, use_tf3), lookahead = barmerge.lookahead_on)
[tf4_wt1, tf4_wt2, tf4_wtCross, tf4_dot_buy_signal, tf4_dot_sell_signal] = 
         request.security(syminfo.ticker, tf_4, f_wavetrend(wtMASource[1], wtChannelLen, wtAverageLen, wtMALen, use_tf4), lookahead = barmerge.lookahead_on)
[tf5_wt1, tf5_wt2, tf5_wtCross, tf5_dot_buy_signal, tf5_dot_sell_signal] = 
         request.security(syminfo.ticker, tf_5, f_wavetrend(wtMASource[1], wtChannelLen, wtAverageLen, wtMALen, use_tf5), lookahead = barmerge.lookahead_on)



// CREATE SIGNALS
can_calculate_tf1 = use_tf1 and timeframe.in_seconds() < timeframe.in_seconds(tf_1)
can_calculate_tf2 = use_tf2 and timeframe.in_seconds() < timeframe.in_seconds(tf_2)
can_calculate_tf3 = use_tf3 and timeframe.in_seconds() < timeframe.in_seconds(tf_3)
can_calculate_tf4 = use_tf4 and timeframe.in_seconds() < timeframe.in_seconds(tf_4)
can_calculate_tf5 = use_tf5 and timeframe.in_seconds() < timeframe.in_seconds(tf_5)

tf1_buy = tf1_dot_buy_signal and not tf1_dot_buy_signal[1] and can_calculate_tf1
tf2_buy = tf2_dot_buy_signal and not tf2_dot_buy_signal[1] and can_calculate_tf2
tf3_buy = tf3_dot_buy_signal and not tf3_dot_buy_signal[1] and can_calculate_tf3
tf4_buy = tf4_dot_buy_signal and not tf4_dot_buy_signal[1] and can_calculate_tf4
tf5_buy = tf5_dot_buy_signal and not tf5_dot_buy_signal[1] and can_calculate_tf5

tf1_sell = tf1_dot_sell_signal and not tf1_dot_sell_signal[1] and can_calculate_tf1
tf2_sell = tf2_dot_sell_signal and not tf2_dot_sell_signal[1] and can_calculate_tf2
tf3_sell = tf3_dot_sell_signal and not tf3_dot_sell_signal[1] and can_calculate_tf3
tf4_sell = tf4_dot_sell_signal and not tf4_dot_sell_signal[1] and can_calculate_tf4
tf5_sell = tf5_dot_sell_signal and not tf5_dot_sell_signal[1] and can_calculate_tf5



var int chart_last = 0
var int tf1_last = 0
var int tf2_last = 0
var int tf3_last = 0
var int tf4_last = 0
var int tf5_last = 0


chart_last := dot_buy_signal ? 1 : dot_sell_signal ? -1 : chart_last[1]
tf1_last := tf1_buy ? 1 : tf1_sell ? -1 : nz(tf1_last[1], 0)
tf2_last := tf2_buy ? 1 : tf2_sell ? -1 : nz(tf2_last[1], 0)
tf3_last := tf3_buy ? 1 : tf3_sell ? -1 : nz(tf3_last[1], 0)
tf4_last := tf4_buy ? 1 : tf4_sell ? -1 : nz(tf4_last[1], 0)
tf5_last := tf5_buy ? 1 : tf5_sell ? -1 : nz(tf5_last[1], 0)


// DISPLAY LABELS
if can_calculate_tf1
    f_draw_label(tf1_buy, tf1_sell, tf1_lbl, bull_color2, bear_color2)

if can_calculate_tf2
    f_draw_label(tf2_buy, tf2_sell, tf2_lbl, bull_color2, bear_color2)

if can_calculate_tf3
    f_draw_label(tf3_buy, tf3_sell, tf3_lbl, bull_color2, bear_color2)

if can_calculate_tf4
    f_draw_label(tf4_buy, tf4_sell, tf4_lbl, bull_color2, bear_color2)

if can_calculate_tf5
    f_draw_label(tf5_buy, tf5_sell, tf5_lbl, bull_color2, bear_color2)



var bool buy_align = false
var bool sell_align = false

var bool tf_align_buy = false
var bool tf_align_sell = false


buy_align := tf1_last >= 0 and tf2_last >= 0 and tf3_last >= 0 and tf4_last >= 0 and tf5_last >= 0
sell_align := tf1_last <= 0 and tf2_last <= 0 and tf3_last <= 0 and tf4_last <= 0 and tf5_last <= 0

tf_align_buy := buy_align and not buy_align[1]
tf_align_sell := sell_align and not sell_align[1]


if (can_calculate_tf1 or can_calculate_tf2 or can_calculate_tf3 or can_calculate_tf4 or can_calculate_tf5)
    f_mtf_label(tf_align_buy, tf_align_sell, "MTF's ALIGN", bull_color2, bear_color2)




// DISPLAY TABLE
var table = table.new(position = position.bottom_right, columns = 1, rows = 7,
     bgcolor = chart.bg_color, frame_color = color.new(chart.fg_color, 70), frame_width = 2,
     border_color = color.new(chart.fg_color, 70), border_width = 1)


if barstate.islast
    table.clear(table, 0,0, 0,6)

    table.cell(table, 0, 0, text = 'Cipher Dots', text_color = chart.fg_color, bgcolor = chart.bg_color, text_size = size.small)

    if use_chart_dots
        table.cell(table, 0, 1, text = 'CHART', text_color = chart.fg_color, text_size = size.small,
             bgcolor = chart_last == 1 ? bull_color2 : bear_color2)

    if can_calculate_tf1
        table.cell(table, 0, 2, text = str.upper(tf1_lbl), text_color = chart.fg_color, text_size = size.small,
             bgcolor = tf1_last == 1 ? bull_color2 : bear_color2)

    if can_calculate_tf2
        table.cell(table, 0, 3, text = str.upper(tf2_lbl), text_color = chart.fg_color, text_size = size.small,
             bgcolor = tf2_last == 1 ? bull_color2 : bear_color2)

    if can_calculate_tf3
        table.cell(table, 0, 4, text = str.upper(tf3_lbl), text_color = chart.fg_color, text_size = size.small,
             bgcolor = tf3_last == 1 ? bull_color2 : bear_color2)

    if can_calculate_tf4
        table.cell(table, 0, 5, text = str.upper(tf4_lbl), text_color = chart.fg_color, text_size = size.small,
             bgcolor = tf4_last == 1 ? bull_color2 : bear_color2)

    if can_calculate_tf5
        table.cell(table, 0, 6, text = str.upper(tf5_lbl), text_color = chart.fg_color, text_size = size.small,
             bgcolor = tf5_last == 1 ? bull_color2 : bear_color2)




// ALERTS
if tf_align_buy
    alert("BUY MTF ALIGN")
if tf_align_sell
    alert("SELL MTF ALIGN")

Overview

MTF Cipher Dots generates bull and bear signals by comparing WaveTrend values to thresholds, with dots appearing when conditions are met above or below user-defined levels. The indicator supports customizable colors for bullish and bearish signals, WaveTrend parameters such as channel length, average length, and source, and includes dots from selected timeframes like the current chart, 4-hour, daily, and weekly. It draws all signals directly on the main price chart for easy visual analysis of multi-timeframe momentum. Settings control dot visibility, positions, and which timeframes contribute signals.

MTF Cipher Dots
WaveTrend Oscillator
Bull Bear Dots
Multi Timeframe Signals
WaveTrend Channel

Details

Published by

g-moe on GitHub

Code credit

goodgains, as written in the script's header

Type

Indicator, Pine Script v5

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

Tradingview/mtf-cipher-dots.pine

Repository

github.com/g-moe/Trading-Indicators. 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
Bull 1	`color`	`color.new(#1ecd25, 0)`	`bull_color1`
Bull 2	`color`	`color.new(#346836, 0)`	`bull_color2`
Bear 1	`color`	`color.new(#e31414, 0)`	`bear_color1`
Bear 2	`color`	`color.new(#6f2d2d, 0)`	`bear_color2`
Dot Above/Below	`bool`	`true`	`use_trade_cond1`
dot_below	`int`	`0`	`dot_below`
dot_above	`int`	`0`	`dot_above`
WT Channel Length	`int`	`9`	`wtChannelLen`
WT Average Length	`int`	`12`	`wtAverageLen`
WT MA Source	`source`	`hlc3`	`wtMASource`
WT MA Length	`int`	`3`	`wtMALen`
Chart Dots	`bool`	`true`	`use_chart_dots`

Show all 27 settings

Setting	Type	Default	Variable
TF 1	`bool`	`true`	`use_tf1`
tf_1	`timeframe`	`240`	`tf_1`
tf1_lbl	`string`	`4hr`	`tf1_lbl`
TF 2	`bool`	`true`	`use_tf2`
tf_2	`timeframe`	`D`	`tf_2`
tf2_lbl	`string`	`D`	`tf2_lbl`
TF 3	`bool`	`false`	`use_tf3`
tf_3	`timeframe`	`W`	`tf_3`
tf3_lbl	`string`	`W`	`tf3_lbl`
TF 4	`bool`	`false`	`use_tf4`
tf_4	`timeframe`	`5`	`tf_4`
tf4_lbl	`string`	`5min`	`tf4_lbl`
TF 5	`bool`	`false`	`use_tf5`
tf_5	`timeframe`	`60`	`tf_5`
tf5_lbl	`string`	`1hr`	`tf5_lbl`

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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