Probability Grid [LuxAlgo]: Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

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

Probability Grid [LuxAlgo] analyzes price movements over a configured swing length and maximum reversal count to project probability zones directly onto the price chart. Users can evaluate how far prices typically extend beyond or within specific percentile thresholds. Input settings allow traders to adjust the pivot detection length, toggle data normalization, select probability computation modes, and customize individual percentile levels and line styles.

Historical pivot high and low detection
Percentile-based grid level projection
Flexible probability calculation modes
Customizable percentile levels and line styles

Details

Published by

regalouisei on GitHub

Code credit

LuxAlgo, as written in the script's header

Type

Indicator, Pine Script v6

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

pinescript/editors_picks/probability-grid-luxalgo.pine

Repository

github.com/regalouisei/collect-tradingview. 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
Swing Length	`int`	`20`	`lengthInput`
Maximum Reversals	`int`	`1000`	`maxPivotsInput`
Normalize Data	`bool`	`true`	`normalizeDataInput`
Probability	`string`	`BEYOND`	`probabilityModeInput`
percentile0Input	`bool`	`true`	`percentile0Input`
percentile0DataInput	`int`	`0`	`percentile0DataInput`
percentile0StyleInput	`string`	`DOTTED`	`percentile0StyleInput`
percentile1Input	`bool`	`true`	`percentile1Input`
percentile1DataInput	`int`	`10`	`percentile1DataInput`
percentile1StyleInput	`string`	`DOTTED`	`percentile1StyleInput`
percentile2Input	`bool`	`true`	`percentile2Input`
percentile2DataInput	`int`	`20`	`percentile2DataInput`

Show all 40 settings

Setting	Type	Default	Variable
percentile2StyleInput	`string`	`DOTTED`	`percentile2StyleInput`
percentile3Input	`bool`	`true`	`percentile3Input`
percentile3DataInput	`int`	`30`	`percentile3DataInput`
percentile3StyleInput	`string`	`DOTTED`	`percentile3StyleInput`
percentile4Input	`bool`	`true`	`percentile4Input`
percentile4DataInput	`int`	`40`	`percentile4DataInput`
percentile4StyleInput	`string`	`DOTTED`	`percentile4StyleInput`
percentile5Input	`bool`	`true`	`percentile5Input`
percentile5DataInput	`int`	`50`	`percentile5DataInput`
percentile5StyleInput	`string`	`DOTTED`	`percentile5StyleInput`
percentile6Input	`bool`	`true`	`percentile6Input`
percentile6DataInput	`int`	`60`	`percentile6DataInput`
percentile6StyleInput	`string`	`DOTTED`	`percentile6StyleInput`
percentile7Input	`bool`	`true`	`percentile7Input`
percentile7DataInput	`int`	`70`	`percentile7DataInput`
percentile7StyleInput	`string`	`DOTTED`	`percentile7StyleInput`
percentile8Input	`bool`	`true`	`percentile8Input`
percentile8DataInput	`int`	`80`	`percentile8DataInput`
percentile8StyleInput	`string`	`DOTTED`	`percentile8StyleInput`
percentile9Input	`bool`	`true`	`percentile9Input`
percentile9DataInput	`int`	`90`	`percentile9DataInput`
percentile9StyleInput	`string`	`DOTTED`	`percentile9StyleInput`
Show Dashboard	`bool`	`false`	`showDashboardInput`
Position	`string`	`TOP_RIGHT`	`dashboardPositionInput`
Size	`string`	`NORMAL`	`dashboardSizeInput`
Show Grid	`bool`	`true`	`gridInput`
Size	`string`	`NORMAL`	`gridSizeInput`
bullishColorInput	`color`	`color.new(GREEN,80)`	`bullishColorInput`

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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