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This indicator calculates pivot high and pivot low points on the price chart based on configurable left and right bar counts. Confirmed pivot highs and lows are plotted with negative bar offsets directly on the price chart using line and cross styles. Addition
Indicator · Pine Script v5 · On the chart
Quantitative Stock Confluence Finder
The Quantitative Stock Confluence Finder is a Pine Script v5 indicator that plots technical elements directly on the price chart to help identify potential confluence zones in stocks.
Repaints
GitHub stars2on the repository
Pine versionv5runs as is
Lines of code105
Settings22inputs
LicenceNone statedfile: MPL-2.0
Last update2 years ago16 Dec 2023
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
105 lines of Pine Script v5 from quantitative_stock_confluence_finder.pinescript, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// Author: Douglas_Volcato
//Some lines are commented due to TradingView line quantity limit
//@version=5
indicator("Quantitative stock confluence finder", overlay=true)
intraday_analysis = input(false, 'Use day openning price as source')
source_price_input = input.float(4920.00, 'Source price')
sma_length = input(25, title="Simple moving average length")
sma_band_distance = input(10, title="Moving average bands distance")
sma_band_line_width = input(1, title="Moving average bands line width")
sma_band_line_color = input(color.white, title="Moving average bands line color")
distance_from_source_price_band = input(16, title="Distance from source price bands")
source_price_band_width = input(7, title="Source price bands width")
source_price_band_line_color = input(color.yellow, title="Source price bands line color")
source_price_band_line_width = input(1, title="Source price bands line width")
source_price_band_above_bg_color = input(color.red, title="Source price bands above background color")
source_price_band_below_bg_color = input(color.green, title="Source price bands below background color")
source_price_band_transp = input(90, title="Source price bands backgroung transparency")
slow_stochastic_length = input(20, title = 'Slow stochastic length')
slow_stochastic_above = input(80, title = 'Slow stochastic signal above')
slow_stochastic_below = input(20, title = 'Slow stochastic signal below')
slow_stochastic_upper_color = input(color.green, title = 'Slow stochastic signal upper arrow color')
slow_stochastic_lower_color = input(color.red, title = 'Slow stochastic signal lower arrow color')
percentage_distance = input.float(0.5, title="Percentage Distance (%)", minval=0.1, maxval=10, step=0.1)
percentage_line_width = input(2, title="Percentage line width")
percentage_above_color = input(color.red, title="Percentage line color")
percentage_below_color = input(color.green, title="Percentage line color")
[do,dh,dl] = request.security(syminfo.tickerid, "D", [open,high,low], lookahead=barmerge.lookahead_on)
source_price = intraday_analysis ? source_price_input : do
//sma bands
sma_value = ta.sma(close, sma_length)
plot(sma_value, color=color.aqua, linewidth=sma_band_line_width)
plot(sma_value + (sma_band_distance * 1), color=sma_band_line_color, linewidth=sma_band_line_width)
plot(sma_value + (sma_band_distance * 2), color=sma_band_line_color, linewidth=sma_band_line_width)
// plot(sma_value + (sma_band_distance * 3), color=sma_band_line_color, linewidth=sma_band_line_width)
// plot(sma_value + (sma_band_distance * 4), color=sma_band_line_color, linewidth=sma_band_line_width)
plot(sma_value - (sma_band_distance * 1), color=sma_band_line_color, linewidth=sma_band_line_width)
plot(sma_value - (sma_band_distance * 2), color=sma_band_line_color, linewidth=sma_band_line_width)
// plot(sma_value - (sma_band_distance * 3), color=sma_band_line_color, linewidth=sma_band_line_width)
// plot(sma_value - (sma_band_distance * 4), color=sma_band_line_color, linewidth=sma_band_line_width)
//distance from day opening lines
plot(source_price, title="Open", color=color.aqua,linewidth=source_price_band_line_width)
line1 = plot(source_price + (distance_from_source_price_band * 1), title="Open", color=source_price_band_line_color,linewidth=source_price_band_line_width)
line2 = plot(source_price + (distance_from_source_price_band * 1) + source_price_band_width, title="Open", color=source_price_band_line_color,linewidth=source_price_band_line_width)
fill(line1, line2, color=color.new(source_price_band_above_bg_color, source_price_band_transp))
line3 = plot(source_price + (distance_from_source_price_band * 2), title="Open", color=source_price_band_line_color,linewidth=source_price_band_line_width)
line4 = plot(source_price + (distance_from_source_price_band * 2) + source_price_band_width, title="Open", color=source_price_band_line_color,linewidth=source_price_band_line_width)
fill(line3, line4, color=color.new(source_price_band_above_bg_color, source_price_band_transp))
line5 = plot(source_price + (distance_from_source_price_band * 3), title="Open", color=source_price_band_line_color,linewidth=source_price_band_line_width)
line6 = plot(source_price + (distance_from_source_price_band * 3) + source_price_band_width, title="Open", color=source_price_band_line_color,linewidth=source_price_band_line_width)
fill(line5, line6, color=color.new(source_price_band_above_bg_color, source_price_band_transp))
// line7 = plot(source_price + (distance_from_source_price_band * 4), title="Open", color=source_price_band_line_color,linewidth=source_price_band_line_width)
// line8 = plot(source_price + (distance_from_source_price_band * 4) + source_price_band_width, title="Open", color=source_price_band_line_color,linewidth=source_price_band_line_width)
// fill(line7, line8, color=color.new(source_price_band_above_bg_color, source_price_band_transp))
line9 = plot(source_price - (distance_from_source_price_band * 1), title="Open", color=source_price_band_line_color,linewidth=source_price_band_line_width)
line10 = plot(source_price - (distance_from_source_price_band * 1) - source_price_band_width, title="Open", color=source_price_band_line_color,linewidth=source_price_band_line_width)
fill(line9, line10, color=color.new(source_price_band_below_bg_color, source_price_band_transp))
line11 = plot(source_price - (distance_from_source_price_band * 2), title="Open", color=source_price_band_line_color,linewidth=source_price_band_line_width)
line12 = plot(source_price - (distance_from_source_price_band * 2) - source_price_band_width, title="Open", color=source_price_band_line_color,linewidth=source_price_band_line_width)
fill(line11, line12, color=color.new(source_price_band_below_bg_color, source_price_band_transp))
line13 = plot(source_price - (distance_from_source_price_band * 3), title="Open", color=source_price_band_line_color,linewidth=source_price_band_line_width)
line14 = plot(source_price - (distance_from_source_price_band * 3) - source_price_band_width, title="Open", color=source_price_band_line_color,linewidth=source_price_band_line_width)
fill(line13, line14, color=color.new(source_price_band_below_bg_color, source_price_band_transp))
// line15 = plot(source_price - (distance_from_source_price_band * 4), title="Open", color=source_price_band_line_color,linewidth=source_price_band_line_width)
// line16 = plot(source_price - (distance_from_source_price_band * 4) - source_price_band_width, title="Open", color=source_price_band_line_color,linewidth=source_price_band_line_width)
// fill(line15, line16, color=color.new(source_price_band_below_bg_color, source_price_band_transp))
//slow stochastic signal
last_candle_stoch_value = ta.stoch(close[1], high[1], low[1], slow_stochastic_length)
arrow_direction = 0
if (last_candle_stoch_value >= slow_stochastic_above)
arrow_direction := -1
else if (last_candle_stoch_value <= slow_stochastic_below)
arrow_direction := 1
else
arrow_direction := 0
plotarrow(arrow_direction, colordown=slow_stochastic_lower_color,colorup=slow_stochastic_upper_color, offset=1,maxheight=17)
//percentage zones
percentage_distance_value = (percentage_distance * source_price) / 100
plot(source_price + percentage_distance_value, "1", color=percentage_above_color, linewidth=percentage_line_width, style = plot.style_circles)
plot(source_price + 2 * percentage_distance_value, "2", color=percentage_above_color, linewidth=percentage_line_width, style = plot.style_circles)
plot(source_price + 3 * percentage_distance_value, "3", color=percentage_above_color, linewidth=percentage_line_width, style = plot.style_circles)
plot(source_price + 4 * percentage_distance_value, "4", color=percentage_above_color, linewidth=percentage_line_width, style = plot.style_circles)
plot(source_price + 5 * percentage_distance_value, "4", color=percentage_above_color, linewidth=percentage_line_width, style = plot.style_circles)
// plot(source_price + 6 * percentage_distance_value, "4", color=percentage_above_color, linewidth=percentage_line_width, style = plot.style_circles)
// plot(source_price + 7 * percentage_distance_value, "4", color=percentage_above_color, linewidth=percentage_line_width, style = plot.style_circles)
// plot(source_price + 8 * percentage_distance_value, "4", color=percentage_above_color, linewidth=percentage_line_width, style = plot.style_circles)
plot(source_price - percentage_distance_value, "-1", color=percentage_below_color, linewidth=percentage_line_width, style = plot.style_circles)
plot(source_price - 2 * percentage_distance_value, "-2", color=percentage_below_color, linewidth=percentage_line_width, style = plot.style_circles)
plot(source_price - 3 * percentage_distance_value, "-3", color=percentage_below_color, linewidth=percentage_line_width, style = plot.style_circles)
plot(source_price - 4 * percentage_distance_value, "-4", color=percentage_below_color, linewidth=percentage_line_width, style = plot.style_circles)
plot(source_price - 5 * percentage_distance_value, "-4", color=percentage_below_color, linewidth=percentage_line_width, style = plot.style_circles)
// plot(source_price - 6 * percentage_distance_value, "-4", color=percentage_below_color, linewidth=percentage_line_width, style = plot.style_circles)
// plot(source_price - 7 * percentage_distance_value, "-4", color=percentage_below_color, linewidth=percentage_line_width, style = plot.style_circles)
// plot(source_price - 8 * percentage_distance_value, "-4", color=percentage_below_color, linewidth=percentage_line_width, style = plot.style_circles)
Overview
Quantitative Stock Confluence Finder calculates and displays bands around a simple moving average with adjustable distance, plus bands offset from the daily opening price (which can be overridden for intraday analysis). It also plots a slow stochastic oscillator along with arrows signaling overbought and oversold conditions and overlays percentage distance zones. All plots use user-defined colors, widths, and thresholds. The script serves as a visualization aid without predefined entry or exit rules or position sizing.
- SMA bands
- Daily open bands
- Stochastic signals
- Percentage zones
- Confluence levels
Details
Published by
DouglasVolcato on GitHub
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Moving averages, Oscillators & momentum, Support & resistance
Markets
Stocks
Timeframes
Any timeframe
Risk Notes
- Signals can change on the live bar or after it closes (repainting)
- Reads higher-timeframe data with lookahead on, so the history can show signals that were not there in real time
Topics
pinescriptpinescript-indicatorstradingtrading-algorithmstrading-strategiestradingview
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Use day openning price as source | bool | false | intraday_analysis |
| Source price | float | 4920.00 | source_price_input |
| Simple moving average length | int | 25 | sma_length |
| Moving average bands distance | int | 10 | sma_band_distance |
| Moving average bands line width | int | 1 | sma_band_line_width |
| Moving average bands line color | color | color.white | sma_band_line_color |
| Distance from source price bands | int | 16 | distance_from_source_price_band |
| Source price bands width | int | 7 | source_price_band_width |
| Source price bands line color | color | color.yellow | source_price_band_line_color |
| Source price bands line width | int | 1 | source_price_band_line_width |
| Source price bands above background color | color | color.red | source_price_band_above_bg_color |
| Source price bands below background color | color | color.green | source_price_band_below_bg_color |
Show all 22 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Source price bands backgroung transparency | int | 90 | source_price_band_transp |
| Slow stochastic length | int | 20 | slow_stochastic_length |
| Slow stochastic signal above | int | 80 | slow_stochastic_above |
| Slow stochastic signal below | int | 20 | slow_stochastic_below |
| Slow stochastic signal upper arrow color | color | color.green | slow_stochastic_upper_color |
| Slow stochastic signal lower arrow color | color | color.red | slow_stochastic_lower_color |
| Percentage Distance (%) | float | 0.5 | percentage_distance |
| Percentage line width | int | 2 | percentage_line_width |
| Percentage line color | color | color.red | percentage_above_color |
| Percentage line color | color | color.green | percentage_below_color |
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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