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
The correction rate is scheduled by efficiency and volatility weighting, can be biased by direction, and the filter structure can be Standard, Wilder, Double, Triple, Gaussian or Hull. A state filter with confirmation bars decides the bullish or bearish color. A gradient layer, bar coloring and presets for fast, default and smooth use are provided.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Preset Configuration
string
Default
preset
Price Source
source
close
src
Filter Structure
string
Standard
kernel
Recursion Rate
float
0.12
gain_base
Correction Weight
float
0.008
corr_gain
Correction Decay
float
0.98
corr_decay
Correction Limiter
bool
false
use_limiter
Limiter Ceiling (ATR)
float
0.75
limit_cap
Enable Efficiency Weighting
bool
true
use_eff
Efficiency Lookback
int
10
eff_len
Efficiency Floor
float
0.35
eff_floor
Enable Volatility Weighting
bool
true
use_vol
Show all 30 settings
Setting
Type
Default
Variable
Volatility Length
int
14
vol_len
Volatility Baseline Length
int
50
vol_baselen
Rate Floor
float
0.02
gain_floor
Rate Ceiling
float
0.40
gain_ceil
Enable Directional Bias
bool
true
use_bias
Upside Rate Bias
float
1.25
bias_up
Downside Rate Bias
float
0.85
bias_dn
State Filter Length
int
3
slope_len
State Confirmation Bars
int
2
flip_bars
Color Preset
string
Custom
color_preset
Bullish Color
color
#00ffaa
bullish_input
Bearish Color
color
#ff0000
bearish_input
Line Width
int
3
line_width
Show Gradient Layer
bool
true
show_field
Gradient Width
float
0.5
field_width
Gradient Opacity
int
30
field_opacity
Enable Bar Coloring
bool
false
show_candles
Bar Color Transparency
int
0
bar_trans
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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