This indicator plots an ATR-based Chandelier Exit trailing stop on the price chart. It tracks a long stop under recent highs and a short stop above recent lows, then switches direction when price crosses the opposite stop. Buy and sell labels mark those flips.
Indicator · Pine Script v5 · On the chart
Relative Strength Volatility Reversal Channel
Combines four overlays on the price chart.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code69
Settings18inputs
LicenceNone stated
Last update4 years ago28 May 2022
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
A momentum cloud is built from Donchian midpoints, a reversal channel puts bands around a moving average using a multiple of ATR, true range or average range, a thin band tracks smoothed high and low, and an Ichimoku-style cloud marks support and resistance with a displacement setting. Colours change with the cloud direction. It has no signals or alerts.
- Donchian-based momentum cloud
- Moving average channel with ATR bands
- Smoothed high and low trading range
- Ichimoku-style support and resistance cloud
Details
Published by
Tarcusnate on GitHub
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Trend, Volatility & bands
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
Repository
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Momentum1 | int | 8 | MOMOconvP |
| Momentum2 | int | 50 | MOMObaseP |
| Momentum3 | int | 8 | MOMOlaggingSpan2P |
| Projection | int | 1 | projection |
| length | int | 8 | length |
| Multiplier | float | 2.0 | mult |
| Source | source | close | src |
| Use Exponential MA | bool | true | exp |
| Bands Style | string | Average True Range | BandsStyle |
| ATR Length | int | 10 | atrlength |
| TRHigh | int | 1 | len1a |
| src1a | source | high | src1a |
Show all 18 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| TRLow | int | 1 | len1b |
| src1b | source | low | src1b |
| Conversion Line Length | int | 20 | conversionPeriods |
| Base Line Length | int | 60 | basePeriods |
| Leading Span B Length | int | 120 | laggingSpan2Periods |
| Displacement | int | 1 | displacement |
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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