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
Using ADX regimes, EMA 50 against EMA 200, directional indicators, an ATR and volume filter and a candle-body test, it flags trend and range long and short entries. It also outputs the entry price and the stop loss and take profit levels from ATR multiples and risk-reward settings, capped by a maximum stop in points.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
EMA Trend Length
int
200
emaTrendLen
EMA Fast Length
int
50
emaFastLen
ATR Length
int
14
atrLen
DI Length
int
14
diLen
ADX Smoothing
int
14
adxSmooth
ADX EMA
int
5
adxEMA
RSI Length
int
14
rsiLen
ADX Trend Threshold
int
22
adxTrendTh
ADX Range Threshold
int
18
adxRangeTh
Filter ATR Mult
float
1.4
filterATRmul
Filter Body (ATR)
float
0.5
filterBody
Trend RR
float
4.0
trendRR
Show all 18 settings
Setting
Type
Default
Variable
Range RR
float
2.5
rangeRR
Trend ATR SL Mult
float
0.6
trendATRmul
Range ATR SL Mult
float
0.5
rangeATRmul
Hard Max SL (Points)
float
500.0
maxSLPoints
RSI Overbought
int
70
rsiOB
RSI Oversold
int
30
rsiOS
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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