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
Sideway Zones Live tracks swing pivots over a loopback period and counts bars that remain between the outer high and low. After a minimum consolidation length, a new swing beyond that range sets an upside or downside breakout flag. Settings change zone lengths, kernel lookback, relative weighting, the regression start bar, the pivot period, and the shortest consolidation. It draws on the price chart. The excerpt ends before any plot or line output.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Zone Inside Length
int
3
zoneLengths
Zone Outside Length
int
3
zoneOutsideLengths
Lookback Window
int
3
lookbackWindow
Relative Weighting
float
8.
relativeWeighting
Start Regression at Bar
int
25
startBar
Loopback Period
int
9
prd
Min Consolidation Length
int
3
conslen
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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