A separate-pane indicator that measures how far price sits from a weekly midline (average of a weekly EMA and SMA), scales the gap by daily and weekly ATR ratios, and converts it into a heat value from 0 to 100.
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
Columns are coloured by heat level and faded when heat declines. Triangles mark a push above the high-heat threshold and circles mark exhaustion after a peak. It also labels a phase and an ATR regime, and shows a small diagnostic table. Inputs set the EMA, SMA and ATR lengths.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
ema_len
int
21
ema_len
sma_len
int
20
sma_len
atr_len_d
int
14
atr_len_d
atr_len_w
int
14
atr_len_w
atr_regime_len
int
20
atr_regime_len
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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