This strategy implements a six-state market regime classifier based on the Melgo Sequence, categorizing market action into bull and bear trends, rejections, indecision, distribution, and accumulation.
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 strategy, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.
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
Signals are derived using synthesized price data and require multi-timeframe consensus combined with a minimum ATR spread threshold. Exits execute through configurable ATR multiple take-profit and stop-loss orders alongside an exit cooldown timer. It plots directly on the main price chart. Recalculation on order fills can lead to intrabar repainting on historical bars.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Price Source (NA/SC/FOT)
string
HLC3
tn_priceSource
Trend Strength Threshold
float
0.6
tn_trendStrength
Rejection Threshold
float
0.3
tn_rejectionThresh
Distribution Threshold
float
0.4
tn_distribThresh
Accumulation Threshold
float
0.4
tn_accumThresh
Min Spread (ATR×) for Entry
float
2.0
tn_spreadMin
Min TFs for Consensus
int
2
tn_consensusCount
ATR Length
int
14
tn_atrLen
Stop-Loss (ATR×)
float
1.5
tn_slMult
Take-Profit (ATR×)
float
3.0
tn_tpMult
Cooldown Bars After Exit
int
3
tn_cooldown
Position % of Equity
float
100
tn_posPct
Show all 14 settings
Setting
Type
Default
Variable
Trade Direction
string
Both
tn_dirMode
Show Entry Labels
bool
true
tn_showLabels
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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