Strategy · Pine Script v6 · On the chart

TeleNexus Sovereign — Melgo Sequence v6

by raybird

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.

View on GitHub

Repaints

GitHub stars1on the repository
Pine versionv6current
Lines of code304
Settings14inputs
LicenceNone stated
Last update2 months ago15 Aug 2026

Add It to Your TradingView Chart

  1. 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
  2. 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
  3. 3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
  4. 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.

Details

Published by

raybird on GitHub

Type

Strategy, Pine Script v6

Draws

On the price chart

Category

Trend, SMC / ICT / price action

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

  • Signals can change on the live bar or after it closes (repainting)

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

SettingTypeDefaultVariable
Price Source (NA/SC/FOT)stringHLC3tn_priceSource
Trend Strength Thresholdfloat0.6tn_trendStrength
Rejection Thresholdfloat0.3tn_rejectionThresh
Distribution Thresholdfloat0.4tn_distribThresh
Accumulation Thresholdfloat0.4tn_accumThresh
Min Spread (ATR×) for Entryfloat2.0tn_spreadMin
Min TFs for Consensusint2tn_consensusCount
ATR Lengthint14tn_atrLen
Stop-Loss (ATR×)float1.5tn_slMult
Take-Profit (ATR×)float3.0tn_tpMult
Cooldown Bars After Exitint3tn_cooldown
Position % of Equityfloat100tn_posPct
Show all 14 settings
SettingTypeDefaultVariable
Trade DirectionstringBothtn_dirMode
Show Entry Labelsbooltruetn_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.

Similar Pine Scripts

57 stars

This strategy identifies trend reversals through market structure changes (CHoCH) filtered by MACD momentum. It initiates long positions on bullish structure breaks when MACD is positive and above its signal line, and short positions on bearish breaks when MAC

Strategy v6 SMC / ICT / price actionOscillators & momentum Repaints
Updated 1 year ago · Apache-2.0 GitHub repository of Market Structure MACD 4H + Trailing

FilledValueGap A006

by ruckard
13 stars

This strategy enters trades in the opposite direction of filled value gaps, operating under the assumption that price action will resume the primary trend after filling a recent gap. It plots directly on the main price chart and supports MA-based trend filters

Strategy v5 SMC / ICT / price actionTrend
Updated 1 year ago · None stated GitHub repository of FilledValueGap A006
12 stars

This strategy is titled for Bitcoin on the four-hour chart and is set to draw on the price chart. It detects three-candle fair value gaps and inverted gaps, and it defines a check for price near a gap midpoint within a percentage tolerance. An optional filter

Strategy v6 SMC / ICT / price actionTrend
Updated 4 months ago · None stated GitHub repository of BTC 4h FVG/iFVG Automated Strategy

More strategys

Trade Your Charts With a Regulated Broker

Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.

Compare brokers