This indicator detects equal highs and lows by comparing prices within user-defined left and right bars using a tolerance percentage. It plots horizontal lines on the price chart for equal highs in one color and lows in another. A screener allows input of mult
Indicator · Pine Script v5 · On the chart
Thange Woodwind Playbook
A chart indicator built on Ichimoku-style components, with short-term, mid-term and long-term equilibrium lines, a lagging span and a cloud called the resistance band.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code1,207
Settings40inputs
LicenceCustom licence
Last update3 years ago25 Sep 2023
Add It to Your TradingView Chart
- 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
Thange Woodwind Playbook shows entry and exit signals and plans position size from an account size and maximum risk per position, with a risk-to-reward ratio, scale-out percentages and a trailing stop phase. Many switches relax or tighten the entry rules, including cloud colour, gap candles and stop placement. A backtest date range is included.
- Ichimoku-style entry and exit signals
- Position size from account size and risk
- Risk-to-reward targets and trailing phase
- Many optional entry and stop rules
- Backtest date range
Details
Published by
govindthange on GitHub
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Trend, Support & resistance
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Backtest From Date | time | timestamp("1 Apr 2021 05:30 +0300") | fromDateInput |
| Backtest To Date | time | timestamp("31 Dec 2021 05:30 +0300") | toDateInput |
| Account Size | float | 1000 | accountSize |
| Maximum Risk Per Position | float | 25 | maxRisk |
| Risk/Reward Ratio | float | 1.0 | riskToRewardRatio |
| Nurture Phase Ratio | float | 1.0 | ratioWrtRiskToBeginTrailingSL |
| Scale-Out % | float | 100 | exitPercent |
| Lagging-Span Exit % | float | 0 | chikouExitPercent |
| Take-Profit % | float | 100 | takeProfitPercent |
| ATR Length | int | 9 | atrLength |
| ATR x ? | float | 0.1 | atrStopMultiplier |
| Show entry signal even when short-term MA crosses mid-term MA prematurely | bool | true | allowPrematureTkCrossForTrade |
Show all 40 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Show exit signals when short-term MA crosses mid-term MA | bool | true | tkCrossExitEnabled |
| Show exit signals when short-term MA crosses mid-term MA in nurture phase | bool | true | allowTkCrossExitInNurturePhase |
| Do not require price to be beyond resistance band for entry signals | bool | true | disregardPriceBeyondKumo |
| Disregard leading resistance band bias for entry signals | bool | true | disregardLeadingKumoColor |
| Allow neutral leading resistance band valid for entry signals | bool | false | allowNeutralLeadingKumo |
| Mandate lagging-span be beyond long-term resistance band for entry signals | bool | false | requireChikouBeyondKumo |
| Critical Lagging-Span to SSB % Gap | float | 0.0 | criticalChikouToSsbGap |
| Allow crossover of short-term equilibrium-point (STEP) to cascade exit signals | bool | false | allowTenkanExitToCascade |
| Enforce Rule: After price reverses and crosses-over the STEP to open below/above it then show next STEP exit signal only | bool | false | requireHiLoBreachToInvalidateTenkanExit |
| Show entry signal upon 9-period high/low breakout | bool | true | showSignalsUponBreakout |
| Show entry signals even on gap-up/down candles ( ! ) | bool | false | allowEntryUponGaps |
| Show exit signals on candles that triggerred Entry, Stop-Loss, or Take-Profit limit-orders | bool | true | allowManualExitOnLimitOrderCandles |
| Include current bar to show 9-period highs/lows ( ! ) | bool | false | includeCurrentBarFor9PeriodHighLow |
| Use long-term moving-average (MA) resistance band for stop-loss | bool | true | useKumoAsStop |
| Use short-term period's farthest high/low point for stop-loss ( ! ) | bool | false | useTenkanPeriodFarthestPointAsStop |
| Stop-Loss Breakeven Ratio ( ! ) | float | 0 | breakevenRatio |
| Congestion Candle Span | int | 10 | congestionProximity |
| Congestion Tolerance | float | 0 | congestionTolerance |
| Equilibrium Scheme | string | Scalper | equilibriumScheme |
| Short-Term Period | int | 9 | tenkanSenPeriod |
| Mid-Term Period | int | 26 | kijunSenPeriod |
| Long-Term Period | int | 52 | senkouSpanPeriod |
| Displacement | int | 26 | displacement |
| Show profit & loss summary | bool | true | showPnl |
| Show confluence Summary | bool | false | showConfluenceInfo |
| Show realtime trade plan in a separate table | bool | false | showTradePlan |
| Show trade plan table horizontally | bool | true | horizontalTradePlan |
| Highlight trades with background colors | bool | true | highlightTradesWithBackgroundColor |
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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