Calculates standard Bollinger Bands and identifies band expansion breakouts where upper and lower bands move in opposite directions. It enters long positions when price breaks above the upper band with a high candle body percentage, and enters short positions
Strategy · Pine Script v6 · On the chart
TN Compression Expansion V6 [TeleNexus]
TN Compression Expansion V6 identifies volatility contraction and trades subsequent breakouts.
GitHub stars1on the repository
Pine versionv6current
Lines of code115
Settings7inputs
LicenceNone stated
Last update2 months ago15 Aug 2026
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 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
TN Compression Expansion V6 [TeleNexus] compares the Average True Range against its simple moving average to pinpoint compression phases where ATR drops below a specified ratio threshold. When price breaks above or below the recent n-bar range following compression and satisfies a minimum composite score, the strategy triggers long or short entries. Exits are managed using an ATR-based stop loss and a configurable risk-to-reward profit target. The strategy executes and plots directly on the main price chart.
- ATR volatility compression ratio detection
- N-bar range high and low breakout triggers
- Multi-factor sovereign score filter
- ATR-based dynamic stop loss and profit targets
Details
Published by
raybird on GitHub
Type
Strategy, Pine Script v6
Draws
On the price chart
Category
Volatility & bands, Breakout
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 |
|---|---|---|---|
| ATR Length | int | 14 | atrLen |
| ATR SMA Lookback | int | 20 | lookback |
| Compression Threshold (%) | float | 0.7 | compressionPct |
| Range Lookback (bars) | int | 10 | rangeBars |
| ATR Stop Multiplier | float | 1.5 | atrStopMult |
| Risk/Reward Ratio | float | 2.0 | rrTarget |
| Min Sovereign Score | int | 2 | minScore |
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
This strategy plots VWMA-based Bollinger bands on the 1-minute ES futures price chart for volatility analysis and potential breakout identification. It calculates dynamic long and short stop loss and take profit levels using percentage inputs relative to entry
This strategy detects price breakouts above rolling highest highs or below lowest lows over a customizable lookback period. It includes optional volume spike and ATR volatility threshold filters, along with bar confirmation rules. Positions are taken upon conf
This price-chart strategy plots a simple moving average and upper and lower bands built from the standard deviation of close, scaled by separate offset inputs. It enters a fixed quantity long when close crosses above the upper band and a fixed quantity short w
2 Candles Inside ATR is an overlay script that measures volatility compression across two consecutive candles. It calculates a smoothed Average True Range (ATR) and compares it against the combined high and low range of the current and previous bars. When the
This strategy trades long breakouts of a fast and a slow moving average on the price chart. It opens a long position when price crosses above either average, using a percentage of equity as size. It reduces the position by a set share when the high reaches the
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers