This overlay strategy is built for ES futures on the one-minute chart. It plots a volume-weighted moving average of price opens and standard-deviation bands at Fibonacci ratios, plus a second longer volume-weighted average from a higher-timeframe open. Call an
Strategy · Pine Script v6 · On the chart
Tn Value Area Rejection v6
This strategy detects value area rejections on the price chart.
GitHub stars1on the repository
Pine versionv6current
Lines of code100
Settings9inputs
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 Value Area Rejection v6 calculates a fair value midpoint using a simple moving average of length 50 and ATR-based bands. Bullish and bearish rejection signals trigger when price crosses the value area boundaries and closes back out, confirmed by momentum alignment and optional volume surge. Entries use 10 percent of equity position sizing with ATR-scaled stop losses and risk-reward take profits. Settings modify value area length, width multiplier, ATR period, stop multiplier, reward ratio, and causal filters for volume and momentum. It draws entries, stops, and targets directly on the price chart with no separate pane.
- Value Area Rejection
- ATR Bands
- Volume Confirmation
- Momentum Alignment
- Risk Reward
Details
Published by
raybird on GitHub
Type
Strategy, Pine Script v6
Draws
On the price chart
Category
Mean reversion, Volatility & bands, Volume, 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 |
|---|---|---|---|
| Value Area Length | int | 50 | valueLen |
| Value Area Width (ATR) | float | 1.0 | bandMult |
| ATR Length | int | 14 | atrLen |
| Stop ATR Multiplier | float | 1.5 | stopMult |
| Risk:Reward Ratio | float | 2.5 | rr |
| Volume Confirmation | bool | true | useVolFilter |
| Volume Multiplier | float | 1.3 | volMult |
| Momentum Alignment | bool | true | useMomoCheck |
| Rejection Confirmation Bars | int | 2 | rejectBars |
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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