A price-chart indicator that estimates trend with a smoothed velocity and a projected vector, then draws an ATR-based trailing line coloured by direction.
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
Up and down signals appear on trend changes. Optional dynamic take-profit markers use momentum and a Z-score, with an adjustable extreme level. The overlay can be a vector gradient, an EMA trend ribbon, both, or none. It can also colour candles and show a dashboard. Settings cover lengths, projection, multiplier and styling.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Source
source
hlc3
source
Trend Length
int
34
trendLength
Velocity Smoothing
int
8
velocityLength
Vector Projection
float
3.0
projection
ATR Length
int
14
atrLength
ATR Multiplier
float
1.8
atrMultiplier
Show Dynamic TPs
bool
true
showDynamicTp
TP Marker
string
Cross
tpMarker
Momentum Length
int
14
momentumLength
Z-Score Length
int
50
zScoreLength
TP Extreme Level
float
1.5
tpExtremeLevel
Overlay Style
string
Vector Gradient
overlayMode
Show all 21 settings
Setting
Type
Default
Variable
Gradient Transparency
int
50
gradientTransparency
Ribbon Fast Length
int
21
ribbonFastLength
Ribbon Slow Length
int
50
ribbonSlowLength
Ribbon Transparency
int
80
ribbonTransparency
Show Up / Down Signals
bool
true
showSignals
Color Candles
bool
true
colorCandles
Trail Width
int
3
trailWidth
Show Dashboard
bool
true
showDashboard
Dashboard Position
string
Top Right
dashboardPosition
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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