This indicator plots an ATR-based Chandelier Exit trailing stop on the price chart. It tracks a long stop under recent highs and a short stop above recent lows, then switches direction when price crosses the opposite stop. Buy and sell labels mark those flips.
Indicator · Pine Script v5 · On the chart
USTA
USTA combines multiple trend-following mechanisms on the price chart, primarily integrating SuperTrend and AlphaTrend overlay components.
GitHub stars4on the repository
Pine versionv5runs as is
Lines of code125
Settings17inputs
LicenceNone stated
Last update2 years ago5 May 2024
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
USTA calculates ATR-based volatility trailing lines to determine overall market direction, displaying visual buy and sell signal labels alongside color-coded fill regions when trend transitions occur. User settings allow customization of ATR periods, multipliers, volume-data usage for AlphaTrend calculations via RSI or MFI filters, and toggles for background highlights.
- Combines SuperTrend and AlphaTrend trailing calculations
- Visual buy and sell trend change signals with plot labels
- Dynamic colored fills highlighting active uptrends and downtrends
- Option to toggle between MFI and RSI volume calculations
Details
Published by
Kalumur on GitHub
Type
Draws
On the price chart
Category
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.
File
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| ATR Period | int | 10 | Periods |
| Source | source | hl2 | src |
| ATR Multiplier | float | 3.0 | Multiplier |
| Change ATR Calculation Method ? | bool | true | changeATR |
| Show Buy/Sell Signals ? | bool | true | showsignals |
| Highlighter On/Off ? | bool | true | highlighting |
| Multiplier | float | 1 | coeff |
| Common Period | int | 14 | AP |
| src5 | source | close | src5 |
| Show Signals? | bool | true | showsignalsk |
| Change calculation (no volume data)? | bool | false | novolumedata |
| BB MA | int | 20 | length55 |
Show all 17 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| BB Source | source | close | src9 |
| Narrow BB Multitude | float | 2.0 | mult |
| Wide BB Length | int | 20 | length2 |
| Wide BB Length | int | 20 | length1 |
| Wide BB Multitude | float | 3.0 | mult1 |
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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