This indicator plots a Supertrend-based trend-following setup in a separate pane and skips conditions it treats as a sideways market. A volatility range is built from an ATR value, with RMA, SMA, EMA, or WMA smoothing, or from a fixed point distance. Optional
Indicator · Pine Script v5 · Own pane
VHF Indicator
This indicator calculates the Vertical Horizontal Filter (VHF) to help identify whether a market is trending or ranging.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code18
Settings1inputs
LicenceNone stated
Last update3 years ago10 Nov 2022
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
VHF Indicator measures the difference between the highest and lowest close over a user-defined period and divides it by the sum of absolute bar-to-bar price changes. The resulting value is plotted as a line in a separate pane along with a static benchmark level at 20. The single input setting adjusts the lookback period length.
- Vertical Horizontal Filter calculation
- Adjustable lookback period
- Static reference threshold line
- Separate pane oscillator display
Details
Published by
JohnsonHsiao on GitHub
Type
Indicator, Pine Script v5
Draws
Separate pane below the chart
Category
Trend, Volatility & bands
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 |
|---|---|---|---|
| p | int | 10 | p |
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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