This strategy plots Bollinger Bands on the price chart using an EMA or SMA basis and a matching standard-deviation calculation. It enters long when price crosses back above the lower band and short when price crosses back below the upper band. An optional Intr
Strategy · Pine Script v6 · On the chart
Volume Exhaustion Strategy (VES)
A strategy that looks for mean-reversion entries when volume shows exhaustion, using wave comparison, volume rate of change or z-score detection plus several confluence checks, including a higher-timeframe volume ROC.
Repaints
GitHub stars1on the repository
Pine versionv6current
Lines of code1,606
Settings40inputs
LicenceNone stated
Last update5 months ago31 May 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
Volume Exhaustion Strategy (VES) is designed for Renko charts, with Heiken-Ashi supported. Exits use fixed take profit and stop loss in points, a fixed or ATR trail, and an optional breakeven stop. A daily drawdown limit and an average daily range exhaustion filter are included.
- Volume exhaustion mean-reversion entries
- Wave, ROC and z-score detection methods
- Fixed or ATR trailing stop with breakeven
- Daily drawdown limit and ADR filter
- Higher-timeframe volume ROC confluence
Details
Published by
iyoshikawa on GitHub
Type
Strategy, Pine Script v6
Draws
On the price chart
Category
Mean reversion, Volume
Markets
Indices
Timeframes
M15-H1
Risk Notes
- Signals can change on the live bar or after it closes (repainting)
- Reads higher-timeframe data with lookahead on, so the history can show signals that were not there in real time
- The strategy can add several entries in the same direction
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Instrument | string | 🔷 YM (Dow) | preset |
| Take Profit (points) | float | 40.0 | tp_pts_in |
| Stop Loss (points) | float | 40.0 | sl_pts_in |
| Trail Mode | string | Fixed | trail_mode |
| Trail Fixed (points) | float | 40.0 | trail_pts_in |
| ATR Length | int | 14 | atr_trail_len |
| ATR Multiplier | float | 1.5 | atr_trail_mult |
| Enable Breakeven Stop | bool | true | be_enable |
| Bricks to Trigger BE | int | 3 | be_boxes_in |
| BE Offset (ticks profit) | int | 3 | be_ticks_in |
| Trail Activation (bricks) | int | 1 | trail_activation_bricks |
| Daily DD Limit ($) | float | 3000.0 | daily_dd_limit_in |
Show all 40 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Daily Profit Target ($) | float | 0.0 | daily_pt_limit |
| Enable ADR Exhaustion Filter | bool | true | enable_adr_filter |
| ADR Lookback (days) | int | 10 | adr_length |
| Exhaustion Threshold (%) | float | 80.0 | adr_exhaust_pct |
| Tighten Trail When ADR > 70% | bool | true | adr_tighten_trail |
| Tighten Threshold (%) | float | 70.0 | adr_tighten_pct |
| Min Wave Length (bricks) | int | 3 | min_wave_len |
| Detection Method | string | Wave Compare | vol_method |
| Volume Lookback (bars) | int | 20 | vol_lookback |
| Wave Volume Decline % (0=any decline) | float | 0.0 | wave_decline_pct |
| ROC Smoothing (bars) | int | 5 | vol_roc_len |
| Z-Score Threshold | float | 0.3 | z_threshold |
| Wave: Enable Exhaustion Detection | bool | true | wave_use_exhaustion |
| Wave: Enable Climax Detection | bool | true | wave_use_climax |
| Wave: Climax Multiplier | float | 1.2 | wave_climax_mult |
| Wave: Min Wave Volume (0=off) | float | 0.0 | wave_min_volume |
| Higher Timeframe | timeframe | 15 | mtf_roc_tf |
| HTF ROC Lookback (bars) | int | 20 | mtf_roc_lookback |
| EMA Fast (21) | int | 21 | ema_fast_len |
| EMA Mid (34) | int | 34 | ema_mid_len |
| EMA Slow (50) | int | 50 | ema_slow_len |
| BB Length | int | 10 | bb_length_in |
| BB Std Dev Multiplier | float | 1.2 | bb_mult_in |
| BB Calculation Timeframe | timeframe | 3 | bb_tf_in |
| Upper Band | color | #2962FF | bb_color_up |
| Lower Band | color | #2962FF | bb_color_lo |
| Midline | color | color.gray | bb_color_mid |
| Suppress Signals in BB Squeeze | bool | true | bb_squeeze_filter |
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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