Zen ABR Range Bands: Free TradingView Indicator (Pine Script)

Add It to Your TradingView Chart

1Copy the scriptPress Copy script above, or the copy button on the code below.
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

91 lines of Pine Script v6 from indicators/Zen-ABR-Range-Bands/zen-abr-range-bands-v1.1.txt, published under MIT. Keep the author's credit and licence lines when you reuse it.

zen-abr-range-bands-v1.1.txt

// © Zen_Tim_Trades

//@version=6
indicator("Zen ABR Range Bands v1.1", overlay=true)

// ============================================================
// INPUTS
// ============================================================

// --- Moving Average ---
showEMA  = input.bool(true, "Show EMA", group="Moving Average")
emaLen   = input.int(20, "EMA Length", minval=1, group="Moving Average")
emaColor = input.color(color.new(#1A1A1A, 50), "EMA Color", group="Moving Average")

// --- ABR Bands (8-bar ABR, multiplied 1x / 2x / 3x / 4x) ---
show1x = input.bool(true,  "Show 1x ABR Band", group="ABR Bands")
col1x  = input.color(color.new(#2B2B2B, 50), "1x ABR Color", group="ABR Bands")

show2x = input.bool(false, "Show 2x ABR Band", group="ABR Bands")
col2x  = input.color(color.new(#404040, 50), "2x ABR Color", group="ABR Bands")

show3x = input.bool(false, "Show 3x ABR Band", group="ABR Bands")
col3x  = input.color(color.new(#595959, 50), "3x ABR Color", group="ABR Bands")

show4x = input.bool(false, "Show 4x ABR Band", group="ABR Bands")
col4x  = input.color(color.new(#737373, 50), "4x ABR Color", group="ABR Bands")

lineWidth = input.int(1, "Band Line Width", minval=1, maxval=4, group="ABR Bands")

// --- Bar Highlight: wick-touch hits on each ABR level, each side toggled independently ---
// Above the EMA = SHORT side = red. Below the EMA = LONG side = blue.
// Levels are cumulative (a 4x hit also satisfies 2x/3x), same as the performance-grid study —
// each checkbox fires independently off its own threshold, not off the others.
hl1xAbove = input.bool(false, "Highlight 1x Above EMA (Red)",  group="Bar Highlight")
hl2xAbove = input.bool(false, "Highlight 2x Above EMA (Red)",  group="Bar Highlight")
hl3xAbove = input.bool(false, "Highlight 3x Above EMA (Red)",  group="Bar Highlight")
hl4xAbove = input.bool(false, "Highlight 4x Above EMA (Red)",  group="Bar Highlight")

hl1xBelow = input.bool(false, "Highlight 1x Below EMA (Blue)", group="Bar Highlight")
hl2xBelow = input.bool(false, "Highlight 2x Below EMA (Blue)", group="Bar Highlight")
hl3xBelow = input.bool(false, "Highlight 3x Below EMA (Blue)", group="Bar Highlight")
hl4xBelow = input.bool(false, "Highlight 4x Below EMA (Blue)", group="Bar Highlight")

highlightColorAbove = input.color(color.red,  "Above EMA Highlight Color", group="Bar Highlight")
highlightColorBelow = input.color(color.blue, "Below EMA Highlight Color", group="Bar Highlight")

// ============================================================
// CALCULATIONS
// ============================================================

emaVal = ta.ema(close, emaLen)

barRange = high - low
abr8 = ta.sma(barRange, 8)   // ABR lookback fixed at 8 — sacrosanct, never change

// Wick-touch hit tests, one per level per side — matches the study's entry rule exactly
hit1xAbove = high >= emaVal + abr8 * 1
hit2xAbove = high >= emaVal + abr8 * 2
hit3xAbove = high >= emaVal + abr8 * 3
hit4xAbove = high >= emaVal + abr8 * 4

hit1xBelow = low <= emaVal - abr8 * 1
hit2xBelow = low <= emaVal - abr8 * 2
hit3xBelow = low <= emaVal - abr8 * 3
hit4xBelow = low <= emaVal - abr8 * 4

aboveHit = (hl1xAbove and hit1xAbove) or (hl2xAbove and hit2xAbove) or (hl3xAbove and hit3xAbove) or (hl4xAbove and hit4xAbove)
belowHit = (hl1xBelow and hit1xBelow) or (hl2xBelow and hit2xBelow) or (hl3xBelow and hit3xBelow) or (hl4xBelow and hit4xBelow)

// On the rare bar that hits both sides (a huge-range day spanning above and below EMA), above wins the tie.
highlightColor = aboveHit ? highlightColorAbove : belowHit ? highlightColorBelow : na

barcolor(highlightColor, title="ABR Level Highlight")

// ============================================================
// PLOTS
// ============================================================

plot(showEMA ? emaVal : na, title="EMA", color=emaColor, linewidth=2)

plot(show1x ? emaVal + abr8 * 1 : na, title="1x ABR Upper", color=col1x, linewidth=lineWidth)
plot(show1x ? emaVal - abr8 * 1 : na, title="1x ABR Lower", color=col1x, linewidth=lineWidth)

plot(show2x ? emaVal + abr8 * 2 : na, title="2x ABR Upper", color=col2x, linewidth=lineWidth)
plot(show2x ? emaVal - abr8 * 2 : na, title="2x ABR Lower", color=col2x, linewidth=lineWidth)

plot(show3x ? emaVal + abr8 * 3 : na, title="3x ABR Upper", color=col3x, linewidth=lineWidth)
plot(show3x ? emaVal - abr8 * 3 : na, title="3x ABR Lower", color=col3x, linewidth=lineWidth)

plot(show4x ? emaVal + abr8 * 4 : na, title="4x ABR Upper", color=col4x, linewidth=lineWidth)
plot(show4x ? emaVal - abr8 * 4 : na, title="4x ABR Lower", color=col4x, linewidth=lineWidth)

Overview

Plots upper and lower channels at 1x, 2x, 3x, and 4x ABR multiples directly on the main price chart. Includes configurable bar highlighting options that trigger when high or low wicks touch or penetrate specific band thresholds relative to the central moving average line.

8-period Average Bar Range channels
1x to 4x ABR multiplier band displays
Customizable EMA baseline period
Independent bar highlighting for upper and lower touches

Details

Published by

Zen-Tim on GitHub

Type

Indicator, Pine Script v6

Draws

On the price chart

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

indicators/Zen-ABR-Range-Bands/zen-abr-range-bands-v1.1.txt

Repository

github.com/Zen-Tim/zen-trading-tech-public. See its other scripts in the library

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

Setting	Type	Default	Variable
Show EMA	`bool`	`true`	`showEMA`
EMA Length	`int`	`20`	`emaLen`
EMA Color	`color`	`color.new(#1A1A1A, 50)`	`emaColor`
Show 1x ABR Band	`bool`	`true`	`show1x`
1x ABR Color	`color`	`color.new(#2B2B2B, 50)`	`col1x`
Show 2x ABR Band	`bool`	`false`	`show2x`
2x ABR Color	`color`	`color.new(#404040, 50)`	`col2x`
Show 3x ABR Band	`bool`	`false`	`show3x`
3x ABR Color	`color`	`color.new(#595959, 50)`	`col3x`
Show 4x ABR Band	`bool`	`false`	`show4x`
4x ABR Color	`color`	`color.new(#737373, 50)`	`col4x`
Band Line Width	`int`	`1`	`lineWidth`

Show all 22 settings

Setting	Type	Default	Variable
Highlight 1x Above EMA (Red)	`bool`	`false`	`hl1xAbove`
Highlight 2x Above EMA (Red)	`bool`	`false`	`hl2xAbove`
Highlight 3x Above EMA (Red)	`bool`	`false`	`hl3xAbove`
Highlight 4x Above EMA (Red)	`bool`	`false`	`hl4xAbove`
Highlight 1x Below EMA (Blue)	`bool`	`false`	`hl1xBelow`
Highlight 2x Below EMA (Blue)	`bool`	`false`	`hl2xBelow`
Highlight 3x Below EMA (Blue)	`bool`	`false`	`hl3xBelow`
Highlight 4x Below EMA (Blue)	`bool`	`false`	`hl4xBelow`
Above EMA Highlight Color	`color`	`color.red`	`highlightColorAbove`
Below EMA Highlight Color	`color`	`color.blue`	`highlightColorBelow`

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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