Zero Lag Trend Signals (MTF) [Al…: 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

111 lines of Pine Script v5 from collections/ZeroLagTrendSignals.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.

ZeroLagTrendSignals.pine

// This Pine Script™ code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © AlgoAlpha

//@version=5
indicator("Zero Lag Trend Signals (MTF) [AlgoAlpha]", shorttitle="AlgoAlpha - 0️⃣Zero Lag Signals", overlay=true)

length = input.int(70, "Length", tooltip = "The Look-Back window for the Zero-Lag EMA calculations", group = "Main Calculations")
mult = input.float(1.2, "Band Multiplier", tooltip = "This value controls the thickness of the bands, a larger value makes the indicato less noisy", group = "Main Calculations")
t1 = input.timeframe("5", "Time frame 1", group = "Extra Timeframes")
t2 = input.timeframe("15", "Time frame 2", group = "Extra Timeframes")
t3 = input.timeframe("60", "Time frame 3", group = "Extra Timeframes")
t4 = input.timeframe("240", "Time frame 4", group = "Extra Timeframes")
t5 = input.timeframe("1D", "Time frame 5", group = "Extra Timeframes")
green = input.color(#00ffbb, "Bullish Color", group = "Appearance")
red = input.color(#ff1100, "Bearish Color", group = "Appearance")

src = close

lag = math.floor((length - 1) / 2)

zlema = ta.ema(src + (src - src[lag]), length)

volatility = ta.highest(ta.atr(length), length*3) * mult

var trend = 0

if ta.crossover(close, zlema+volatility)
    trend := 1

if ta.crossunder(close, zlema-volatility)
    trend := -1

zlemaColor = trend == 1 ? color.new(green, 70) : color.new(red, 70)
m = plot(zlema, title="Zero Lag Basis", linewidth=2, color=zlemaColor)
upper = plot(trend == -1 ? zlema+volatility : na, style = plot.style_linebr, color = color.new(red, 90), title = "Upper Deviation Band")
lower = plot(trend == 1 ? zlema-volatility : na, style = plot.style_linebr, color = color.new(green, 90), title = "Lower Deviation Band")

fill(m, upper, (open + close) / 2, zlema+volatility, color.new(red, 90), color.new(red, 70))
fill(m, lower, (open + close) / 2, zlema-volatility, color.new(green, 90), color.new(green, 70))

plotshape(ta.crossunder(trend, 0) ? zlema+volatility : na, "Bearish Trend", shape.labeldown, location.absolute, red, text = "▼", textcolor = chart.fg_color, size = size.small)
plotshape(ta.crossover(trend, 0) ? zlema-volatility : na, "Bullish Trend", shape.labelup, location.absolute, green, text = "▲", textcolor = chart.fg_color, size = size.small)

plotchar(ta.crossover(close, zlema) and trend == 1 and trend[1] == 1 ? zlema-volatility*1.5 : na, "Bullish Entry", "▲", location.absolute, green, size = size.tiny)
plotchar(ta.crossunder(close, zlema) and trend == -1 and trend[1] == -1 ? zlema+volatility*1.5 : na, "Bearish Entry", "▼", location.absolute, red, size = size.tiny)

s1 = request.security(syminfo.tickerid, t1, trend)
s2 = request.security(syminfo.tickerid, t2, trend)
s3 = request.security(syminfo.tickerid, t3, trend)
s4 = request.security(syminfo.tickerid, t4, trend)
s5 = request.security(syminfo.tickerid, t5, trend)

s1a = s1 == 1 ? "Bullish" : "Bearish"
s2a = s2 == 1 ? "Bullish" : "Bearish"
s3a = s3 == 1 ? "Bullish" : "Bearish"
s4a = s4 == 1 ? "Bullish" : "Bearish"
s5a = s5 == 1 ? "Bullish" : "Bearish"

if barstate.islast
    var data_table = table.new(position=position.top_right, columns=2, rows=6, bgcolor=chart.bg_color, border_width=1, border_color=chart.fg_color, frame_color=chart.fg_color, frame_width=1)
    table.cell(data_table, text_halign=text.align_center, column=0, row=0, text="Time Frame", text_color=chart.fg_color)
    table.cell(data_table, text_halign=text.align_center, column=1, row=0, text="Signal", text_color=chart.fg_color)

    table.cell(data_table, text_halign=text.align_center, column=0, row=1, text=t1, text_color=chart.fg_color)
    table.cell(data_table, text_halign=text.align_center, column=1, row=1, text=s1a, text_color=chart.fg_color, bgcolor=s1a == "Bullish" ? color.new(green, 70) : color.new(red, 70))

    table.cell(data_table, text_halign=text.align_center, column=0, row=2, text=t2, text_color=chart.fg_color)
    table.cell(data_table, text_halign=text.align_center, column=1, row=2, text=s2a, text_color=chart.fg_color, bgcolor=s2a == "Bullish" ? color.new(green, 70) : color.new(red, 70))

    table.cell(data_table, text_halign=text.align_center, column=0, row=3, text=t3, text_color=chart.fg_color)
    table.cell(data_table, text_halign=text.align_center, column=1, row=3, text=s3a, text_color=chart.fg_color, bgcolor=s3a == "Bullish" ? color.new(green, 70) : color.new(red, 70))

    table.cell(data_table, text_halign=text.align_center, column=0, row=4, text=t4, text_color=chart.fg_color)
    table.cell(data_table, text_halign=text.align_center, column=1, row=4, text=s4a, text_color=chart.fg_color, bgcolor=s4a == "Bullish" ? color.new(green, 70) : color.new(red, 70))

    table.cell(data_table, text_halign=text.align_center, column=0, row=5, text=t5, text_color=chart.fg_color)
    table.cell(data_table, text_halign=text.align_center, column=1, row=5, text=s5a, text_color=chart.fg_color, bgcolor=s5a == "Bullish" ? color.new(green, 70) : color.new(red, 70))

/////////////////////////////////////////ALERTS FOR SMALL ARROWS (ENTRY SIGNALS)
alertcondition(ta.crossover(close, zlema) and trend == 1 and trend[1] == 1, "Bullish Entry Signal", 
     message="Bullish Entry Signal detected. Consider entering a long position.")
alertcondition(ta.crossunder(close, zlema) and trend == -1 and trend[1] == -1, "Bearish Entry Signal", 
     message="Bearish Entry Signal detected. Consider entering a short position.")

/////////////////////////////////////////ALERTS FOR TREND CONDITIONS
alertcondition(ta.crossover(trend, 0), "Bullish Trend")
alertcondition(ta.crossunder(trend, 0), "Bearish Trend")
alertcondition(ta.cross(trend, 0), "(Bullish or Bearish) Trend")

alertcondition(ta.crossover(s1, 0), "Bullish Trend Time Frame 1")
alertcondition(ta.crossunder(s1, 0), "Bearish Trend Time Frame 1")
alertcondition(ta.cross(s1, 0), "(Bullish or Bearish) Trend Time Frame 1")

alertcondition(ta.crossover(s2, 0), "Bullish Trend Time Frame 2")
alertcondition(ta.crossunder(s2, 0), "Bearish Trend Time Frame 2")
alertcondition(ta.cross(s2, 0), "(Bullish or Bearish) Trend Time Frame 2")

alertcondition(ta.crossover(s3, 0), "Bullish Trend Time Frame 3")
alertcondition(ta.crossunder(s3, 0), "Bearish Trend Time Frame 3")
alertcondition(ta.cross(s3, 0), "(Bullish or Bearish) Trend Time Frame 3")

alertcondition(ta.crossover(s4, 0), "Bullish Trend Time Frame 4")
alertcondition(ta.crossunder(s4, 0), "Bearish Trend Time Frame 4")
alertcondition(ta.cross(s4, 0), "(Bullish or Bearish) Trend Time Frame 4")

alertcondition(ta.crossover(s5, 0), "Bullish Trend Time Frame 5")
alertcondition(ta.crossunder(s5, 0), "Bearish Trend Time Frame 5")
alertcondition(ta.cross(s5, 0), "(Bullish or Bearish) Trend Time Frame 5")

alertcondition(ta.crossover(close, zlema) and trend == 1 and trend[1] == 1, "Bullish Entry")
alertcondition(ta.crossunder(close, zlema) and trend == -1 and trend[1] == -1, "Bearish Entry")

Overview

Zero Lag Trend Signals (MTF) [AlgoAlpha] plots the ZLEMA basis line, volatility bands, trend reversal labels, and entry signals directly on the price chart. Additionally, it includes a multi-timeframe dashboard table displaying trend direction across five user-defined timeframes. Higher-timeframe table status updates dynamically on unclosed higher-timeframe bars.

Zero Lag Exponential Moving Average baseline
ATR-based dynamic volatility bands
Bullish and bearish trend change and entry labels
Multi-timeframe trend status dashboard table

Details

Published by

TamTH-Dev on GitHub

Code credit

AlgoAlpha, as written in the script's header

Type

Indicator, Pine Script v5

Draws

On the price chart

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

Signals can change on the live bar or after it closes (repainting)

File

collections/ZeroLagTrendSignals.pine

Repository

github.com/TamTH-Dev/trading-view-scripts. 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
Length	`int`	`70`	`length`
Band Multiplier	`float`	`1.2`	`mult`
Time frame 1	`timeframe`	`5`	`t1`
Time frame 2	`timeframe`	`15`	`t2`
Time frame 3	`timeframe`	`60`	`t3`
Time frame 4	`timeframe`	`240`	`t4`
Time frame 5	`timeframe`	`1D`	`t5`
Bullish Color	`color`	`#00ffbb`	`green`
Bearish Color	`color`	`#ff1100`	`red`

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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