OPEN-SOURCE SCRIPT
Sequential 9(Setup Count)- KoRC
This indicator is a simplified Sequential 9-count (Setup 9) tool inspired by widely known “sequential counting” concepts. It detects potential exhaustion points by counting consecutive closes relative to the close 4 bars earlier:
Buy Setup (DIP): close < close[4] for 9 consecutive bars (optional strict mode: <=)
Sell Setup (TOP): close > close[4] for 9 consecutive bars (optional strict mode: >=)
Enhancements / Filters (optional):
Trend filter (default ON): uses EMA(200) as a macro trend filter and EMA(20) as a fast context filter.
Volatility filter (optional): ignores signals in low-volatility regimes using ATR% threshold.
Dedupe (default ON): prevents repeated signals within a short window (one-shot per swing concept).
Perfected highlight:
Signals are visually emphasized when a simple “perfected” condition is met (bar 8 or 9 extends beyond recent reference highs/lows), displayed with brighter colors.
How to use:
Use DIP/TOP labels as potential exhaustion alerts, not standalone trade signals. Combine with your own risk management and confirmation tools.
Disclaimer:
Not affiliated with or endorsed by any third-party. This script is provided for educational/visualization purposes only and does not constitute financial advice.
Buy Setup (DIP): close < close[4] for 9 consecutive bars (optional strict mode: <=)
Sell Setup (TOP): close > close[4] for 9 consecutive bars (optional strict mode: >=)
Enhancements / Filters (optional):
Trend filter (default ON): uses EMA(200) as a macro trend filter and EMA(20) as a fast context filter.
Volatility filter (optional): ignores signals in low-volatility regimes using ATR% threshold.
Dedupe (default ON): prevents repeated signals within a short window (one-shot per swing concept).
Perfected highlight:
Signals are visually emphasized when a simple “perfected” condition is met (bar 8 or 9 extends beyond recent reference highs/lows), displayed with brighter colors.
How to use:
Use DIP/TOP labels as potential exhaustion alerts, not standalone trade signals. Combine with your own risk management and confirmation tools.
Disclaimer:
Not affiliated with or endorsed by any third-party. This script is provided for educational/visualization purposes only and does not constitute financial advice.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.