PROTECTED SOURCE SCRIPT
Wolf
his code is a Range Filter with entry signals.
How it works:
It calculates the average candle range (the difference between the price and its previous value) using EMA.
Based on this range, it builds a filter — a “smoothed line” (central level) along with upper and lower bands.
If the price moves above the filter → uptrend (green zone). If it moves below → downtrend (red zone).
Trade conditions:
longCondition (buy): price is above the filter and the filter has turned upward.
shortCondition (sell): price is below the filter and the filter has turned downward.
On the chart it displays:
the filter (line),
upper/lower bands,
colored candles (if enabled),
BUY/SELL labels and alerts.
In simple terms: it’s an indicator that filters out market noise and shows when the price changes trend direction, giving entry signals.
How it works:
It calculates the average candle range (the difference between the price and its previous value) using EMA.
Based on this range, it builds a filter — a “smoothed line” (central level) along with upper and lower bands.
If the price moves above the filter → uptrend (green zone). If it moves below → downtrend (red zone).
Trade conditions:
longCondition (buy): price is above the filter and the filter has turned upward.
shortCondition (sell): price is below the filter and the filter has turned downward.
On the chart it displays:
the filter (line),
upper/lower bands,
colored candles (if enabled),
BUY/SELL labels and alerts.
In simple terms: it’s an indicator that filters out market noise and shows when the price changes trend direction, giving entry signals.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.