OPEN-SOURCE SCRIPT
SRD786-Multi-Factor Confluence Intraday
Multi-Factor Confluence Intraday Indicator
Features:
Moving Averages
Fast EMA (default: 9)
Slow EMA (default: 21)
Long SMA (default: 50)
Momentum Indicators
RSI (14-period with overbought/oversold levels)
MACD (12, 26, 9)
Stochastic Oscillator
Volatility
ATR (Average True Range) for stop-loss calculation
Bollinger Bands (20-period, 2 standard deviations)
Volume Analysis
Volume SMA confirmation
On-Balance Volume (OBV)
Multi-Timeframe Analysis
Higher timeframe EMA (default: 60 minutes)
Shows HTF trend direction
Confluence Scoring (0-100)
Combines all factors into a single score
Strong (≥65), Moderate (50-65), Weak (<50)
Trading Signals:
Long: EMA crossover + Volume confirmation + RSI bullish + MACD bullish + Stochastic not overbought + Price above SMA50 + Confluence ≥65
Short: EMA crossunder + Volume confirmation + RSI bearish + MACD bearish + Stochastic not oversold + Price below SMA50 + Confluence ≥65
Risk Management:
Entry Price: Current close at signal
Stop Loss: ATR × 1.5 (default)
Target Price: 1:2 Risk-Reward (ATR × 3.0)
Display: Information table showing all key values
The code is now complete and syntax-error free. You can add it to TradingView and customize the parameters to fit your trading style.
Features:
Moving Averages
Fast EMA (default: 9)
Slow EMA (default: 21)
Long SMA (default: 50)
Momentum Indicators
RSI (14-period with overbought/oversold levels)
MACD (12, 26, 9)
Stochastic Oscillator
Volatility
ATR (Average True Range) for stop-loss calculation
Bollinger Bands (20-period, 2 standard deviations)
Volume Analysis
Volume SMA confirmation
On-Balance Volume (OBV)
Multi-Timeframe Analysis
Higher timeframe EMA (default: 60 minutes)
Shows HTF trend direction
Confluence Scoring (0-100)
Combines all factors into a single score
Strong (≥65), Moderate (50-65), Weak (<50)
Trading Signals:
Long: EMA crossover + Volume confirmation + RSI bullish + MACD bullish + Stochastic not overbought + Price above SMA50 + Confluence ≥65
Short: EMA crossunder + Volume confirmation + RSI bearish + MACD bearish + Stochastic not oversold + Price below SMA50 + Confluence ≥65
Risk Management:
Entry Price: Current close at signal
Stop Loss: ATR × 1.5 (default)
Target Price: 1:2 Risk-Reward (ATR × 3.0)
Display: Information table showing all key values
The code is now complete and syntax-error free. You can add it to TradingView and customize the parameters to fit your trading style.
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.