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Candlestick analysis

Swing Breakout Strategy PRO“Swing Strategy Pro” A powerful trading tool designed for price action & swing traders. This indicator automatically detects swing highs and lows and generates precise Buy & Sell signals based on breakout confirmations. ✅ How It Works: • Buy signal: When swing high breaks with confirmation candle • Sell signal: When swing low breaks with confirmation candle • Target = Distance between recent swing high & low • Stop Loss = Opposite swing level 📌 Perfect for Breakout Trading, Swing Entries, and Trend Continuation strategies. 🎯 Fully automated with visual alerts & clean chart design.
Pine Script® strategy
by VISHALSWINGTRADE
Ark Pro Heiken Ashi EngineArk Pro Heiken Ashi (Ark Pro HA) by TPFX Overview This is a comprehensive technical analysis tool designed to work exclusively with Heiken Ashi candles. It helps traders identify the current market trend, pinpoints potential breakout-and-retest opportunities, and automatically plots key support and resistance levels. By combining several sophisticated engines into a single, highly customizable indicator, it aims to streamline chart analysis and assist in decision-making. Technical Features The indicator is built on these main ideas: 1. The Heiken Ashi Visual Engine: * The indicator creates a full Heiken Ashi "theme" on your chart, replacing standard candles with a cleaner Heiken Ashi view. This ensures all calculations and visuals are perfectly synchronized.
 * The candles are automatically colored based on the overall market trend (Orange for uptrend, Blue for downtrend). A visual "cloud" is also drawn to clearly highlight the space between the price and its moving average baseline, providing an immediate sense of trend strength and direction.
 2. How it Identifies the Breakout & Retest Pattern: * The engine first identifies a significant recent market structure (a key high for buy setups or a key low for sell setups).
 * It then waits for the price to break decisively past this structure level.
 * After the breakout, it patiently watches for the price to pull back and "retest" the old structure level, which often acts as a new support or resistance zone.
 * A signal is only generated on the first strong Heiken Ashi confirmation candle that appears after the retest is complete, indicating that the trend is likely to resume.
 3. How it Grades Signal Quality with a Dynamic Star Rating: * Every "Long+" or "Short+" signal is given a rating from one to three stars (★☆☆ to ★★★).
 * This rating is not random; it is dynamically calculated by checking for trend agreement on higher timeframes using the "Ark Pro" dashboard.
 * The Rule: The more higher timeframes (1H, 2H, 4H, and Daily) that are in alignment with the signal's direction, the higher the star rating. A three-star signal indicates strong, multi-timeframe confluence behind the trade setup.
 4. How it Plots Support & Resistance Levels: * The indicator includes a parallel engine that identifies significant swing points (pivot highs and lows) using the chart's true price action.
 * It then draws these levels on the chart as clean "steps." Resistance levels appear in blue, and support levels appear in orange, matching the overall trend theme.
 * These lines provide a clear visual of the key price levels the market has recently respected, offering additional context for the breakout signals.
 5. Built-in Filters for Cleaner Signals: * ADX Trend Filter: The indicator includes an ADX filter to measure trend strength. This helps avoid generating signals during choppy, sideways, or unpredictable market conditions, focusing only on periods of clear momentum.
 * Session Filter: You can define specific trading hours (e.g., the New York session). The indicator will then only display signals that appear within this window, helping you focus on the most active market periods.
 6. The "Ark Pro" Multi-Timeframe Dashboard: * The indicator includes an on-screen dashboard that provides an at-a-glance view of the trend across multiple timeframes (1H, 2H, 4H, and Daily).
 * It determines the trend for each timeframe by checking if the Heiken Ashi price is above or below its core moving average, showing either Bullish or Bearish. This allows you to quickly assess the broader market sentiment without ever leaving your chart.
 How to Use This Indicator 1. Use the Feature Control Panel to Customize Your View: * At the top of the settings, a simple control panel with checkboxes allows you to easily turn major visual components on or off. You can toggle the Core Signals, Trend Bar Coloring, Support/Resistance lines, the Risk Management Box, the Dashboard, and more to create your perfect chart layout.
 2. Understand the Trend with Bar Coloring and the Cloud: * Look at the main visual cues: Orange candles and an orange cloud suggest an uptrend, while Blue candles and a blue cloud suggest a downtrend.
 3. Watch for "Long+" or "Short+" Signals: * These labels identify a completed breakout-and-retest pattern. Pay close attention to the star rating next to them to gauge the level of multi-timeframe agreement.
 4. Observe the Plotted Support and Resistance Levels: * Use the orange (support) and blue (resistance) step-lines as a guide to key market structure. A breakout signal gains significance when it occurs near one of these established levels. 
 5. Use the Supporting Tools for Context: * If enabled, the on-chart Risk Management Box provides an ATR-based visual reference for potential Stop Loss and Take Profit levels.
 * Check the "Ark Pro" Dashboard to see if the broader market trend supports your trade idea.
 Intended Use & Limitations * Recommended Assets: Designed for use on various assets, including Forex, Indices, Crypto, and Commodities. Performance will differ between markets.
 * Timeframes: Can be used on all timeframes. The default settings are primarily tuned for intraday charts (e.g., 5m, 15m, 1H).
 Limitations: * This is a tool to support analysis. It does not generate automatic buy or sell advice.
 * The indicator is not a strategy and does not guarantee results. Users are responsible for their own trading decisions.
 * Past performance of signals does not predict future results.
 * Always use this tool in combination with your own comprehensive analysis and risk management plan.
 Ark Pro HA was built on the belief that there is no magic indicator that can print money. Indicator toolkits provide value through their convenience, adaptability, and uniqueness. Combining these elements can help a trader make more educated, less messy, and more planned trades, and in turn, hopefully help them succeed.
Pine Script® indicator
by teamprofitsforex
HTFSweep – Structure & ResolveThis indicator isolates higher timeframe Open, High, Low, and Close levels and projects them onto lower timeframes. It is designed as a structural lens, not a trading signal — a tool for experienced operators who study how intraday price interacts with higher‑timeframe liquidity anchors. Key Features: Selectable higher timeframe (default: Daily). Plots Open, High, Low, Close lines across intraday charts. Bullish/Bearish candle bodies shaded for context. Background fill between High and Low for zone visualization. Purpose: This script is not a “buy/sell” tool. It is a scope, intentionally minimal, highlighting a repeating place of structural and liquidity significance. Use it to track sweeps of higher‑timeframe levels and confirm structural shifts intraday. ⚠️ Disclaimer: This script provides market structure visualization only. It does not generate trading signals or financial advice. COMEX_MINI:MGC1!
Pine Script® indicator
by michaelpharrold
Highest High & Lowest Low Extreme Range @MaxMaserati Highest High & Lowest Low @MaxMaserati ════════════════════════════════════════════ Every day, retail traders stare at charts wondering where the real support and resistance levels are, while institutions effortlessly identify the exact range boundaries that control price action. The mystery of institutional range identification has finally been solved with a revolutionary approach that transforms chaotic price movements into crystal-clear trading opportunities. ⚡ CORE INNOVATION Range Boundary Detection System This groundbreaking indicator automatically identifies the highest high and lowest low over your specified lookback period, creating an institutional-grade range box that reveals exactly where smart money expects price to respect key levels. No more guessing where the real boundaries are. Smart Market Intelligence The system automatically detects your market type and displays range measurements in the proper units - pips for forex, points for futures and indices, dollars for stocks. This precision eliminates confusion and provides instant context for your trading decisions. Institutional Midline Precision The 50% retracement level is automatically calculated and displayed as a dotted midline within the range box, revealing the exact equilibrium point where institutional algorithms expect price to find balance. This is where the smart money often makes their move. Visual Clarity System Clean pink range boxes with black labels eliminate chart clutter while highlighting only the most critical levels. The minimalist design ensures you focus on what matters most - the institutional range boundaries that drive price action. Tips **Look when the market break a swing, wait for pullback at the 50 level or at the order block where the movement started for entry. **When the market is trending, it tends to stick to the line creating constant lower low or high highs ⚡ PRECISION TRADING SYSTEM Phase 1: Range Identification The indicator scans your chosen lookback period and identifies the absolute highest and lowest points, creating an institutional range box that represents the current market structure. This becomes your primary reference framework for all trading decisions. Phase 2: Midline Analysis Monitor price action around the 50% midline level. Institutions often use this equilibrium point for entries, exits, and position sizing decisions. When price approaches this level, heightened attention is required. Phase 3: Boundary Respect Confirmation Watch how price reacts at the range boundaries. Strong rejections indicate institutional support or resistance, while clean breaks suggest range expansion and potential trend continuation opportunities. Phase 4: Range-Based Position Management Use the range measurements to calculate proper position sizes and risk-reward ratios. The automatic unit conversion ensures precise risk management regardless of your trading instrument. ⚡ UNIVERSAL INTEGRATION This indicator enhances every trading methodology without replacing your existing strategy. ICT traders use it to identify premium and discount ranges. SMC analysts leverage it for market structure confirmation. Supply and demand traders utilize it for zone validation. Fibonacci enthusiasts find the 50% midline invaluable for retracement analysis. The beauty lies in its simplicity - it works flawlessly across all timeframes, from scalping on the 1-minute chart to position trading on the weekly. Every market respects these institutional range boundaries because they represent genuine supply and demand imbalances. ⚡ INSTITUTIONAL RANGE MASTERY Market statistics reveal that 78% of significant price moves originate from range boundary interactions. While retail traders chase breakouts without context, institutions patiently wait for price to reach these predetermined levels before deploying their capital. Training Your Market Vision This indicator rewires your brain to see markets the way institutions do - as ranges with clear boundaries and equilibrium points rather than chaotic price movements. After consistent use, you'll naturally identify these levels even without the indicator, giving you a permanent edge in market analysis. The institutional advantage becomes clear when you realize that these range boundaries often align with key psychological levels, previous day highs and lows, and algorithmic trading zones. This convergence creates powerful reversal and continuation signals that smart money exploits repeatedly. Do not use it as a standalone indicator, backtest it and learn about swings before using it. Compatible with: Forex | Stocks | Crypto | Futures | Indices No Repainting | Real-Time Alerts | Multi-Timeframe Analysis
Pine Script® indicator
by MaxMaserati
Period Highlighter ProPeriod Highlighter Pro is a versatile Pine Script indicator designed to visually highlight specific time periods on your TradingView charts, making it easier to analyze seasonal patterns, trading sessions, or specific weekdays. With customizable settings for months, weekdays, or intraday time ranges, this tool adapts to your trading strategy, allowing you to focus on key periods with precision. Features Flexible Highlight Modes: Choose from three modes to highlight: Month Range: Highlight specific months or a range (e.g., March to June) for seasonal analysis. Weekday Range: Highlight specific weekdays (e.g., Mondays or Monday to Wednesday) for weekly pattern analysis. Time Range: Highlight daily time windows (e.g., 15:30–22:00) for intraday session analysis, restricted to weekdays. Customizable Timezone: Set any IANA timezone (e.g., America/New_York, Europe/London) or UTC offset to align highlights with your preferred market hours. Historical Range Control: Define how far back to apply highlights with options for years (Month Range), weeks (Weekday Range), or days (Time Range). Visual Customization: Choose your highlight color to match your chart style. User-Friendly Inputs: Intuitive dropdowns and tooltips guide you through configuring each mode, ensuring only relevant settings are adjusted. How It Works Select a highlight mode and configure the corresponding settings: Month Range: Pick a start month and an optional end month (or "Disabled" for a single month) and set the number of years back. Weekday Range: Choose a start weekday and an optional end weekday (or "Disabled" for a single day) and set the number of weeks back. Time Range: Specify a start and end time (24-hour format) and the number of weekdays back. The indicator then applies a semi-transparent background color to chart bars that meet your criteria, making it easy to spot relevant periods. Use Cases Seasonal Traders: Highlight specific months to analyze recurring market patterns. Day Traders: Focus on active trading sessions (e.g., New York open) with precise time range highlighting. Weekly Pattern Analysts: Isolate specific weekdays to study price behavior. Global Traders: Adjust for any timezone to align with your market of interest. Why Use Period Highlighter Pro? This indicator simplifies time-based analysis by providing a clear visual overlay for your chosen periods. Whether you're studying historical trends or focusing on specific trading hours, Period Highlighter Pro offers the flexibility and precision to enhance your chart analysis. Licensed under the Mozilla Public License 2.0.
Pine Script® indicator
by mjarestad
X EMA EQThe X EMA EQ is a versatile technical analysis tool designed to overlay price action with customizable Exponential Moving Averages (EMAs) and real-time equilibrium levels. Ideal for intraday traders, it blends trend-following and mean-reversion concepts to highlight both directional bias and potential value zones. 🔹 Key Features: 1. Dual EMA Visualization Plot up to two user-defined EMAs (default: 20 and 50 periods). Independently toggle and style each EMA to suit your strategy. Helps track short- and mid-term trend dynamics with clarity. 2. Running Equilibrium Bands Displays a real-time dynamic price range based on the highest high and lowest low over a user-defined rolling window (default: 15 minutes). Includes upper/lower quartile lines and a central midpoint, giving structure to intraday price movement. Useful for identifying compression, breakouts, and fair value zones. 3. Linear Regression Overlay (Optional) Apply a smoothed linear regression curve across the same time window. Highlights directional momentum and price mean trajectory. Valuable for assessing slope bias and trend strength over the equilibrium period. 4. Intraday Timeframe Optimization Designed specifically for intraday charts with minute-based resolutions (30 seconds to 60 minutes). Auto-adjusts logic based on the current chart’s timeframe. 5. Clean Visual Design Minimalist and translucent color schemes ensure readability without clutter. All components are independently toggleable for full customization. ⚙️ Settings Overview: EMA Settings: Enable/disable each EMA, set lengths and colors. Time & Price Settings: Define the running equilibrium period (in minutes), control visibility of bands and regression line, and adjust styling. X EMA EQ offers a compact yet powerful visual framework for traders seeking to align with short-term trend structure while keeping an eye on evolving price balance zones.
Pine Script® indicator
by KinetiCapital
OPTION TRADING SYSTEM + OI Summary ProOption Trading System – Complete Analysis Guide The aiTrendview Option Trading System is an advanced trading dashboard designed to assist traders in making high-probability, risk-managed decisions. Built using Pine Script, this indicator combines SuperTrend-based signals, volume analysis, options flow data, momentum indicators, and dynamic risk management strategies into a unified chart overlay. Its structure supports both discretionary and systematic traders across intraday and swing trading styles. 1. Input Parameters and Configuration SuperTrend Settings The script allows users to configure the ATR period and ATR multiplier for Supertrend signal generation. A lower ATR period increases signal sensitivity, while a higher multiplier reduces noise and generates more conservative entries. Risk Management Parameters Users can pre-define their trade structure using input fields for stop-loss percentage and three target levels (10%, 20%, 30%). The system automatically calculates the risk-to-reward (R:R) ratio, aiming for a minimum R:R of 1:1.5 or greater. Display Customization Traders can customize the dashboard's position (top/bottom + left/center/right), size (small, normal, large), and toggle visibility. This enables non-intrusive viewing based on screen size and trading layout. Options Flow Simulation The tool simulates options market data, including hour-over-hour Open Interest (OI) changes, ATM strike detection, and positioning strength to reflect institutional sentiment. 2. Trading Signals and Momentum Confirmation Signal Logic Buy and sell signals are generated when price crosses above or below the Supertrend line, validated by volume confirmation. A neutral or “Wait” signal appears when conflicting data is detected. Entry price, stop loss, and three profit targets are provided with every setup. Momentum Filter RSI values are used to gauge momentum: • RSI < 30: Accumulation zone (potential buy support) • RSI > 70: Distribution zone (potential selling pressure) • RSI 30–70: Neutral (range-bound) 3. Volume Analysis Volume confirmation is essential to validate signal strength. The script measures real-time volume against a 20-period moving average and displays it as a ratio. A value above 1.5x suggests strong participation; above 2.0x typically indicates institutional involvement. Color coding helps interpret current volume intensity, and live profit/loss tracking enables real-time trade management based on entry price and current market price. 4. Options and Market Data Interpretation The system calculates: • ATM Strike: The at-the-money option strike rounded to the nearest 50. • Put/Call Volume: Directional activity through volume-based analysis. • Put-Call Ratio (PCR): Market sentiment gauge (bullish below 0.8, bearish above 1.2). • OI Trend Analysis: Detects long buildup, short covering, unwinding, and institutional accumulation by comparing price and OI changes. These insights help assess the alignment of retail and institutional sentiment and can act as a contrarian signal at extreme values. 5. Market Context Daily trend bias is determined by comparing the current price to the previous day’s range. If price exceeds the previous high, the bias is bullish; below the low, bearish; and within the range, neutral. This is used as an additional filter for validating breakout/breakdown opportunities. 6. Risk-Optimized Trade Execution The tool recommends executing trades only when at least 4 of the 6 confirmation conditions are met: 1. Supertrend Signal 2. Volume Confirmation (ratio > 1.5) 3. Momentum (RSI in favorable zone) 4. Options Flow (PCR aligned) 5. OI Trend aligned with trade direction 6. Minimum 1:2 Risk-Reward Ratio Based on the strength of confirmation: • 6+ confirmations: 2% capital risk per trade • 4–5 confirmations: 1% capital risk • Fewer than 4: avoid or use very limited sizing 7. Exit Management The system follows a three-target approach: • Target 1 (10%): Partial exit to cover costs and lock in small gains. • Target 2 (20%): Additional scaling out. • Target 3 (30%): Let remainder trail using dynamic stop. A 20% hard stop loss is enforced to limit drawdowns. 8. Alert System Integration Alerts are built into the script and can be configured for: • Buy/Sell signals • Volume spikes above 2.0x • Profit milestones (5%, 10%) • Stop-loss proximity These alerts are compatible with TradingView push notifications, email alerts, and can be routed through third-party services like Telegram for extended utility. 9. Interpretation and Strategy Guidelines The dashboard is built for real-time decision-making. Sample interpretation: • Buy Signal + Volume > 2.0x + PCR < 0.8 + OI Buildup = High-conviction long trade • Sell Signal + RSI > 70 + Short Buildup + Price below PDC = Short trade setup Mult timeframe analysis is also recommended: • 15-minute chart: Entry timing • 1-hour volume: Institutional trend confirmation • Daily range: Breakout validation Disclaimer from aiTrendview This script is intended for educational and informational purposes only. It does not constitute financial advice, trading signals, or investment recommendations. aiTrendview and its affiliates are not responsible for any financial losses or decisions resulting from the use of this tool. Trading and investing involve significant risk. Past performance does not guarantee future results. Users should perform their own due diligence or consult a licensed financial advisor before making trading decisions.
Pine Script® indicator
by aiTrendview-Charting-System
1
Volume Profile + VWAP + Long Wick StrategyVolume Profile + VWAP + Long Wick Strategy This indicator combines Volume Profile (VP), VWAP (Volume Weighted Average Price) with deviation bands, and a long wick candle strategy to identify potential support/resistance zones and trading signals. It detects "power wicks" (long shadows with high volume near key levels like POC, VAH/VAL, or VWAP) as reversal setups, generating buy/sell alerts after confirmation wicks appear near these zones. Key Features: Volume Profile: Displays VP histogram over a lookback period, highlighting POC (Point of Control), VAH/VAL (Value Area High/Low) with customizable rows and thresholds. VWAP & Bands: Plots VWAP with 1-3 std dev bands; filters signals based on trend and proximity to bands. Long Wick Detection: Identifies strong ("power") and signal wicks based on wick/body ratios, ATR size, and volume multipliers. Supports Market Maker (MM) volume bonuses for liquidity zones. Trading Signals: Generates BUY/SELL arrows when price retests wick levels with confirmation, limited by max signals per zone and min wait bars. Filtered by MTF (multi-timeframe) alignment (e.g., higher TF EMA trend and candle direction) and VWAP trend. Sessions: Shows POC/VAH/VAL for Asian, London, and NY sessions with optional active-only display. MTF Analysis: Scores bullish/bearish alignment across two higher timeframes for signal filtering. Visuals: Liquidity sweep boxes, resistance/support lines, info table (levels, signals remaining, VWAP status), and MTF status box. Customizable: Adjust wick ratios, volume thresholds, VP rows, MTF periods, and display options. Ideal for intraday/scalping on forex/crypto/stocks. Use on lower TFs with MTF filters for confluence. Not financial advice—backtest thoroughly!
Pine Script® indicator
by EfeErdost
RSI Custom ADX VWAP Swing SignalsRSI Custom ADX VWAP Swing Signals This Pine Script indicator is designed for the NASDAQ 1-minute timeframe (or any timeframe you use) and combines several technical analysis tools: RSI (Relative Strength Index): Measures momentum, indicating overbought and oversold conditions. Custom ADX (Average Directional Index): Quantifies the strength of a trend, regardless of direction. VWAP (Volume-Weighted Average Price): Represents the average price weighted by volume, indicating central price tendency. Swing High/Low Detection: Identifies recent high and low points to detect breakout signals. How it works: RSI Calculation: Uses a length of 14 (or your input) to assess whether market momentum is overbought (>60) or oversold (<30). Custom ADX Calculation: Computes plusDM and minusDM based on recent high/low price changes. Smooths these using Wilder’s method (ta.rma) to obtain directional movement. Derives the ADX value (sig), representing the trend strength. VWAP Calculation: Uses the typical price (hlc3) to compute the VWAP, a key level indicating average trading price weighted by
Pine Script® indicator
by bussinessanmol61
Peak ↔ Trough Leg & Cycle CounterThis indicator plots both leg counts and cycle counts between peaks and troughs, and includes a real-time counter showing the number of bars since the last swing (peak or trough). === Description === "Peak ↔ Trough Leg + Cycle + Real-Time Counter" is a swing-based timing tool designed for discretionary and systematic traders. It detects local peaks and troughs based on user-defined swing length and visually tracks: The number of bars between alternating peaks and troughs ("Leg Count") The number of bars between recurring same-type swings (Peak→Peak and Trough→Trough "Cycle Count") A real-time counter showing bars elapsed since the last confirmed swing (updated live on the most recent bar) Labels are drawn at each swing point: Top arrows (teal) at local peaks Bottom arrows (green) at local troughs Each label contains: Line 1 – Bars since last swing (Leg Count) Line 2 – Bars since last same-type swing (Cycle Count) A yellow label is shown on the most recent bar, counting live from the last swing. === Potential Uses === **Time-based entry filters**: Wait for X bars since last swing before entering a trade. **Cycle analysis**: Visually gauge market rhythm and mean-reversion timing. **Backtesting timing rules**: Use swing-to-swing durations to test ideas like "enter long only if X bars since peak". **Momentum/fade context**: Identify when a market is overextended in time vs. price. **Bar-count-based trailing stops**: Combine time since last swing with price stops for dynamic exits. **Training visual intuition**: Reinforce understanding of market structure through peak/trough rhythm.
Pine Script® indicator
by Leo_DC13
Multi Time Frame Supporting Candles (with EMA/VWAP)Overview This script provides a clean and, most importantly, correctly-scaled Multi-Time-Frame (MTF) analysis panel. It displays the candles of a higher timeframe (e.g., 1-hour candles while you are on a 5-minute chart) in a separate pane below your main chart. Crucially, it solves a common Pine Script scaling issue, allowing you to plot indicators like EMA and VWAP from the higher timeframe alongside the candles without distorting the display. This tool is essential for traders who practice Multi-Time-Frame Analysis, helping you stay aware of the larger trend context while executing trades on a lower timeframe.
Pine Script® indicator
by noobgoo
Momentum Adaptive RSI Description of the Momentum Adaptive RSI Indicator: The provided Pine Script implements a custom RSI-based trading indicator designed to identify momentum and trend direction by calculating the Relative Strength Index (RSI) with flexible smoothing options and adaptive or fixed overbought/oversold thresholds. Similar in spirit to the Gaussian Volatility Adjusted Indicator, this script focuses on smoothing price momentum using various moving average types (e.g., SMA, EMA, ALMA) and incorporates dynamic thresholding to generate clear buy and sell signals, making it suitable for trend-following, momentum trading, or reversal strategies. How It Works RSI Calculation: Computes the RSI based on the closing price with a user-defined period (default: 10). Optionally applies smoothing to the RSI using a selected moving average type (e.g., SMA, EMA, DEMA, TEMA, WMA, VWMA, SMMA, HMA, LSMA, or ALMA) with a configurable length (default: 10) and, for ALMA, a sigma parameter (default: 15). Users can toggle smoothing on/off (default: enabled) to use either the raw RSI or the smoothed version. Threshold Settings: Fixed Thresholds: Default overbought (60) and oversold (50) levels can be set manually. Adaptive Thresholds: Optionally calculates dynamic thresholds using the percentile method (default: 10th/90th percentiles) over a user-defined period (default: 50). This adapts the overbought/oversold levels based on the historical distribution of RSI values, improving responsiveness to market conditions. Users can toggle between fixed and adaptive thresholds (default: fixed). Signal Generation: Buy Signal: Triggered when the RSI (smoothed or raw) crosses above the overbought threshold. Sell Signal: Triggered when the RSI crosses below the oversold threshold. A state-tracking mechanism ensures persistent signal states for consistent visualization. Visual Representation: RSI Plot: Displays the RSI (smoothed or raw) with dynamic coloring: green above the overbought threshold, red below the oversold threshold, and gray otherwise. Threshold Lines: Plots the overbought and oversold levels (fixed or adaptive) and a middle line at 50 for reference. Background and Bar Coloring: Applies user-defined colors (default: green for buy, red for sell) to the chart background and price bars based on the signal state, enhancing visual clarity for trading decisions.
Pine Script® indicator
by SurgeQuant