Get started

Bands and Channels

MACD Support and Resistance [ChartPrime]⯁ OVERVIEW MACD Support and Resistance is a dynamic support/resistance mapping tool powered by MACD crossover logic. Each time the MACD line crosses the signal line, the indicator scans for recent price extremes and locks them in as potential support or resistance zones. These levels are automatically cleaned up if price breaks them, keeping the chart focused on active market structure. The system includes a built-in MACD display with visual markers, along with contextual highs and lows to help define the current environment. ⯁ MACD-BASED SUPPORT/RESISTANCE GENERATION The core logic uses the MACD oscillator crossover as a trigger event to generate structural levels: When MACD crosses above its signal line:   → The script scans the last 5 bars for the lowest low .   → A support level is plotted at that price. When MACD crosses below its signal line:   → The script scans the last 5 bars for the highest high .   → A resistance level is plotted at that price. These dynamic levels reflect where price recently reversed or paused, making them prime zones for reaction, continuation, or invalidation. ⯁ LEVEL MANAGEMENT AND VALIDATION To keep the chart clean and relevant: A maximum of 20 active levels are allowed at once. Older levels are automatically removed if the list exceeds the limit. If price closes below a support level or above a resistance level , the corresponding line is deleted. This ensures that only currently respected levels remain on the chart — a major advantage for active traders. ⯁ MACD VISUALIZATION + SIGNAL MARKERS A full MACD system is rendered on the lower panel for visual confirmation: The MACD line and Signal line are both plotted and color-coded dynamically. A filled area] highlights the spread between them to emphasize momentum strength. A diamond marker is drawn each time MACD crosses its signal line, alerting traders to potential trend shifts. These visuals make it easy to understand the timing of the support/resistance updates. ⯁ LOCAL EXTREME REFERENCE LINES To help contextualize current price position relative to recent market extremes: A Local High line is plotted based on the highest MACD value over the past 100 bars]. A Local Low line is plotted based on the lowest MACD value over the past 100 bars]. These levels are rendered lightly and serve as dynamic range boundaries. They assist traders in identifying overextended or compressed MACD behavior. ⯁ USAGE Use the generated S/R levels as breakout or reversal zones. Watch for MACD diamond markers to confirm the timing of new levels. Combine these reactive zones with other ChartPrime confluence tools for higher-confidence entries. Use the Local High/Low zones as a volatility envelope to guide risk and trend continuation potential. ⯁ CONCLUSION MACD Support and Resistance takes a classic momentum indicator and adds real-time structural awareness. By linking MACD crossover events to recent price extremes, it identifies the zones where market sentiment shifted — and continues to monitor their strength. Whether you're a breakout trader or looking to fade key reaction points, this tool delivers clean, actionable levels based on momentum and structure — not guesswork.
Pine Script® indicator
by ChartPrime
5
Trend Impulse Channels (Zeiierman)█ Overview Trend Impulse Channels (Zeiierman) is a precision-engineered trend-following system that visualizes discrete trend progression using volatility-scaled step logic. It replaces traditional slope-based tracking with clearly defined “trend steps,” capturing directional momentum only when price action decisively confirms a shift through an ATR-based trigger. This tool is ideal for traders who prefer structured, stair-step progression over fluid curves, and value the clarity of momentum-based bands that reveal breakout conviction, pullback retests, and consolidation zones. The channel width adapts automatically to market volatility, while the step logic filters out noise and false flips. ⚪ The Structural Assumption This indicator is built on a core market structure observation: After each strong trend impulse, the market typically enters a “cooling-off” phase as profit-taking occurs and counter-trend participants enter. This often results in a shallow pullback or stall, creating a slight negative slope in an uptrend (or a positive slope in a downtrend). These “cooling-off” phases don’t reverse the trend — they signal temporary pressure before the next leg continues. By tracking trend steps discretely and filtering for this behavior, Trend Impulse Channels helps traders align with the rhythm of impulse → pause → impulse. █ How It Works ⚪ Step-Based Trend Engine At the heart of this tool is a dynamic step engine that progresses only when price crosses a predefined ATR-scaled trigger level: Trigger Threshold (× ATR) – Defines how far price must break beyond the current trend state to register a new trend step. Step Size (Volatility-Guided) – Each trend continuation moves the trend line in discrete units, scaling with ATR and trend persistence. Trend Direction State – Maintains a +1/-1 internal bias to support directional filters and step tracking. ⚪ Volatility-Adaptive Channel Each step is wrapped inside a dynamic envelope scaled to current volatility: Upper and Lower Bands – Derived from ATR and band multipliers to expand/contract as volatility changes. ⚪ Retest Signal System Optional signal markers show when price re-tests the upper or lower band: Upper Retest → Pullback into resistance during a bearish trend. Lower Retest → Pullback into support during a bullish trend. ⚪ Trend Step Signals Circular markers can be shown to mark each time the trend steps forward, making it easy to identify structurally significant moments of continuation within a larger trend. █ How to Use ⚪ Trend Alignment Use the Trend Line and Step Markers to visually confirm the direction of momentum. If multiple trend steps occur in sequence without reversal, this typically signals strong conviction and trend persistence. ⚪ Retest-Based Entries Wait for pullbacks into the channel and monitor for triangle retest signals. When used in confluence with trend direction, these offer high-quality continuation setups. ⚪ Breakouts Look for breakouts beyond the upper or lower band after a longer period of pause. For higher likelihood of success, look for breakouts in the direction of the trend. █ Settings Trigger Threshold (× ATR) - Defines how far price must move to register a new trend step. Controls sensitivity to trend flips. Max Step Size (× ATR) - Caps how far each trend step can extend. Prevents runaway step expansion in high volatility. Band Multiplier (× ATR) - Expands the upper and lower channels. Controls how much breathing room the bands allow. Trend Hold (bars) - Minimum number of bars the trend must remain active before allowing a flip. Helps reduce noise. Filter by Trend - Restrict retest signals to those aligned with the current trend direction. ----------------- Disclaimer The content provided in my scripts, indicators, ideas, algorithms, and systems is for educational and informational purposes only. It does not constitute financial advice, investment recommendations, or a solicitation to buy or sell any financial instruments. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
Pine Script® indicator
by Zeiierman
4
ATR RopeATR Rope is inspired by DonovanWall's "Range Filter". It implements a similar concept of filtering out smaller market movements and adjusting only for larger moves. In addition, this indicator goes one step deeper by producing actionable zones to determine market state. (Trend vs. Consolidation) > Background When reading up on the Range Filter indicator, it reminded me exactly of a Rope stabilization drawing tool in a program I use frequently. Rope stabilization essentially attaches a fixed length "rope" to your cursor and an anchor point (Brush). As you move your cursor, you are pulling the brush behind it. The cursor (of course) will not pull the brush until the rope is fully extended, this behavior filters out jittery movements and is used to produce smoother drawing curves. If compared visually side-by-side, you will notice that this indicator bears striking resemblance to its inspiration. > Goal Other than simply distinguishing price movements between meaningful and noise, this indicator strives to create a rigid structure to frame market movements and lack-there-of, such as when to anticipate trend, and when to suspect consolidation. Since the indicator works based on an ATR range, the resulting ATR Channel does well to get reactions from price at its extremes. Naturally, when consolidating, price will remain within the channel, neither pushing the channel significantly up or down. Likewise, when trending, price will continue to push the channel in a single direction. With the goal of keeping it quick and simple, this indicator does not do any smoothing of data feeds, and is simply based on the deviation of price from the central rope. Adjusting the rope when price extends past the threshold created by +/- ATR from the rope. > Features & Behaviors - ATR Rope ATR Rope is displayed as a 3 color single line. This can be considered the center line, or the directional line, whichever you'd prefer. The main point of the Rope display is to indicate direction, however it also is factually the center of the current working range. - ATR Rope Color When the rope's value moves up, it changes to green (uptrend), when down, red (downtrend). When the source crosses the rope, it turns blue (flat). With these simple rules, we've formed a structure to view market movements. - Consolidation Zones Consolidation Zones generate from "Flat" areas, and extend into subsequent trend areas. Consolidation is simply areas where price has crossed the Rope and remains inside the range. Over these periods, the upper and lower values are accumulated and averaged together to form the "Consolidation Zone" values. These zones are draw live, so values are averaged as the flat areas progress and don't repaint, so all values seen historically are as they would appear live. - ATR Channel ATR Channel displays the upper and lower bounds of the working range. When the source moves beyond this range, the rope is adjusted based on the distance from the source to the channel. This range can be extremely useful to view, but by default it is hidden. > Application This indicator is not created to provide signals, or serve as a "complete" system. (People who didn't read this far will still comment for signals. :) ) This is created to be used alongside manual interpretation and intuition. This indicator is not meant to constrain any users into a box, and I would actually encourage an open mind and idea generation, as the application of this indicator can take various forms. > Examples As you would probably already know, price movement can be fast impulses, and movement can be slow bleeds. In the screenshot below, we are using movements from and to consolidation zones to classify weak trend and strong trend. As you can see, there are also areas of consolidation which get broken out of and confirmed for the larger moves. Author's Note: In each of these examples, I have outlined the start and end of each session. These examples come from 1 Min Future charts, and have specifically been framed with day trading in mind. "Breakout Retest" or "Support/Resistance Flips" or "Structure Retests" are all generally the same thing, with different traders referring to them by different names, all of which can be seen throughout these examples. In the next example, we have a day which started with an early reversal leading into long, slow, trend. Notice how each area throughout the trend essentially moves slightly higher, then consolidates while holding support of the previous zone. This day had a few sharp movements, however there was a large amount of neutrality throughout this day with continuous higher lows. In contrast to the previous example, next up, we have a very choppy day. Throughout which we see a significant amount of retests before fast directional movements. We also see a few examples of places where previous zones remained relevant into the future. While the zones only display into the resulting trend area, they do not become immediately meaningless once they stop drawing. > Abstract In the screenshot below, I have stacked 2 of these indicators, using the high as the source for one and the low as the source for the other. I've hidden lines of the high and low channels to create a 4 lined channel based on the wicks of price. This is not necessary to use the indicator, but should help provide an idea of creative ways the simple indicator could be used to produce more complicated analysis. If you've made it this far, I would hope it's clear to you how this indicator could provide value to your trading. Thank you to DonovonWall for the inspiration. Enjoy!
Pine Script® indicator
by SamRecio
Euclidean Range [InvestorUnknown]The Euclidean Range indicator visualizes price deviation from a moving average using a geometric concept Euclidean distance. It helps traders identify trend strength, volatility shifts, and potential overextensions in price behavior. Euclidean Distance Euclidean distance is a fundamental concept in geometry and machine learning. It measures the "straight-line distance" between two points in space. In time series analysis, it can be used to measure how far one sequence deviates from another over a fixed window. euclidean_distance(src, ref, len) => var float sum_sq_diff = na sum_sq_diff := 0.0 for i = 0 to len - 1 diff = src - ref sum_sq_diff += diff * diff math.sqrt(sum_sq_diff) In this script, we calculate the Euclidean distance between the price (source) and a smoothed average (reference) over a user-defined window. This gives us a single scalar that reflects the overall divergence between price and trend. How It Works Moving Average Calculation: You can choose between SMA, EMA, or HMA as your reference line. This becomes the "baseline" against which the actual price is compared. Distance Band Construction: The Euclidean distance between the price and the reference is calculated over the Window Length. This value is then added to and subtracted from the average to form dynamic upper and lower bands, visually framing the range of deviation. Distance Ratios and Z-Scores: Two distance ratios are computed: dist_r = distance / price (sensitivity to volatility); dist_v = price / distance (sensitivity to compression or low-volatility states) Both ratios are normalized using a Z-score to standardize their behavior and allow for easier interpretation across different assets and timeframes. Z-Score Plots: Z_r (white line) highlights instances of high volatility or strong price deviation; Z_v (red line) highlights low volatility or compressed price ranges. Background Highlighting (Optional): When Z_v is dominant and increasing, the background is colored using a gradient. This signals a possible build-up in low volatility, which may precede a breakout. Use Cases Detect volatile expansions and calm compression zones. Identify mean reversion setups when price returns to the average. Anticipate breakout conditions by observing rising Z_v values. Use dynamic distance bands as adaptive support/resistance zones. Notes The indicator is best used with liquid assets and medium-to-long windows. Background coloring helps visually filter for squeeze setups. Disclaimer This indicator is provided for speculative analysis and educational purposes only. It is not financial advice. Always backtest and evaluate in a simulated environment before live trading.
Pine Script® indicator
by InvestorUnknown
1
AlphaTrend AutoTrade PRO v3.1//@version=5 // --------------------------------------------------------------------------- // AlphaTrend AutoTrade PRO v3.1 (compile‑safe, dynamic lot) // --------------------------------------------------------------------------- // – Fixed Lot OR %Equity sizing via runtime `qty` parameter // – ATR-based SL/TP + optional Trailing // – Optional filters (HTF-RSI, Session, Weekday) // – Webhook JSON + Debug Shapes // --------------------------------------------------------------------------- //──────────────────────── ① Order Size Mode ───────────────────────── accountMode = input.string("Fixed", "Order Size Mode", options= ) fixedLot = input.float(1.0, "Fixed Lot Size", step=0.1) riskPct = input.float(1.0, "% Equity Risk per Trade (if Percent)", step=0.1) // Strategy header must use constant; we pick FIXED 1 lot as default placeholder strategy("AlphaTrend AutoTrade PRO v3.1", overlay=true, default_qty_type=strategy.fixed, default_qty_value=1, initial_capital=10000, currency=currency.USD, calc_on_every_tick=false, max_bars_back=500) // Helper to compute dynamic qty each entry calcQty(bool isLong) => accountMode == "Fixed" ? fixedLot : // Percent equity: qty = (equity * pct) / price (strategy.equity * (riskPct/100.0)) / close //──────────────────────── ② AlphaTrend & Risk Inputs ─────────────── atrMult = input.float(1.0, "ATR Multiplier", step=0.05) atrLen = input.int(14, "ATR Period") slATR = input.float(1.2, "SL × ATR") tpATR = input.float(1.8, "TP × ATR") trailOn = input.bool(true, "Enable Trailing") trailStart= input.float(1.5, "Trail Start × ATR") trailOffset= input.float(1.0, "Trail Offset × ATR") //──────────────────────── ③ Filters ──────────────────────────────── htfEnable = input.bool(false, "Higher‑TF RSI filter") htfTF = input.timeframe("15", "Higher‑TF TF") rsithreshold= input.int(50, "HTF RSI Threshold", minval=10, maxval=90) sessEnable = input.bool(false, "Session filter (Bangkok)") sessionStr = input.session("1300-2300", "Active HHMM‑HHMM") dowEnable = input.bool(false, "Filter by Weekday") tradeDays = input.string("12345", "Trade days (1=Mon)") showDebug = input.bool(true, "Show Debug Shapes") secretToken = input.string("MYSECRET", "Webhook Token") //──────────────────────── ④ AlphaTrend Calc ─────────────────────── atr = ta.sma(ta.tr, atrLen) upT = low - atr*atrMult dnT = high + atr*atrMult var float at = na condUp = ta.rsi(close, atrLen) >= 50 at := condUp ? math.max(nz(at , upT), upT) : math.min(nz(at , dnT), dnT) rawLong = ta.crossover(at, at ) rawShort = ta.crossunder(at, at ) htfPassLong = not htfEnable or request.security(syminfo.tickerid, htfTF, ta.rsi(close, atrLen) > rsithreshold) htfPassShort = not htfEnable or request.security(syminfo.tickerid, htfTF, ta.rsi(close, atrLen) < rsithreshold) sessPass = not sessEnable or not na(time(timeframe.period, sessionStr)) dowPass = not dowEnable or str.contains(tradeDays, str.tostring(dayofweek)) longCond = rawLong and htfPassLong and sessPass and dowPass shortCond = rawShort and htfPassShort and sessPass and dowPass //──────────────────────── ⑤ Risk Params ─────────────────────────── slPts = atr*slATR tpPts = atr*tpATR trailP = trailOn ? atr*trailStart : na trailO = trailOn ? atr*trailOffset : na lotDesc = accountMode=="Fixed" ? str.tostring(fixedLot) : str.tostring(riskPct)+"%" //──────────────────────── ⑥ Execute & Webhook ───────────────────── if longCond lot = calcQty(true) strategy.entry("L", strategy.long, qty=lot) strategy.exit("XL", from_entry="L", stop=close-slPts, limit=close+tpPts, trail_points=trailP, trail_offset=trailO) if barstate.isconfirmed and barstate.isrealtime msg = '{"token":"'+secretToken+'","action":"buy","symbol":"'+syminfo.ticker+'","price":'+str.tostring(close)+',"sl":'+str.tostring(close-slPts)+',"tp":'+str.tostring(close+tpPts)+',"lot":"'+lotDesc+'"}' alert(msg, alert.freq_once_per_bar_close) if shortCond lot = calcQty(false) strategy.entry("S", strategy.short, qty=lot) strategy.exit("XS", from_entry="S", stop=close+slPts, limit=close-tpPts, trail_points=trailP, trail_offset=trailO) if barstate.isconfirmed and barstate.isrealtime msg = '{"token":"'+secretToken+'","action":"sell","symbol":"'+syminfo.ticker+'","price":'+str.tostring(close)+',"sl":'+str.tostring(close+slPts)+',"tp":'+str.tostring(close-tpPts)+',"lot":"'+lotDesc+'"}' alert(msg, alert.freq_once_per_bar_close) //──────────────────────── ⑦ Debug Shapes ────────────────────────── plotshape(rawLong and showDebug, title="RawLong", style=shape.circle, location=location.belowbar, color=color.aqua, size=size.tiny) plotshape(rawShort and showDebug, title="RawShort", style=shape.circle, location=location.abovebar, color=color.purple, size=size.tiny) plotshape(longCond and showDebug, title="LongOK", style=shape.arrowup, location=location.belowbar, color=color.green) plotshape(shortCond and showDebug, title="ShortOK", style=shape.arrowdown, location=location.abovebar, color=color.red) //──────────────────────── ⑧ Plot AlphaTrend ─────────────────────── col = at > at ? color.green : color.red plot(at, "AlphaTrend", color=col, linewidth=3) plot(at , "AlphaTrendLag", color=color.new(col,70), linewidth=2)
Pine Script® strategy
by weebwm
1
Power IndicatorThe Power Indicator is a customizable EMA (Exponential Moving Average) overlay designed to help traders visually assess market trends across short-, medium-, and long-term timeframes. It plots five key EMAs — 10, 20, 50, 100, and 200 — directly on your price chart, providing a quick glance at the overall momentum and structure of the market. Functionality: This indicator includes the following features: Five EMAs Plotted: - EMA 10 → Short-term trend - EMA 20 → Near-term trend - EMA 50 → Medium-term trend - EMA 100 → Intermediate trend - EMA 200 → Long-term trend User-defined Colors: Each EMA has its own color setting, allowing full customization for better visibility and style matching. 🖥️Overlay on Price Chart: EMAs are drawn directly over candles to align with your trading chart. Real-Time Updates: EMAs update dynamically with every new price bar. ⚙️ How to Use & Modify Settings To customize the indicator: - Add the indicator to your chart. - Click the gear icon (⚙️) next to the script name. - Under the Inputs tab, you'll see: - EMA 10 Color – Choose your preferred color - EMA 20 Color – Choose your preferred color - EMA 50 Color – Choose your preferred color - EMA 100 Color – Choose your preferred color - EMA 200 Color – Choose your preferred color You can adjust the colors to match your theme or emphasize specific EMAs.
Pine Script® indicator
by Varad_T
1
Breakout TrendTiltFolio Breakout Trend indicator The Breakout Trend indicator is designed to help traders clearly visualize trend direction by combining two complementary techniques: moving averages and Donchian-style breakout logic. Rather than relying on just one type of signal, this indicator merges short-term and long-term moving averages with breakout levels based on recent highs and lows. The moving averages define the broader trend regime, while the breakout logic pinpoints moments when price confirms directional momentum. This layered approach filters out many false signals while still capturing high-conviction moves. Yes, these are lagging indicators by design — and that’s the point. Instead of predicting every wiggle, the Breakout Trend waits for confirmation, offering higher signal quality and fewer whipsaws. When the price breaks above a recent high and sits above the long-term moving average, the trend is more likely to persist. That’s when this indicator shines. While it performs best on higher timeframes (daily/weekly), it's also adaptable to shorter timeframes for intraday traders who value clean, systematic trend signals. For early signal detection, we recommend pairing this with TiltFolio’s Buying/Selling Proxy, which anticipates pressure buildups—albeit with more noise. It's easy to read and built for real-world trading discipline.
Pine Script® indicator
by TiltFolio
ATR Keltner Channels [iryna]Hello! I’m excited to share my custom ATR Keltner Channel script, built around a 21-period EMA and ATR-based volatility bands. I am using this tool myself for watching price behavior, any pullbacks or breakouts, and to visualize dynamic support and resistance. How it works: • The centerline is a 21-day Exponential Moving Average (EMA), giving you a smooth sense of the trend. • The upper and lower bands are calculated using Average True Range (ATR), so they expand and contract based on volatility. • The upper and lower bands are x1ATR, x2ATR, x3ATR. All my knowledge comes from SpikeTrade community, where I am learning from Kerry Lovvorn and Alexander Elder. Let me know if you have any suggestions to improve or update! Have a fruitful trading session! - Iryna
Pine Script® indicator
by shreyasns
TeeLek-HedgingRibbonIf we are DCA some assets and it happens to be in a downtrend, sitting and waiting is the best way, but it is not easy to do. There are other ways that allow us to buy DCA and keep collecting more. While the market is falling, don't be depressed. The more you buy, the more it drops. Should you continue buying? Plus, if it goes back to an uptrend, you will also get extra profit. Let's go check it out. ถ้าเรา DCA ทรัพย์สินอะไรซักอย่างนึงอยู่ แล้วมันดันเป็นขาลงพอดี จะนั่งรอเฉยๆ เป็นวิธีที่ดีที่สุด แต่ไม่ได้ทำกันได้ง่ายๆ นะ ยังมีวิธีอื่นอีก ที่ให้เราสามารถ ซื้อ DCA เก็บของเพิ่มได้เรื่อยๆ ระหว่างที่ตลาดร่วง ไม่จิตตก ยิ่งซื้อ ยิ่งลง จะซื้อต่อดีไหม? แถมถ้า กลับมาเป็นขาขึ้น ยังมีกำไรแถมให้ด้วยนะ ไปหาดูกัน
Pine Script® indicator
by TeeLek
Relaxed Bullish Engulfing + RSI ≤ 30//@version=5 indicator("Relaxed Bullish Engulfing + RSI ≤ 30", overlay=true) // === User Inputs === rsiPeriod = input.int(14, title="RSI Period") rsiLevel = input.float(30.0, title="RSI Threshold") emaLength = input.int(20, title="EMA Length") rsi = ta.rsi(close, rsiPeriod) ema = ta.ema(close, emaLength) // === Relaxed Bullish Engulfing Logic === // Previous candle bearish prevBearish = close < open // Current candle bullish currBullish = close > open // Body comparison: current body covers at least 80% of previous engulfBody = (close - open) > 0 and (close > open ) and (open < close ) bullishEngulfing = prevBearish and currBullish and engulfBody // === Buy Signal Condition === buySignal = bullishEngulfing and rsi <= rsiLevel // === Plotting === plot(ema, title="EMA", color=color.blue) plotshape(buySignal, title="Buy", location=location.belowbar, color=color.green, style=shape.labelup, text="BUY", size=size.small)
Pine Script® indicator
by usamamushtaq138
EMA/SMA Trend + EMA Channel + RSI-Based BB RibbonsThis indicator is used for scalping on the 30 second timeframe. The main band is made up on a 20 ema and a 20 sma. Crossovers show potential reversals, band color changes for bullish or bearish crossovers, the 200 sma also is a band made of the 200 sma and 200 ema and will also show blue for bullish or red for bearish. there is an optional 20 ema high low channel that broadens the 20 sma field for a little further confirmation. lastly, there are multi level bollinger type bands to show over extenstion and coupled with the RSI to show overbought and oversold.
Pine Script® indicator
by jhunt764
Candle Ribbon [UkutaLabs]The Candle Ribbon is a powerful trading tool that creates a strong ribbon that indicates market strength. This ribbon is created using three moving averages that use the candle values (high, low, open and close) as its input values. The center most MA will also be colored green, red or grey depending on whether or not its direction aligns with current market strength. The outer band lines act as range indicators, plotted above and below the center ribbon, which represent volatility boundaries for price action. █ USAGE The Candle Ribbon is created using a series of three moving averages that uses values from the candle as its inputs. The user has the ability to select whether the moving averages are EMAs or SMAs, as well as the ability to control the period of the moving averages. If the moving average calculated using the Candle Open is below the moving average calculated using the Candle Close, the ribbon will be colored green, indicating a bullish trend. If the moving average calculated using the Candle Open is above the moving average calculated using the Candle Open, the ribbon will be colored red, indicating a bearish trend. This indicator also uses a series of hidden EMAs to determine market strength. If these EMAs do not align with the direction of the Candle Ribbon, the middle MA will instead be colored grey, indicating uncertainty in the market, as well as a possible reversal. █ SETTINGS Configuration • Moving Average Type: Determines whether or not the Candle Moving Averages will be drawn as EMAs or SMAs. • Moving Average Period: Determines the period of the Candle Moving Averages. Moving Average • Moving Average Input: Determines the input values for the hidden EMAs.
Pine Script® indicator
by UkutaLabs