OPEN-SOURCE SCRIPT
Universal Trend Ribbon Pro - @hitz2kk
Universal Trend Ribbon Pro is a trend-following overlay indicator designed to help traders quickly identify market direction, momentum strength, and multi-timeframe alignment in a single chart view.
The indicator combines a dynamic trend ribbon, momentum filters, and a multi-timeframe dashboard to provide additional context when analysing price movements.
It is designed to work across liquid markets such as MES, ES, NQ, MNQ, SPY and other index-based instruments, but it can also be used on stocks and cryptocurrencies.
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How the indicator works
Trend Ribbon
The main visual component of the indicator is a trend ribbon plotted around price.
The ribbon is calculated using a combination of:
• A fast exponential moving average (EMA)
• A slow exponential moving average
• ATR (Average True Range) to adjust the ribbon width based on volatility
When the fast EMA is above the slow EMA, the ribbon turns green, indicating bullish trend conditions.
When the fast EMA is below the slow EMA, the ribbon turns red, indicating bearish trend conditions.
Using ATR allows the ribbon to expand during volatile markets and contract during quieter periods, helping it adapt to changing market conditions.
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BUY and SELL signals
The script can generate BUY and SELL signals when specific conditions align.
A signal is generated when:
• Price moves beyond the dynamic ribbon boundary
• The current trend direction is confirmed by EMA positioning
• Short-term momentum direction supports the move
• RSI confirms directional strength
These signals are designed to highlight potential trend continuation opportunities rather than attempting to predict exact tops or bottoms.
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Multi-Timeframe Trend Dashboard
A dashboard in the top-right corner provides additional market context by displaying trend direction across several timeframes.
The dashboard includes:
• Trend Confidence
• Trend 15M
• Trend 1H
• Trend 4H
• Trend Daily
• Trend Weekly
• RSI
• Volatility (ATR)
Trend direction on each timeframe is determined by comparing the fast EMA and slow EMA on that timeframe.
This allows traders to quickly see whether the current chart timeframe is aligned with higher-timeframe market direction.
________________________________________
Trend Confidence
The Trend Confidence score is a percentage value that summarizes multiple factors including:
• Current EMA trend direction
• Price position relative to the ribbon
• RSI momentum
• Higher timeframe trend alignment
The score helps provide a quick overview of how many trend factors are currently aligned, but it should be used as a context tool rather than a standalone trading signal.
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How traders may use the indicator
Some traders may use the indicator in the following ways:
Trend continuation setups
• Look for BUY signals when the ribbon is green and higher timeframes show bullish conditions.
Trend weakness
• Watch for SELL signals when the ribbon is red and multiple timeframes show bearish alignment.
Market context
• Use the dashboard to determine whether a move is aligned with higher-timeframe trends.
Volatility awareness
• The ATR reading can help traders understand whether market volatility is expanding or contracting.
________________________________________
Notes
This indicator is designed to provide trend and momentum context and should be used alongside other analysis methods such as market structure, key levels, and risk management.
It does not guarantee profitable trades and should not be used as the sole basis for trading decisions.
The indicator combines a dynamic trend ribbon, momentum filters, and a multi-timeframe dashboard to provide additional context when analysing price movements.
It is designed to work across liquid markets such as MES, ES, NQ, MNQ, SPY and other index-based instruments, but it can also be used on stocks and cryptocurrencies.
________________________________________
How the indicator works
Trend Ribbon
The main visual component of the indicator is a trend ribbon plotted around price.
The ribbon is calculated using a combination of:
• A fast exponential moving average (EMA)
• A slow exponential moving average
• ATR (Average True Range) to adjust the ribbon width based on volatility
When the fast EMA is above the slow EMA, the ribbon turns green, indicating bullish trend conditions.
When the fast EMA is below the slow EMA, the ribbon turns red, indicating bearish trend conditions.
Using ATR allows the ribbon to expand during volatile markets and contract during quieter periods, helping it adapt to changing market conditions.
________________________________________
BUY and SELL signals
The script can generate BUY and SELL signals when specific conditions align.
A signal is generated when:
• Price moves beyond the dynamic ribbon boundary
• The current trend direction is confirmed by EMA positioning
• Short-term momentum direction supports the move
• RSI confirms directional strength
These signals are designed to highlight potential trend continuation opportunities rather than attempting to predict exact tops or bottoms.
________________________________________
Multi-Timeframe Trend Dashboard
A dashboard in the top-right corner provides additional market context by displaying trend direction across several timeframes.
The dashboard includes:
• Trend Confidence
• Trend 15M
• Trend 1H
• Trend 4H
• Trend Daily
• Trend Weekly
• RSI
• Volatility (ATR)
Trend direction on each timeframe is determined by comparing the fast EMA and slow EMA on that timeframe.
This allows traders to quickly see whether the current chart timeframe is aligned with higher-timeframe market direction.
________________________________________
Trend Confidence
The Trend Confidence score is a percentage value that summarizes multiple factors including:
• Current EMA trend direction
• Price position relative to the ribbon
• RSI momentum
• Higher timeframe trend alignment
The score helps provide a quick overview of how many trend factors are currently aligned, but it should be used as a context tool rather than a standalone trading signal.
________________________________________
How traders may use the indicator
Some traders may use the indicator in the following ways:
Trend continuation setups
• Look for BUY signals when the ribbon is green and higher timeframes show bullish conditions.
Trend weakness
• Watch for SELL signals when the ribbon is red and multiple timeframes show bearish alignment.
Market context
• Use the dashboard to determine whether a move is aligned with higher-timeframe trends.
Volatility awareness
• The ATR reading can help traders understand whether market volatility is expanding or contracting.
________________________________________
Notes
This indicator is designed to provide trend and momentum context and should be used alongside other analysis methods such as market structure, key levels, and risk management.
It does not guarantee profitable trades and should not be used as the sole basis for trading decisions.
نص برمجي مفتوح المصدر
بروح TradingView الحقيقية، قام مبتكر هذا النص البرمجي بجعله مفتوح المصدر، بحيث يمكن للمتداولين مراجعة وظائفه والتحقق منها. شكرا للمؤلف! بينما يمكنك استخدامه مجانًا، تذكر أن إعادة نشر الكود يخضع لقواعد الموقع الخاصة بنا.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
نص برمجي مفتوح المصدر
بروح TradingView الحقيقية، قام مبتكر هذا النص البرمجي بجعله مفتوح المصدر، بحيث يمكن للمتداولين مراجعة وظائفه والتحقق منها. شكرا للمؤلف! بينما يمكنك استخدامه مجانًا، تذكر أن إعادة نشر الكود يخضع لقواعد الموقع الخاصة بنا.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.