OPEN-SOURCE SCRIPT
SHEMAR HMA ST + SMC Confidence Filter
A trend-following indicator built for precision entries and exits on any market, combining multiple layers of confirmation to filter out noise and keep you on the right side of the trend.
How it works:
At its core, the indicator uses a Hull Moving Average (HMA) combined with a Supertrend to identify the primary trend direction. The HMA reacts quickly to price changes while remaining smooth, and the Supertrend defines clear directional bias. A signal only generates when both agree.
From there, signals pass through several additional filters before they're considered valid:
SMC Confidence Score — a dynamic scoring system based on Smart Money Concepts, including Break of Structure, kernel distance, pullback detection, and momentum expansion. Only signals meeting a minimum confidence threshold are accepted.
Squeeze Momentum Filter — ensures the market has sufficient momentum behind the move before entry, avoiding flat or compressed market conditions.
HTF Trend Filter — checks the higher timeframe trend direction to ensure you're only trading with the macro bias, not against it.
Time Filter — blocks signals during historically unfavourable trading sessions.
The indicator is designed to work on Heikin Ashi candles, which smooth price action and reduce false signals, giving cleaner entries with better trend continuation.
Signals are fully compatible with automation via webhook alerts.
Backtesting — the indicator includes a built-in backtest stream compatible with the Backtest Adapter by jdehorty, allowing you to evaluate historical performance directly on the chart without needing to convert to a strategy script. Full trade history including entries, exits, and PnL is accessible for any timeframe and date range. Simply add the Backtest Adapter to the same chart and set the source input to this indicator's Backtest Stream.
How it works:
At its core, the indicator uses a Hull Moving Average (HMA) combined with a Supertrend to identify the primary trend direction. The HMA reacts quickly to price changes while remaining smooth, and the Supertrend defines clear directional bias. A signal only generates when both agree.
From there, signals pass through several additional filters before they're considered valid:
SMC Confidence Score — a dynamic scoring system based on Smart Money Concepts, including Break of Structure, kernel distance, pullback detection, and momentum expansion. Only signals meeting a minimum confidence threshold are accepted.
Squeeze Momentum Filter — ensures the market has sufficient momentum behind the move before entry, avoiding flat or compressed market conditions.
HTF Trend Filter — checks the higher timeframe trend direction to ensure you're only trading with the macro bias, not against it.
Time Filter — blocks signals during historically unfavourable trading sessions.
The indicator is designed to work on Heikin Ashi candles, which smooth price action and reduce false signals, giving cleaner entries with better trend continuation.
Signals are fully compatible with automation via webhook alerts.
Backtesting — the indicator includes a built-in backtest stream compatible with the Backtest Adapter by jdehorty, allowing you to evaluate historical performance directly on the chart without needing to convert to a strategy script. Full trade history including entries, exits, and PnL is accessible for any timeframe and date range. Simply add the Backtest Adapter to the same chart and set the source input to this indicator's Backtest Stream.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.