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Atualizado Top & Bottom Finder XL
# Top & Bottom Finder XL
## User's Guide
---
# Overview
**Top & Bottom Finder XL** is a market exhaustion indicator.
Its purpose is **not** to predict every swing high and swing low.
Instead, it attempts to identify **high-probability exhaustion points** where price has become statistically extended and has a greater chance of reversing.
Unlike traditional pivot indicators, this indicator combines several independent filters:
* Structural pivots
* Momentum (RSI)
* Trend extension
* Volume
* Range expansion
Only when the selected filters agree does the indicator produce a **Confirmed Top** or **Confirmed Bottom**.
---
# How the Indicator Works
Every signal goes through the following process:
### Step 1 — Find a Pivot
The indicator first looks for a legitimate swing high or swing low using TradingView's pivot algorithm.
A pivot is not confirmed until the required number of right bars has completed.
Example:
Left = 100
Right = 5
means:
* current high must be higher than the previous 100 bars
* and remain the highest point for the next 5 bars
Only then is it officially a pivot.
---
### Step 2 — Apply RSI Filter (Optional)
Purpose:
Avoid taking pivots that occur without momentum extremes.
A top requires
RSI ≥ Top Threshold
A bottom requires
RSI ≤ Bottom Threshold
Default:
Top = 65
Bottom = 35
Disabling this filter means RSI is ignored completely.
---
### Step 3 — Apply Trend Extension Filter (Optional)
Purpose:
Avoid taking pivots that are too close to the trend.
The indicator measures:
Distance from EMA
using ATR.
Formula:
Distance =
Price − EMA
divided by ATR
Example
EMA = 100
ATR = 2
Price = 110
Distance =
10 ÷ 2
= 5 ATR
If Minimum ATR Extension = 5
the signal passes.
Otherwise it is rejected.
This filter is extremely effective at removing mediocre signals.
---
### Step 4 — Confirmation Filter
This determines whether the pivot occurred with unusually strong participation.
There are four modes.
## Off
No confirmation required.
Every pivot that passes the other filters becomes confirmed.
Produces the most signals.
---
## Volume Only
The pivot bar must have
Volume >
Average Volume × Multiplier
Default
50-bar average
Multiplier = 2
---
## Range Only
The pivot candle must have
Range >
Average Range × Multiplier
This looks for unusually large candles.
---
## Volume + Range
The strictest mode.
Requires BOTH:
* high volume
* large candle
Produces the fewest signals.
Usually the highest quality.
---
# Timeframe Settings
## Calculation Timeframe
Allows calculations on another timeframe.
Example
Chart = 15 minute
Calculation = 1 hour
Signals are calculated from hourly data but displayed on the 15-minute chart.
Leave blank to use the current chart timeframe.
---
# Pivot Settings
## Pivot Bars Left
Controls how significant the pivot must be.
Small values
More signals
Less significant
Large values
Fewer signals
More important turning points
Default
100
---
## Pivot Bars Right
Controls confirmation delay.
Larger values
Later signals
Higher confidence
Smaller values
Earlier signals
More false signals
Default
5
---
# Signal Filters
## Use RSI Filter
Enable or disable RSI completely.
---
## RSI Length
Default
14
Controls how RSI is calculated.
---
## Top RSI Threshold
Minimum RSI required for tops.
Default
65
Higher values
Fewer signals
---
## Bottom RSI Threshold
Maximum RSI allowed for bottoms.
Default
35
Lower values
Fewer signals
---
## Use Trend EMA Filter
Turns EMA distance filtering on or off.
---
## Trend EMA Length
Default
200
Long-term trend reference.
---
## ATR Length
Default
14
Used to normalize volatility.
---
## Minimum ATR Extension
Default
5 ATR
Controls how far price must stretch away from the EMA.
Higher values
Only extreme exhaustion
Lower values
More frequent signals
---
## Confirmation Mode
Options:
* Off
* Volume Only
* Range Only
* Volume + Range
Determines final confirmation.
---
## Volume / Range Average Length
Default
50
Average period used for volume and range comparisons.
---
## Volume Multiplier
Default
2
Required increase above average volume.
Example
Average volume = 100,000
Multiplier = 2
Required volume
200,000
---
## Range Expansion Multiplier
Default
0.5
Required increase above average candle range.
Higher values
Require larger candles.
---
# Display Settings
## Show Trend EMA
Displays the EMA used for trend extension.
Useful for visualizing how stretched price became.
---
## Show Watch Signals
Displays every confirmed pivot before filtering.
Watch signals represent:
"Potential reversal areas."
Confirmed signals represent:
"Filtered, higher-probability reversal areas."
---
## Color Settings
Customize:
* Watch Tops
* Watch Bottoms
* Confirmed Tops
* Confirmed Bottoms
* EMA
---
# Label Controls
These options determine what information appears inside Confirmed labels.
---
## Show Price
Displays pivot price.
Example
Price
145.32
---
## Show Pivot Settings
Displays
Left / Right
Example
100 / 5
Useful when comparing settings.
---
## Show RSI
Displays RSI at the pivot.
Example
RSI
72.5
---
## Show Volume
Displays pivot volume.
Useful when Volume confirmation is enabled.
---
## Show ATR
Displays ATR at the pivot.
Important:
This is **not** the distance from the EMA.
It simply displays the market's volatility (ATR) at the time the pivot formed.
Higher ATR means a more volatile market.
Lower ATR means a quieter market.
---
## Show EMA Distance
Displays
Distance from EMA
measured in ATRs.
Example
EMA Dist
5.82 ATR
This is arguably the most useful statistic on the label because it quantifies how extended price was when the reversal occurred.
---
## Show Confirmation Type
Displays how the confirmation filter was satisfied.
Possible values:
* Volume
* Range
* Volume + Range
* None
---
# Alerts
The indicator includes four alerts:
### Confirmed Top Found
Generated when a filtered top is confirmed.
---
### Confirmed Bottom Found
Generated when a filtered bottom is confirmed.
---
### Top Watch
Generated for every structural pivot high before filtering.
---
### Bottom Watch
Generated for every structural pivot low before filtering.
---
# Understanding Signal Timing
This is important.
The indicator **does not repaint**, but it is intentionally delayed by the **Pivot Bars Right** setting.
Example:
Right Bars = 5
A top occurring today will only be confirmed after five additional bars have closed without a higher high.
This is necessary because the indicator waits for confirmation that the pivot is truly established.
---
# Suggested Starting Settings
## Swing Trading (Daily)
* Left Bars: 100
* Right Bars: 5
* RSI: On
* EMA Filter: On
* Minimum ATR Extension: 5
* Confirmation: Volume Only
---
## Position Trading (Weekly)
* Left Bars: 150–250
* Right Bars: 5–10
* ATR Extension: 6–8
* Confirmation: Volume + Range
---
## Short-Term Trading (15–60 Minute)
* Left Bars: 30–60
* Right Bars: 3–5
* ATR Extension: 3–4
* Confirmation: Volume Only
---
# Strengths
* Adapts to market volatility using ATR.
* Filters out many insignificant pivots.
* Uses multiple independent confirmation methods.
* Supports higher-timeframe calculations on lower-timeframe charts.
* Does not repaint after pivot confirmation.
* Highly configurable for different trading styles.
---
# Current Limitations
* Signals are intentionally delayed by the selected Right Bars value.
* The indicator identifies **exhaustion points**, not trend direction.
* Strong trends can continue after a confirmed top or bottom, especially during momentum-driven markets.
* Volume confirmation may be less reliable for markets where reported volume is limited or synthetic (such as many forex CFDs).
---
# Best Use Practices
The indicator performs best when used to identify **areas of elevated reversal probability**, not as a standalone buy or sell trigger. Higher-quality setups occur when a confirmed signal aligns with higher-timeframe support or resistance, trendline breaks, divergence, or other independent forms of technical confirmation. Treat confirmed tops and bottoms as locations to focus attention rather than automatic entry points.
## User's Guide
---
# Overview
**Top & Bottom Finder XL** is a market exhaustion indicator.
Its purpose is **not** to predict every swing high and swing low.
Instead, it attempts to identify **high-probability exhaustion points** where price has become statistically extended and has a greater chance of reversing.
Unlike traditional pivot indicators, this indicator combines several independent filters:
* Structural pivots
* Momentum (RSI)
* Trend extension
* Volume
* Range expansion
Only when the selected filters agree does the indicator produce a **Confirmed Top** or **Confirmed Bottom**.
---
# How the Indicator Works
Every signal goes through the following process:
### Step 1 — Find a Pivot
The indicator first looks for a legitimate swing high or swing low using TradingView's pivot algorithm.
A pivot is not confirmed until the required number of right bars has completed.
Example:
Left = 100
Right = 5
means:
* current high must be higher than the previous 100 bars
* and remain the highest point for the next 5 bars
Only then is it officially a pivot.
---
### Step 2 — Apply RSI Filter (Optional)
Purpose:
Avoid taking pivots that occur without momentum extremes.
A top requires
RSI ≥ Top Threshold
A bottom requires
RSI ≤ Bottom Threshold
Default:
Top = 65
Bottom = 35
Disabling this filter means RSI is ignored completely.
---
### Step 3 — Apply Trend Extension Filter (Optional)
Purpose:
Avoid taking pivots that are too close to the trend.
The indicator measures:
Distance from EMA
using ATR.
Formula:
Distance =
Price − EMA
divided by ATR
Example
EMA = 100
ATR = 2
Price = 110
Distance =
10 ÷ 2
= 5 ATR
If Minimum ATR Extension = 5
the signal passes.
Otherwise it is rejected.
This filter is extremely effective at removing mediocre signals.
---
### Step 4 — Confirmation Filter
This determines whether the pivot occurred with unusually strong participation.
There are four modes.
## Off
No confirmation required.
Every pivot that passes the other filters becomes confirmed.
Produces the most signals.
---
## Volume Only
The pivot bar must have
Volume >
Average Volume × Multiplier
Default
50-bar average
Multiplier = 2
---
## Range Only
The pivot candle must have
Range >
Average Range × Multiplier
This looks for unusually large candles.
---
## Volume + Range
The strictest mode.
Requires BOTH:
* high volume
* large candle
Produces the fewest signals.
Usually the highest quality.
---
# Timeframe Settings
## Calculation Timeframe
Allows calculations on another timeframe.
Example
Chart = 15 minute
Calculation = 1 hour
Signals are calculated from hourly data but displayed on the 15-minute chart.
Leave blank to use the current chart timeframe.
---
# Pivot Settings
## Pivot Bars Left
Controls how significant the pivot must be.
Small values
More signals
Less significant
Large values
Fewer signals
More important turning points
Default
100
---
## Pivot Bars Right
Controls confirmation delay.
Larger values
Later signals
Higher confidence
Smaller values
Earlier signals
More false signals
Default
5
---
# Signal Filters
## Use RSI Filter
Enable or disable RSI completely.
---
## RSI Length
Default
14
Controls how RSI is calculated.
---
## Top RSI Threshold
Minimum RSI required for tops.
Default
65
Higher values
Fewer signals
---
## Bottom RSI Threshold
Maximum RSI allowed for bottoms.
Default
35
Lower values
Fewer signals
---
## Use Trend EMA Filter
Turns EMA distance filtering on or off.
---
## Trend EMA Length
Default
200
Long-term trend reference.
---
## ATR Length
Default
14
Used to normalize volatility.
---
## Minimum ATR Extension
Default
5 ATR
Controls how far price must stretch away from the EMA.
Higher values
Only extreme exhaustion
Lower values
More frequent signals
---
## Confirmation Mode
Options:
* Off
* Volume Only
* Range Only
* Volume + Range
Determines final confirmation.
---
## Volume / Range Average Length
Default
50
Average period used for volume and range comparisons.
---
## Volume Multiplier
Default
2
Required increase above average volume.
Example
Average volume = 100,000
Multiplier = 2
Required volume
200,000
---
## Range Expansion Multiplier
Default
0.5
Required increase above average candle range.
Higher values
Require larger candles.
---
# Display Settings
## Show Trend EMA
Displays the EMA used for trend extension.
Useful for visualizing how stretched price became.
---
## Show Watch Signals
Displays every confirmed pivot before filtering.
Watch signals represent:
"Potential reversal areas."
Confirmed signals represent:
"Filtered, higher-probability reversal areas."
---
## Color Settings
Customize:
* Watch Tops
* Watch Bottoms
* Confirmed Tops
* Confirmed Bottoms
* EMA
---
# Label Controls
These options determine what information appears inside Confirmed labels.
---
## Show Price
Displays pivot price.
Example
Price
145.32
---
## Show Pivot Settings
Displays
Left / Right
Example
100 / 5
Useful when comparing settings.
---
## Show RSI
Displays RSI at the pivot.
Example
RSI
72.5
---
## Show Volume
Displays pivot volume.
Useful when Volume confirmation is enabled.
---
## Show ATR
Displays ATR at the pivot.
Important:
This is **not** the distance from the EMA.
It simply displays the market's volatility (ATR) at the time the pivot formed.
Higher ATR means a more volatile market.
Lower ATR means a quieter market.
---
## Show EMA Distance
Displays
Distance from EMA
measured in ATRs.
Example
EMA Dist
5.82 ATR
This is arguably the most useful statistic on the label because it quantifies how extended price was when the reversal occurred.
---
## Show Confirmation Type
Displays how the confirmation filter was satisfied.
Possible values:
* Volume
* Range
* Volume + Range
* None
---
# Alerts
The indicator includes four alerts:
### Confirmed Top Found
Generated when a filtered top is confirmed.
---
### Confirmed Bottom Found
Generated when a filtered bottom is confirmed.
---
### Top Watch
Generated for every structural pivot high before filtering.
---
### Bottom Watch
Generated for every structural pivot low before filtering.
---
# Understanding Signal Timing
This is important.
The indicator **does not repaint**, but it is intentionally delayed by the **Pivot Bars Right** setting.
Example:
Right Bars = 5
A top occurring today will only be confirmed after five additional bars have closed without a higher high.
This is necessary because the indicator waits for confirmation that the pivot is truly established.
---
# Suggested Starting Settings
## Swing Trading (Daily)
* Left Bars: 100
* Right Bars: 5
* RSI: On
* EMA Filter: On
* Minimum ATR Extension: 5
* Confirmation: Volume Only
---
## Position Trading (Weekly)
* Left Bars: 150–250
* Right Bars: 5–10
* ATR Extension: 6–8
* Confirmation: Volume + Range
---
## Short-Term Trading (15–60 Minute)
* Left Bars: 30–60
* Right Bars: 3–5
* ATR Extension: 3–4
* Confirmation: Volume Only
---
# Strengths
* Adapts to market volatility using ATR.
* Filters out many insignificant pivots.
* Uses multiple independent confirmation methods.
* Supports higher-timeframe calculations on lower-timeframe charts.
* Does not repaint after pivot confirmation.
* Highly configurable for different trading styles.
---
# Current Limitations
* Signals are intentionally delayed by the selected Right Bars value.
* The indicator identifies **exhaustion points**, not trend direction.
* Strong trends can continue after a confirmed top or bottom, especially during momentum-driven markets.
* Volume confirmation may be less reliable for markets where reported volume is limited or synthetic (such as many forex CFDs).
---
# Best Use Practices
The indicator performs best when used to identify **areas of elevated reversal probability**, not as a standalone buy or sell trigger. Higher-quality setups occur when a confirmed signal aligns with higher-timeframe support or resistance, trendline breaks, divergence, or other independent forms of technical confirmation. Treat confirmed tops and bottoms as locations to focus attention rather than automatic entry points.
Notas de Lançamento
Added Timeframe to Top & Bottom Labels.This way the user can instantly see what setting is generating the Top & Bottom labels.
Notas de Lançamento
**Summary of the Update**Signals are no longer a single "Confirmed Top" or "Confirmed Bottom." Every top and bottom is now graded **Weak, Strong, or Extreme** based on how overbought or oversold RSI was at the pivot. All other filters (Trend EMA extension and Confirmation Mode) still work as hard gates — a pivot must pass them or no signal prints at all. Only the grade itself comes from RSI.
**How Grading Works**
- **Tops:** RSI at the pivot high must reach at least 60 for a Weak Top, 70 for a Strong Top, and 80 for an Extreme Top. Below 60, no top signal is generated.
- **Bottoms:** RSI at the pivot low must be at or below 40 for a Weak Bottom, 30 for a Strong Bottom, and 20 for an Extreme Bottom. Above 40, no bottom signal is generated.
- **Confirmation Mode is a hard gate:** if the pivot bar fails the volume/range check, nothing prints regardless of RSI. Setting it to "Off" disables the gate entirely.
- All six RSI thresholds are fully adjustable, so the tiers can be tightened or loosened independently for tops and bottoms.
**New User Inputs (vs. the Original)**
- **Signal Grading group (new):** RSI Length moved here, plus six new threshold inputs — Weak Top RSI (60), Strong Top RSI (70), Extreme Top RSI (80), Weak Bottom RSI (40), Strong Bottom RSI (30), Extreme Bottom RSI (20).
- **Six new color inputs:** Weak Top (orange), Strong Top (red), Extreme Top (maroon), Weak Bottom (aqua), Strong Bottom (lime), Extreme Bottom (teal). Each grade gets its own label color.
**Removed Inputs (vs. the Original)**
- **"Use RSI Filter" toggle** — removed because RSI is now the core of the grading system and always required. To effectively loosen it, set the Weak thresholds toward 50.
- **Single "Top RSI Threshold" (65) and "Bottom RSI Threshold" (35)** — replaced by the six tiered thresholds above.
- **"Confirmed Top Color" and "Confirmed Bottom Color"** — replaced by the six per-grade colors.
**Changed Behavior & Labels**
- Labels now read **"Weak Top," "Strong Top," "Extreme Top"** (and the Bottom equivalents) instead of "Confirmed Top/Bottom," colored by grade.
- The **Confirm line** in labels now shows what the pivot bar passed by — e.g., "Pass (Volume + Range)" — or "Off" when Confirmation Mode is disabled. The "Show Confirmation Detail" label toggle is now **on by default** (it was off in the original).
- Label control names were shortened ("Show Price" instead of "Show Price In Label," etc.) — cosmetic only.
**New Alerts**
The two original signal alerts are replaced by eight: **"Any Top Found"** and **"Any Bottom Found"** catch-alls, plus dedicated **Weak / Strong / Extreme** alerts for each side. Top Watch and Bottom Watch alerts are unchanged.
**Important for Existing Users**
Any alerts created on the old version will not carry over — TradingView binds alerts to the script version at creation, and the alert list has changed. Delete old alerts and recreate them after updating.
---
One blunt note: the default Weak thresholds (60/40) are loose — RSI 60 is normal in any uptrend, so with Confirmation Mode "Off" you'll get frequent Weak labels. The defaults lean on the ATR extension and volume gates to keep signal count sane, which is worth stating in your notes if other people will use this.
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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.