OPEN-SOURCE SCRIPT
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AKJ Strategy — Trend & Pullback Indicator
This indicator is based on the AKJ Swing Trading Strategy and combines Bollinger Bands (10/1) with Williams %R (4) across two timeframes. It is designed as a visual screener — the final trading decision always requires your own analysis.
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BACKGROUND COLORS (Weekly Chart Status)
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🟢 GREEN — Weekly Long active
The weekly chart has closed above the upper Bollinger Band at least 2 consecutive times. The background remains green until a counter-signal appears.
🔴 RED — Weekly Short active
The weekly chart has closed below the lower Bollinger Band at least 2 consecutive times.
🔵 BLUE — Warning (possible trend reversal)
The current week closes for the first time against the existing weekly direction (1x above BB during a Short, 1x below BB during a Long). The signal is still active — proceed with caution.
⬜ NEUTRAL — No weekly setup present.
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CHART SIGNALS
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▲ LONG Pullback (green arrow)
Appears when: Weekly Long active + Daily closed 2x above BB + Williams %R ≤ -80% + current candle is a down candle (Close < Open). The arrow appears on every qualifying candle as long as the setup remains active — the entry stop is trailed accordingly.
▼ SHORT Pullback (red arrow)
Appears when: Weekly Short active + Daily closed 2x below BB + Williams %R ≥ -20% + current candle is an up candle (Close > Open). Same principle for trailing the entry.
✕ Signal broken (orange cross)
Appears once when the daily chart closes 2 consecutive times against the weekly direction. The daily setup is then invalid. It reactivates automatically once the daily closes 2x again in the direction of the weekly trend.
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INFO BOX (top right)
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Weekly — Current weekly chart status (LONG ✓ / SHORT ✓ / NEUTRAL)
Daily Signal — Whether the daily setup is active (LONG active / SHORT active / no setup)
Williams %R — Current %R value, color-coded when inside the trigger zone
Pullback — Whether a pullback signal is present on the current candle
Setup ▲▼ — Summary row: lights up green/red when all conditions for a trade are met and an entry would be valid. Designed for fast screening.
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SCREENER USAGE
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This indicator is designed as a first filter when screening stocks. The Setup row in the info box shows at a glance whether a potential trade is present. A full analysis — including the higher timeframe monthly trend, upcoming earnings, and overall market conditions — is always required before entering any trade.
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SETTINGS
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BB Length: 10 (default)
BB Standard Deviation: 1.0 (default)
Williams %R Length: 4 (default)
Oversold Level: -80 (Long trigger)
Overbought Level: -20 (Short trigger)
All parameters are adjustable.
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DISCLAIMER
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This indicator is for educational purposes only. It does not constitute financial or investment advice. Trading involves substantial risk of loss. Past signals are no guarantee of future results. Always trade at your own risk.
This indicator is based on the AKJ Swing Trading Strategy and combines Bollinger Bands (10/1) with Williams %R (4) across two timeframes. It is designed as a visual screener — the final trading decision always requires your own analysis.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
BACKGROUND COLORS (Weekly Chart Status)
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
🟢 GREEN — Weekly Long active
The weekly chart has closed above the upper Bollinger Band at least 2 consecutive times. The background remains green until a counter-signal appears.
🔴 RED — Weekly Short active
The weekly chart has closed below the lower Bollinger Band at least 2 consecutive times.
🔵 BLUE — Warning (possible trend reversal)
The current week closes for the first time against the existing weekly direction (1x above BB during a Short, 1x below BB during a Long). The signal is still active — proceed with caution.
⬜ NEUTRAL — No weekly setup present.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
CHART SIGNALS
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
▲ LONG Pullback (green arrow)
Appears when: Weekly Long active + Daily closed 2x above BB + Williams %R ≤ -80% + current candle is a down candle (Close < Open). The arrow appears on every qualifying candle as long as the setup remains active — the entry stop is trailed accordingly.
▼ SHORT Pullback (red arrow)
Appears when: Weekly Short active + Daily closed 2x below BB + Williams %R ≥ -20% + current candle is an up candle (Close > Open). Same principle for trailing the entry.
✕ Signal broken (orange cross)
Appears once when the daily chart closes 2 consecutive times against the weekly direction. The daily setup is then invalid. It reactivates automatically once the daily closes 2x again in the direction of the weekly trend.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
INFO BOX (top right)
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Weekly — Current weekly chart status (LONG ✓ / SHORT ✓ / NEUTRAL)
Daily Signal — Whether the daily setup is active (LONG active / SHORT active / no setup)
Williams %R — Current %R value, color-coded when inside the trigger zone
Pullback — Whether a pullback signal is present on the current candle
Setup ▲▼ — Summary row: lights up green/red when all conditions for a trade are met and an entry would be valid. Designed for fast screening.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
SCREENER USAGE
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
This indicator is designed as a first filter when screening stocks. The Setup row in the info box shows at a glance whether a potential trade is present. A full analysis — including the higher timeframe monthly trend, upcoming earnings, and overall market conditions — is always required before entering any trade.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
SETTINGS
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
BB Length: 10 (default)
BB Standard Deviation: 1.0 (default)
Williams %R Length: 4 (default)
Oversold Level: -80 (Long trigger)
Overbought Level: -20 (Short trigger)
All parameters are adjustable.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
DISCLAIMER
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
This indicator is for educational purposes only. It does not constitute financial or investment advice. Trading involves substantial risk of loss. Past signals are no guarantee of future results. Always trade at your own risk.
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。