OPEN-SOURCE SCRIPT
V16E - Entry System
UNDER TESTING
V16E - Entry System Description
================================
V16E is a 15 minute entry timing indicator designed to work alongside V16. Where V16 tells you a stock is worth trading on the daily chart, V16E tells you the precise moment to pull the trigger on the lower timeframe.
HOW IT WORKS
------------
V16E combines three indicators into a single score out of 100. Every bar the score updates in real time in the bottom right corner of the pane, so you can watch it build before a signal fires and anticipate entries before the arrow appears.
STOCHASTIC - 40 points - the primary trigger
---------------------------------------------
The Stochastic oscillator is the engine of V16E. It measures where price closed relative to its recent range and reacts faster than RSI on lower timeframes. A signal only fires when Stochastic crosses at or near an extreme - below 20 for longs, above 80 for shorts. The closer to the extreme the crossover happens, the more points it scores. The indicator also measures acceleration - how fast %K is moving after the cross. A sharp fast recovery scores more than a slow drift.
RSI - 30 points - momentum weight
-----------------------------------
RSI never blocks a signal in V16E. Instead it weights how strong the signal is. RSI deep in oversold territory (below 30) on a long signal scores the maximum. RSI in neutral territory still contributes but less. The indicator also checks the RSI signal line (a 9 EMA of RSI) for crossovers and measures the slope of RSI - a steep rise scores more than a flat one. A pullback setup where RSI dipped below 50 and is now recovering back above it scores the highest on the signal line component.
RVOL AND DELTA - 20 points - pressure confirmation
----------------------------------------------------
RVOL measures whether volume is above or below average. High relative volume means more participants are behind the move - making the signal more reliable. Delta measures where the candle closed within its own range, showing whether buyers or sellers won that specific bar. Delta is checked over a user adjustable lookback window to confirm sustained buying or selling pressure rather than a single noisy candle.
SIGNAL STRENGTH - ARROW SIZES
------------------------------
When the score is high enough and a crossover fires, an arrow appears in the pane:
- Large bright arrow = score 70 or above = strong signal
- Medium arrow = score 45 to 69 = moderate signal
- Small arrow = score below 45 = weak signal, use caution
KEY FEATURES
------------
Timeframe Lock
You can set V16E to calculate its score on the 1M, 3M, 5M, 15M, 30M or 60M timeframe regardless of what chart you have open. The visual RSI and Stochastic lines always follow the chart you are on, but the score always reflects the timeframe you chose in settings.
Session Filter
Toggleable option that blocks signals in the first N minutes of the trading session. Default is off because many strong entries happen in the first 45 minutes.
Consecutive Bar Confirmation
The signal must still be valid one bar after the crossover fires. This filters out fake crossovers that immediately reverse.
Daily ADX Bonus
Optional toggle that pulls the daily ADX directly into V16E. When the daily trend is strong and aligned with the entry direction, up to 10 bonus points are added to the score. Default is off.
Divergence Detection
Optional RSI divergence labels in the pane, off by default.
SCORING BREAKDOWN
-----------------
Indicator Component Max Points
--------- --------- ----------
Stochastic Zone (cross at extreme) 30
Stochastic Acceleration (K speed) 10
RSI Zone 16
RSI Signal line + 50 cross 8
RSI Slope (steepness) 6
RVOL Volume confirmation 10
Delta Candle pressure 10
Daily ADX Optional bonus +10
----------------------------------------------------------
Total 100 (110 with bonus)
Score Colours:
80 - 100 = Bright green (strong)
60 - 79 = Green (good)
40 - 59 = Yellow (moderate)
20 - 39 = Orange (weak)
0 - 19 = Red (no signal)
HOW TO USE IT WITH V16
-----------------------
Step 1 - Check V16 on the daily chart. Is the score 60 or above with a clear direction?
Step 2 - Open V16E on the same stock. Set the timeframe to 15M in settings.
Step 3 - Watch the score build in real time. When Stochastic approaches the extreme zone, RSI momentum is moving in the right direction and delta is confirming, the score climbs.
Step 4 - When the arrow fires with a score above 70, that is your entry.
SETTINGS REFERENCE
------------------
Timeframe Settings
Calculation Timeframe Current / 1M / 3M / 5M / 15M / 30M / 60M
RSI Settings
RSI Length Default 9 (optimised for 15M)
RSI Signal EMA Default 9
RSI Slope Lookback Default 3 bars
Stochastic Settings
%K Length Default 14
%K Smoothing Default 3
%D Smoothing Default 3
Overbought Level Default 80
Oversold Level Default 20
Near Extreme Zone Default 5 points
Acceleration Lookback Default 2 bars
Delta Settings
Delta Lookback Default 3 bars (adjustable 1-9)
Delta Threshold % Default 20%
Min Confirmed Bars Default 2
Session Filter
Enable Session Filter Default OFF
Block First N Minutes Default 45 minutes
Daily ADX Filter
Enable Daily ADX Bonus Default OFF
Daily ADX Length Default 14
Daily ADX Smooth Default 14
Daily ADX Threshold Default 25
VERSION HISTORY
---------------
V16E - Initial build combining RSI, Stochastic and Delta
- Added RVOL as volume confirmation
- Added timeframe lock (visuals follow chart, score follows setting)
- Added session filter (toggleable, default off)
- Added stochastic acceleration scoring
- Added RSI slope scoring
- Added consecutive bar confirmation
- Added daily ADX bonus (toggleable, default off)
- Added score table bottom right of pane
- Added divergence detection (optional, default off)
V16E - Entry System Description
================================
V16E is a 15 minute entry timing indicator designed to work alongside V16. Where V16 tells you a stock is worth trading on the daily chart, V16E tells you the precise moment to pull the trigger on the lower timeframe.
HOW IT WORKS
------------
V16E combines three indicators into a single score out of 100. Every bar the score updates in real time in the bottom right corner of the pane, so you can watch it build before a signal fires and anticipate entries before the arrow appears.
STOCHASTIC - 40 points - the primary trigger
---------------------------------------------
The Stochastic oscillator is the engine of V16E. It measures where price closed relative to its recent range and reacts faster than RSI on lower timeframes. A signal only fires when Stochastic crosses at or near an extreme - below 20 for longs, above 80 for shorts. The closer to the extreme the crossover happens, the more points it scores. The indicator also measures acceleration - how fast %K is moving after the cross. A sharp fast recovery scores more than a slow drift.
RSI - 30 points - momentum weight
-----------------------------------
RSI never blocks a signal in V16E. Instead it weights how strong the signal is. RSI deep in oversold territory (below 30) on a long signal scores the maximum. RSI in neutral territory still contributes but less. The indicator also checks the RSI signal line (a 9 EMA of RSI) for crossovers and measures the slope of RSI - a steep rise scores more than a flat one. A pullback setup where RSI dipped below 50 and is now recovering back above it scores the highest on the signal line component.
RVOL AND DELTA - 20 points - pressure confirmation
----------------------------------------------------
RVOL measures whether volume is above or below average. High relative volume means more participants are behind the move - making the signal more reliable. Delta measures where the candle closed within its own range, showing whether buyers or sellers won that specific bar. Delta is checked over a user adjustable lookback window to confirm sustained buying or selling pressure rather than a single noisy candle.
SIGNAL STRENGTH - ARROW SIZES
------------------------------
When the score is high enough and a crossover fires, an arrow appears in the pane:
- Large bright arrow = score 70 or above = strong signal
- Medium arrow = score 45 to 69 = moderate signal
- Small arrow = score below 45 = weak signal, use caution
KEY FEATURES
------------
Timeframe Lock
You can set V16E to calculate its score on the 1M, 3M, 5M, 15M, 30M or 60M timeframe regardless of what chart you have open. The visual RSI and Stochastic lines always follow the chart you are on, but the score always reflects the timeframe you chose in settings.
Session Filter
Toggleable option that blocks signals in the first N minutes of the trading session. Default is off because many strong entries happen in the first 45 minutes.
Consecutive Bar Confirmation
The signal must still be valid one bar after the crossover fires. This filters out fake crossovers that immediately reverse.
Daily ADX Bonus
Optional toggle that pulls the daily ADX directly into V16E. When the daily trend is strong and aligned with the entry direction, up to 10 bonus points are added to the score. Default is off.
Divergence Detection
Optional RSI divergence labels in the pane, off by default.
SCORING BREAKDOWN
-----------------
Indicator Component Max Points
--------- --------- ----------
Stochastic Zone (cross at extreme) 30
Stochastic Acceleration (K speed) 10
RSI Zone 16
RSI Signal line + 50 cross 8
RSI Slope (steepness) 6
RVOL Volume confirmation 10
Delta Candle pressure 10
Daily ADX Optional bonus +10
----------------------------------------------------------
Total 100 (110 with bonus)
Score Colours:
80 - 100 = Bright green (strong)
60 - 79 = Green (good)
40 - 59 = Yellow (moderate)
20 - 39 = Orange (weak)
0 - 19 = Red (no signal)
HOW TO USE IT WITH V16
-----------------------
Step 1 - Check V16 on the daily chart. Is the score 60 or above with a clear direction?
Step 2 - Open V16E on the same stock. Set the timeframe to 15M in settings.
Step 3 - Watch the score build in real time. When Stochastic approaches the extreme zone, RSI momentum is moving in the right direction and delta is confirming, the score climbs.
Step 4 - When the arrow fires with a score above 70, that is your entry.
SETTINGS REFERENCE
------------------
Timeframe Settings
Calculation Timeframe Current / 1M / 3M / 5M / 15M / 30M / 60M
RSI Settings
RSI Length Default 9 (optimised for 15M)
RSI Signal EMA Default 9
RSI Slope Lookback Default 3 bars
Stochastic Settings
%K Length Default 14
%K Smoothing Default 3
%D Smoothing Default 3
Overbought Level Default 80
Oversold Level Default 20
Near Extreme Zone Default 5 points
Acceleration Lookback Default 2 bars
Delta Settings
Delta Lookback Default 3 bars (adjustable 1-9)
Delta Threshold % Default 20%
Min Confirmed Bars Default 2
Session Filter
Enable Session Filter Default OFF
Block First N Minutes Default 45 minutes
Daily ADX Filter
Enable Daily ADX Bonus Default OFF
Daily ADX Length Default 14
Daily ADX Smooth Default 14
Daily ADX Threshold Default 25
VERSION HISTORY
---------------
V16E - Initial build combining RSI, Stochastic and Delta
- Added RVOL as volume confirmation
- Added timeframe lock (visuals follow chart, score follows setting)
- Added session filter (toggleable, default off)
- Added stochastic acceleration scoring
- Added RSI slope scoring
- Added consecutive bar confirmation
- Added daily ADX bonus (toggleable, default off)
- Added score table bottom right of pane
- Added divergence detection (optional, default off)
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.