OPEN-SOURCE SCRIPT
V16 Trend Anazlysis
V16 - Daily Scoring Indicator Description
==========================================
V16 is a daily chart scoring indicator that evaluates whether a stock has the right conditions for a trade. Rather than giving a simple buy or sell signal, it scores the current setup out of 100 and tells you how strong the opportunity is before you commit to an entry. V16 is designed to be used first, before dropping to the 15 minute chart with V16E for the precise entry.
HOW IT WORKS
------------
V16 watches three core indicators simultaneously and combines them into a single score out of 100. The score updates on every bar and is displayed in a table in the top right corner of your chart. The higher the score, the stronger the setup. The colour of the score changes from red through orange, yellow and green to bright green as confidence increases.
ADX - 40 points - the foundation
----------------------------------
The Average Directional Index is the most heavily weighted component because without a real trend, the other indicators mean very little. ADX measures trend strength on a scale of 0 to 100. Anything below 20 is considered a ranging, choppy market where trades are unreliable. Above 25 is where a genuine trend begins.
ADX scores points in three ways:
Base Strength - how strong is the trend right now?
Above 75 = Extreme = 20 points
Above 50 = Very Strong = 16 points
Above 35 = Strong = 12 points
Above 25 = Moderate = 7 points
Above 20 = Developing = 2 points
Below 20 = No Trend = 0 points
Direction - is the trend getting stronger or weaker?
Rising strongly (3+ points vs 3 bars ago) = 12 points
Rising moderately (1-3 points) = 7 points
Flat (within 1 point) = 3 points
Falling = 0 points
DI Line Separation - how much conviction is behind the trend?
The two DI lines inside ADX show buying pressure (DI+) and selling pressure (DI-). When they are far apart and moving further apart, the trend has real conviction.
Gap 15+ and widening = 8 points
Gap 8-15 and widening = 6 points
Gap 8-15 flat = 4 points
Gap 4-8 = 2 points
Lines crossing/tangled = 0 points
RSI - 35 points - momentum and timing
---------------------------------------
The Relative Strength Index measures momentum. V16 uses RSI in a more refined way than just watching the standard 70 and 30 levels. It uses the RSI zone, a signal line crossover, and the 50 midline to determine the quality of the momentum behind the move.
RSI scores points in two ways:
Zone - where is RSI sitting right now?
Bull control zone 65-70 = 18 points (long)
Neutral high 55-65 = 14 points (long)
Trending bull 50-55 = 8 points (long)
Overbought above 70 = 10 points (long, extended)
Neutral 45-50 = 0 points
Trending bear 40-46 = 8 points (short)
Neutral low 35-40 = 14 points (short)
Bear control 30-35 = 18 points (short)
Oversold below 30 = 10 points (short, extended)
Signal Line and 50 Cross - is momentum confirmed?
V16 applies a 9 period EMA to the RSI, creating a signal line. Crossovers of this line are meaningful entry signals. The highest scoring condition is a pullback setup - where RSI dipped below 50 and has now recovered back above it while crossing the signal line. This pattern shows the trend is healthy and buyers stepped back in at the right moment.
Pullback below 50, now recrossing above 50 and signal line = 17 points
Pullback and RSI above signal line (no fresh cross) = 13 points
Fresh cross above signal line while above 50 = 12 points
RSI above signal line, above 50 = 8 points
Cross above signal line while below 50 (early) = 4 points
(Mirror conditions apply for short signals)
DELTA - 25 points - buying and selling pressure
-------------------------------------------------
Delta measures where each candle closed relative to its own high-low range. A candle that opened at the low and closed near the high shows strong buying pressure. A candle that did the opposite shows selling pressure. Delta scores points in three ways:
Zone - how strong is the pressure on this candle?
Strong buying or selling (60%+) = 10 points
Moderate buying or selling (20-60%) = 7 points
Weak (5-20%) = 3 points
Neutral (-5% to +5%) = 0 points
Direction - is pressure increasing or fading?
Rising strongly (10%+ increase) = 9 points (long)
Rising moderately (5-10%) = 6 points (long)
Flat (within 5%) = 3 points
Falling moderately = 4 points (short)
Falling strongly (10%+ decrease) = 9 points (short)
Momentum - has buying/selling been consistent over 3 bars?
Positive all 3 bars = 6 points (long)
Positive 2 of 3 bars = 3 points (long)
Mixed = 0 points
Negative 2 of 3 bars = 3 points (short)
Negative all 3 bars = 6 points (short)
SCORING BREAKDOWN
-----------------
Indicator Component Max Points
--------- --------- ----------
ADX Base strength 20
ADX Direction (vs 3 bars ago) 12
ADX DI lines + separation 8
RSI Zone 18
RSI Signal line + 50 cross 17
Delta Zone 10
Delta Direction 9
Delta Momentum (3 bars) 6
----------------------------------------------------------
Total 100
Score Colours:
80 - 100 = Bright green (strong setup)
60 - 79 = Green (good setup)
40 - 59 = Yellow (moderate)
20 - 39 = Orange (weak)
0 - 19 = Red (no setup)
THE TABLE - TOP RIGHT OF CHART
-------------------------------
V16 displays a table in the top right corner of your TradingView chart with the following rows:
ADR% Average Daily Range - how much the stock typically moves per day
LoD Location of Day - where price sits within today's range
Vol Raw volume for the current bar
RVOL Relative Volume - today's volume vs the 20 bar average
Delta Candle delta percentage and label
Trend ADX value and trend strength label
RSI RSI value and zone label
BB Bollinger Band status (Normal, Squeeze, Upper Touch, Lower Touch)
Score The combined score out of 100
SIGNAL TYPES
------------
When the score is active and DI lines confirm a direction, V16 identifies the type of setup:
Long Momentum
ADX strong, RSI above 50 and rising, delta positive. You are joining an existing uptrend that still has energy. Higher risk as the move has started but trend is clearly confirmed.
Long Pullback
ADX strong, RSI dipped below 50 within the last 5 bars and has now recovered back above it, delta turning positive. You are buying the dip within a healthy uptrend. Generally considered a higher quality entry with better risk-reward.
Short Momentum and Short Pullback follow the same logic in reverse.
DELTA AS A WARNING NOT A BLOCKER
----------------------------------
Delta does not block a signal. If ADX and RSI conditions are met, V16 still shows the score even if delta is weak or neutral. A weak delta simply reduces the total score, making the signal appear in yellow or orange rather than green. This design prevents a single choppy candle from hiding what could be a valid setup on a strong trend day. You can see the delta value in the table at all times and use it as additional context for your own judgment.
KEY SETTINGS
------------
Trend Settings
ADX Length Default 14
ADX Smooth Default 14
ADX Threshold Default 25 (minimum ADX to count as a trend)
RSI Settings
RSI Length Default 14
RSI Signal EMA Default 9
Pullback Window Default 5 bars (how far back to look for RSI dip below 50)
Moving Averages
MA1 EMA 9 (fast, blue)
MA2 SMA 50 (medium, orange)
MA3 SMA 200 (slow, green)
Bollinger Bands
Length Default 20
StdDev Multiplier Default 2.0
Squeeze Threshold Default 0.02
Signal History
Lookback Default 20 bars (shows L and S count in last N bars)
Display
Device Laptop or Phone (adjusts label lengths)
Text Size Tiny / Small / Normal / Large
HOW TO USE V16 WITH V16E
--------------------------
Step 1 - Open V16 on the daily chart of any stock you are watching.
Step 2 - Check the score. Is it 60 or above? Is the direction clear (Long or Short)?
Step 3 - If yes, open V16E on the same stock and set the timeframe to 15M in V16E settings.
Step 4 - Watch the V16E score build in real time on the 15 minute chart.
Step 5 - When V16E fires an arrow with a score above 70 in the same direction as V16, that is your entry point.
VERSION HISTORY
---------------
V15 - Original indicator with ADX, RSI, Delta, BB, signal history, MA plots
V15u - Delta moved from hard signal gate to warning only (first upgrade)
V16 - Full scoring system added (100 points)
- RSI signal line (9 EMA) added
- Pullback vs Momentum detection added
- Score replaces Trade row in table
- Colour gradient red to bright green
- ADX direction and DI separation scoring added
- Delta direction and momentum scoring added
- RSI zone refined with 50 midline and signal line crossover logic
- Pullback rebreak of 50 scores highest in RSI component
==========================================
V16 is a daily chart scoring indicator that evaluates whether a stock has the right conditions for a trade. Rather than giving a simple buy or sell signal, it scores the current setup out of 100 and tells you how strong the opportunity is before you commit to an entry. V16 is designed to be used first, before dropping to the 15 minute chart with V16E for the precise entry.
HOW IT WORKS
------------
V16 watches three core indicators simultaneously and combines them into a single score out of 100. The score updates on every bar and is displayed in a table in the top right corner of your chart. The higher the score, the stronger the setup. The colour of the score changes from red through orange, yellow and green to bright green as confidence increases.
ADX - 40 points - the foundation
----------------------------------
The Average Directional Index is the most heavily weighted component because without a real trend, the other indicators mean very little. ADX measures trend strength on a scale of 0 to 100. Anything below 20 is considered a ranging, choppy market where trades are unreliable. Above 25 is where a genuine trend begins.
ADX scores points in three ways:
Base Strength - how strong is the trend right now?
Above 75 = Extreme = 20 points
Above 50 = Very Strong = 16 points
Above 35 = Strong = 12 points
Above 25 = Moderate = 7 points
Above 20 = Developing = 2 points
Below 20 = No Trend = 0 points
Direction - is the trend getting stronger or weaker?
Rising strongly (3+ points vs 3 bars ago) = 12 points
Rising moderately (1-3 points) = 7 points
Flat (within 1 point) = 3 points
Falling = 0 points
DI Line Separation - how much conviction is behind the trend?
The two DI lines inside ADX show buying pressure (DI+) and selling pressure (DI-). When they are far apart and moving further apart, the trend has real conviction.
Gap 15+ and widening = 8 points
Gap 8-15 and widening = 6 points
Gap 8-15 flat = 4 points
Gap 4-8 = 2 points
Lines crossing/tangled = 0 points
RSI - 35 points - momentum and timing
---------------------------------------
The Relative Strength Index measures momentum. V16 uses RSI in a more refined way than just watching the standard 70 and 30 levels. It uses the RSI zone, a signal line crossover, and the 50 midline to determine the quality of the momentum behind the move.
RSI scores points in two ways:
Zone - where is RSI sitting right now?
Bull control zone 65-70 = 18 points (long)
Neutral high 55-65 = 14 points (long)
Trending bull 50-55 = 8 points (long)
Overbought above 70 = 10 points (long, extended)
Neutral 45-50 = 0 points
Trending bear 40-46 = 8 points (short)
Neutral low 35-40 = 14 points (short)
Bear control 30-35 = 18 points (short)
Oversold below 30 = 10 points (short, extended)
Signal Line and 50 Cross - is momentum confirmed?
V16 applies a 9 period EMA to the RSI, creating a signal line. Crossovers of this line are meaningful entry signals. The highest scoring condition is a pullback setup - where RSI dipped below 50 and has now recovered back above it while crossing the signal line. This pattern shows the trend is healthy and buyers stepped back in at the right moment.
Pullback below 50, now recrossing above 50 and signal line = 17 points
Pullback and RSI above signal line (no fresh cross) = 13 points
Fresh cross above signal line while above 50 = 12 points
RSI above signal line, above 50 = 8 points
Cross above signal line while below 50 (early) = 4 points
(Mirror conditions apply for short signals)
DELTA - 25 points - buying and selling pressure
-------------------------------------------------
Delta measures where each candle closed relative to its own high-low range. A candle that opened at the low and closed near the high shows strong buying pressure. A candle that did the opposite shows selling pressure. Delta scores points in three ways:
Zone - how strong is the pressure on this candle?
Strong buying or selling (60%+) = 10 points
Moderate buying or selling (20-60%) = 7 points
Weak (5-20%) = 3 points
Neutral (-5% to +5%) = 0 points
Direction - is pressure increasing or fading?
Rising strongly (10%+ increase) = 9 points (long)
Rising moderately (5-10%) = 6 points (long)
Flat (within 5%) = 3 points
Falling moderately = 4 points (short)
Falling strongly (10%+ decrease) = 9 points (short)
Momentum - has buying/selling been consistent over 3 bars?
Positive all 3 bars = 6 points (long)
Positive 2 of 3 bars = 3 points (long)
Mixed = 0 points
Negative 2 of 3 bars = 3 points (short)
Negative all 3 bars = 6 points (short)
SCORING BREAKDOWN
-----------------
Indicator Component Max Points
--------- --------- ----------
ADX Base strength 20
ADX Direction (vs 3 bars ago) 12
ADX DI lines + separation 8
RSI Zone 18
RSI Signal line + 50 cross 17
Delta Zone 10
Delta Direction 9
Delta Momentum (3 bars) 6
----------------------------------------------------------
Total 100
Score Colours:
80 - 100 = Bright green (strong setup)
60 - 79 = Green (good setup)
40 - 59 = Yellow (moderate)
20 - 39 = Orange (weak)
0 - 19 = Red (no setup)
THE TABLE - TOP RIGHT OF CHART
-------------------------------
V16 displays a table in the top right corner of your TradingView chart with the following rows:
ADR% Average Daily Range - how much the stock typically moves per day
LoD Location of Day - where price sits within today's range
Vol Raw volume for the current bar
RVOL Relative Volume - today's volume vs the 20 bar average
Delta Candle delta percentage and label
Trend ADX value and trend strength label
RSI RSI value and zone label
BB Bollinger Band status (Normal, Squeeze, Upper Touch, Lower Touch)
Score The combined score out of 100
SIGNAL TYPES
------------
When the score is active and DI lines confirm a direction, V16 identifies the type of setup:
Long Momentum
ADX strong, RSI above 50 and rising, delta positive. You are joining an existing uptrend that still has energy. Higher risk as the move has started but trend is clearly confirmed.
Long Pullback
ADX strong, RSI dipped below 50 within the last 5 bars and has now recovered back above it, delta turning positive. You are buying the dip within a healthy uptrend. Generally considered a higher quality entry with better risk-reward.
Short Momentum and Short Pullback follow the same logic in reverse.
DELTA AS A WARNING NOT A BLOCKER
----------------------------------
Delta does not block a signal. If ADX and RSI conditions are met, V16 still shows the score even if delta is weak or neutral. A weak delta simply reduces the total score, making the signal appear in yellow or orange rather than green. This design prevents a single choppy candle from hiding what could be a valid setup on a strong trend day. You can see the delta value in the table at all times and use it as additional context for your own judgment.
KEY SETTINGS
------------
Trend Settings
ADX Length Default 14
ADX Smooth Default 14
ADX Threshold Default 25 (minimum ADX to count as a trend)
RSI Settings
RSI Length Default 14
RSI Signal EMA Default 9
Pullback Window Default 5 bars (how far back to look for RSI dip below 50)
Moving Averages
MA1 EMA 9 (fast, blue)
MA2 SMA 50 (medium, orange)
MA3 SMA 200 (slow, green)
Bollinger Bands
Length Default 20
StdDev Multiplier Default 2.0
Squeeze Threshold Default 0.02
Signal History
Lookback Default 20 bars (shows L and S count in last N bars)
Display
Device Laptop or Phone (adjusts label lengths)
Text Size Tiny / Small / Normal / Large
HOW TO USE V16 WITH V16E
--------------------------
Step 1 - Open V16 on the daily chart of any stock you are watching.
Step 2 - Check the score. Is it 60 or above? Is the direction clear (Long or Short)?
Step 3 - If yes, open V16E on the same stock and set the timeframe to 15M in V16E settings.
Step 4 - Watch the V16E score build in real time on the 15 minute chart.
Step 5 - When V16E fires an arrow with a score above 70 in the same direction as V16, that is your entry point.
VERSION HISTORY
---------------
V15 - Original indicator with ADX, RSI, Delta, BB, signal history, MA plots
V15u - Delta moved from hard signal gate to warning only (first upgrade)
V16 - Full scoring system added (100 points)
- RSI signal line (9 EMA) added
- Pullback vs Momentum detection added
- Score replaces Trade row in table
- Colour gradient red to bright green
- ADX direction and DI separation scoring added
- Delta direction and momentum scoring added
- RSI zone refined with 50 midline and signal line crossover logic
- Pullback rebreak of 50 scores highest in RSI component
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.