OPEN-SOURCE SCRIPT
Trendsetter : The Hourly Footprint (ATR)
Title: Trendsetter : The Hourly Footprint (ATR)
The Concept:
Successful trading requires a plan that adapts to shifting market conditions. The Trendsetter : Hourly Footprint (ATR) is a professional-grade structure tool designed to identify high-probability entries while providing a mathematically sound framework for setup invalidation. It focuses on the "Hourly Footprint"—using the previous hour's close to map out market momentum and technical exits.
Key Features:
The 50% Entry Rule: Automatically identifies the exact middle (retracement) of the previous 1-hour candle as a high-value entry zone.
Volatility-Based Invalidation (ATR): Rather than using arbitrary points, this tool uses a dynamic ATR (Average True Range) calculation to determine where a setup is no longer valid. This ensures your invalidation levels are always in sync with the market's current "breath".
Adjustable Multipliers: Choose between 0.5 (Aggressive), 1.0 (Standard), or 1.5 (Conservative) to match your personal strategy and risk tolerance.
Fibonacci Profit Targets: Precision exit levels calculated mathematically from the previous H1 range:
TP1 (161.8%): Initial target for locking in gains.
TP2 (222.0%): Optimized "runner" target for high-momentum extensions.
MTF Stability: The logic is locked to the H1 timeframe, providing a consistent anchor whether you are viewing a 1-minute, 5-minute, or 15-minute chart.
How to Use:
Spot the Signal: Identify the bias via the Green (▲) or Red (▼) triangle signals.
Define Invalidation: Set your ATR Multiplier to define where the market structure is technically broken for that hour.
Execute & Exit: Place entries at the 50% "Entry Point" and use the automated Fibonacci lines for objective profit-taking.
⚠️ Strategy Limitations & Caution:
This tool is a visual structure aid, not an automated signal service. The bias is dependent on pure continuation—if the market is in a "chop" phase and H1 candles are alternating directions, the indicator will flip its bias accordingly. Always use this in conjunction with a broader trading plan and strict risk management.
The Concept:
Successful trading requires a plan that adapts to shifting market conditions. The Trendsetter : Hourly Footprint (ATR) is a professional-grade structure tool designed to identify high-probability entries while providing a mathematically sound framework for setup invalidation. It focuses on the "Hourly Footprint"—using the previous hour's close to map out market momentum and technical exits.
Key Features:
The 50% Entry Rule: Automatically identifies the exact middle (retracement) of the previous 1-hour candle as a high-value entry zone.
Volatility-Based Invalidation (ATR): Rather than using arbitrary points, this tool uses a dynamic ATR (Average True Range) calculation to determine where a setup is no longer valid. This ensures your invalidation levels are always in sync with the market's current "breath".
Adjustable Multipliers: Choose between 0.5 (Aggressive), 1.0 (Standard), or 1.5 (Conservative) to match your personal strategy and risk tolerance.
Fibonacci Profit Targets: Precision exit levels calculated mathematically from the previous H1 range:
TP1 (161.8%): Initial target for locking in gains.
TP2 (222.0%): Optimized "runner" target for high-momentum extensions.
MTF Stability: The logic is locked to the H1 timeframe, providing a consistent anchor whether you are viewing a 1-minute, 5-minute, or 15-minute chart.
How to Use:
Spot the Signal: Identify the bias via the Green (▲) or Red (▼) triangle signals.
Define Invalidation: Set your ATR Multiplier to define where the market structure is technically broken for that hour.
Execute & Exit: Place entries at the 50% "Entry Point" and use the automated Fibonacci lines for objective profit-taking.
⚠️ Strategy Limitations & Caution:
This tool is a visual structure aid, not an automated signal service. The bias is dependent on pure continuation—if the market is in a "chop" phase and H1 candles are alternating directions, the indicator will flip its bias accordingly. Always use this in conjunction with a broader trading plan and strict risk management.
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.
Developed by Trendsetter — Focus on structure, not noise. See my profile for more tools and setups.
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.
Developed by Trendsetter — Focus on structure, not noise. See my profile for more tools and setups.
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.