OPEN-SOURCE SCRIPT
Covenant Participation Lattice [JOAT]
Covenant Participation Lattice [JOAT]
Introduction
Covenant Participation Lattice is an open-source participation-axis engine that builds a rolling price-distribution profile, stabilizes the point of control, and maps value-area structure around that axis. It is designed to show where price is accepted, where it is stretched, and whether current auction conditions are balanced, premium, or discounted.
Core Concepts
1. Rolling profile construction
A distribution of volume by price is rebuilt over a configurable lookback and row count. The profile identifies a raw point of control and the surrounding value area used to classify current price position.
2. Stabilized axis logic
Rather than plotting the raw POC directly, Covenant stabilizes the axis using staged adjustments constrained by ATR. This reduces noisy jumps while preserving meaningful auction shifts.
3. Premium, discount, and acceptance diagnostics
The script calculates how much volume sits above, below, and inside value. This allows the chart to distinguish accepted trade inside value from premium or discount extension away from it.
4. Corridor rendering
Guide lines and corridor fills visually connect the participation axis with the value-area bounds so the trader can see auction balance without reading the dashboard first.
Features
Disclaimer
This indicator is educational and informational only. Participation and value-area relationships describe auction context; they do not guarantee reversal or continuation.
- made with passion by officialjackofalltrades
Introduction
Covenant Participation Lattice is an open-source participation-axis engine that builds a rolling price-distribution profile, stabilizes the point of control, and maps value-area structure around that axis. It is designed to show where price is accepted, where it is stretched, and whether current auction conditions are balanced, premium, or discounted.
Core Concepts
1. Rolling profile construction
A distribution of volume by price is rebuilt over a configurable lookback and row count. The profile identifies a raw point of control and the surrounding value area used to classify current price position.
2. Stabilized axis logic
Rather than plotting the raw POC directly, Covenant stabilizes the axis using staged adjustments constrained by ATR. This reduces noisy jumps while preserving meaningful auction shifts.
3. Premium, discount, and acceptance diagnostics
The script calculates how much volume sits above, below, and inside value. This allows the chart to distinguish accepted trade inside value from premium or discount extension away from it.
4. Corridor rendering
Guide lines and corridor fills visually connect the participation axis with the value-area bounds so the trader can see auction balance without reading the dashboard first.
Features
- Rolling profile and stabilized participation axis
- Value-area high, low, and midpoint structure
- Premium/discount share analysis
- Balance tilt and tail-skew diagnostics
- Ribbon and top-right dashboard
- Confirmed alerts for axis reclaim, value-area breaks, and deep extension
Disclaimer
This indicator is educational and informational only. Participation and value-area relationships describe auction context; they do not guarantee reversal or continuation.
- made with passion by officialjackofalltrades
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
The Institutional Grade Trading Ecosystem, Built to win trades 📈
Get Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
Get Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
The Institutional Grade Trading Ecosystem, Built to win trades 📈
Get Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
Get Access 👇
jackofalltrades.vip 🌐
t.me/jackofalltradesvip 🃏
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.