OPEN-SOURCE SCRIPT
QuantLine Bottom Indicator Lite
QuantLine Bottom Indicator Lite scores market bottoming as a PROCESS, not a single candle.
It counts how many independent public-domain exhaustion conditions align at once and
shows score X/5:
1) Mayer Multiple — price / long moving average (default 200). Lamp ON when deeply
undervalued vs the MA (user threshold, default 0.8).
2) Higher-timeframe RSI — RSI on Daily, Weekly, or Monthly. Lamp ON when HTF RSI is
oversold (default ≤ 35).
3) Volume capitulation — volume spike on a red candle. Lamp ON when volume ≥ N× its
average (default 2×) and the bar closes lower.
4) Drawdown from peak — % decline from an N-period high (default 200 bars, 40%).
5) Bollinger stretch — close below the lower Bollinger Band (default 20, 2σ).
Why combine five conditions:
A single indicator (e.g. RSI alone) often fires early or late. Bottoms in practice tend
to form when valuation (Mayer), timeframe (HTF RSI), volume (capitulation), drawdown,
and stretch (BB) converge. The X/5 score is a convergence meter — exhaustion building
across independent dimensions, not a precise buy point.
How to use:
• Best on Daily or Weekly charts (swing/macro context, not scalping).
• 0–1/5: few exhaustion signs — continuation more likely.
• 3/5+ (default highlight): exhaustion building — start watching for your own structure.
• 4–5/5: deep exhaustion zone — historically where reversals often originate; exact low
timing remains uncertain.
Optional alert when score reaches your threshold — observation only.
All thresholds are user-adjustable generic defaults. No on-chain data, no proprietary
calibration, no entries/stops/targets.
Educational context tool only. Not financial advice.
It counts how many independent public-domain exhaustion conditions align at once and
shows score X/5:
1) Mayer Multiple — price / long moving average (default 200). Lamp ON when deeply
undervalued vs the MA (user threshold, default 0.8).
2) Higher-timeframe RSI — RSI on Daily, Weekly, or Monthly. Lamp ON when HTF RSI is
oversold (default ≤ 35).
3) Volume capitulation — volume spike on a red candle. Lamp ON when volume ≥ N× its
average (default 2×) and the bar closes lower.
4) Drawdown from peak — % decline from an N-period high (default 200 bars, 40%).
5) Bollinger stretch — close below the lower Bollinger Band (default 20, 2σ).
Why combine five conditions:
A single indicator (e.g. RSI alone) often fires early or late. Bottoms in practice tend
to form when valuation (Mayer), timeframe (HTF RSI), volume (capitulation), drawdown,
and stretch (BB) converge. The X/5 score is a convergence meter — exhaustion building
across independent dimensions, not a precise buy point.
How to use:
• Best on Daily or Weekly charts (swing/macro context, not scalping).
• 0–1/5: few exhaustion signs — continuation more likely.
• 3/5+ (default highlight): exhaustion building — start watching for your own structure.
• 4–5/5: deep exhaustion zone — historically where reversals often originate; exact low
timing remains uncertain.
Optional alert when score reaches your threshold — observation only.
All thresholds are user-adjustable generic defaults. No on-chain data, no proprietary
calibration, no entries/stops/targets.
Educational context tool only. Not financial advice.
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.
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.
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.