OPEN-SOURCE SCRIPT
Diupdate EvoORZ - Multi-Timeframe Optimal Retracement Zones
EvoORZ — Multi-Timeframe Optimal Retracement Zones
Disclaimer: EvoORZ is currently a prototype under active development. Despite extensive testing, the indicator may still contain errors, particularly in the detection or display of certain zones. All displayed results should therefore be verified before being used as part of any trading decision.
EvoORZ is a multi-timeframe indicator designed to automatically detect and display retracement zones based on significant market legs.
Its purpose is to make it easier to identify areas where price may retrace before potentially resuming the original directional move.
Several settings are available to adapt the detection process to different markets:
number of bars located to the left of the pivot;
number of bars required to confirm the pivot;
minimum leg size expressed as a multiple of ATR;
swing detection based on candlestick wicks or bodies.
The ATR filter helps reduce minor market fluctuations and prioritizes legs with more significant amplitude.
The indicator distinguishes between currently active zones and historical zones.
EvoORZ also allows users to customize:
the colors of bullish and bearish zones;
the transparency of active zones;
the transparency of historical zones;
the text displayed inside the zones;
the label size;
the visible timeframes;
the sensitivity of swing detection;
alerts triggered when a new zone is created or when price first interacts with a zone.
Important
EvoORZ is primarily a market-context tool.
A retracement zone does not, by itself, constitute a buy or sell signal. It should be analyzed in conjunction with market structure, the broader trend, liquidity, volatility, volume, and the other elements included in your trading plan.
Zones derived from higher timeframes can be used to establish the broader market context, while lower-timeframe zones may help refine trade execution.
This indicator does not predict future market movements and does not guarantee that price will react to any displayed zone. It should be used as an analytical aid and not as a standalone trading system.
Disclaimer: EvoORZ is currently a prototype under active development. Despite extensive testing, the indicator may still contain errors, particularly in the detection or display of certain zones. All displayed results should therefore be verified before being used as part of any trading decision.
EvoORZ is a multi-timeframe indicator designed to automatically detect and display retracement zones based on significant market legs.
Its purpose is to make it easier to identify areas where price may retrace before potentially resuming the original directional move.
Several settings are available to adapt the detection process to different markets:
number of bars located to the left of the pivot;
number of bars required to confirm the pivot;
minimum leg size expressed as a multiple of ATR;
swing detection based on candlestick wicks or bodies.
The ATR filter helps reduce minor market fluctuations and prioritizes legs with more significant amplitude.
The indicator distinguishes between currently active zones and historical zones.
EvoORZ also allows users to customize:
the colors of bullish and bearish zones;
the transparency of active zones;
the transparency of historical zones;
the text displayed inside the zones;
the label size;
the visible timeframes;
the sensitivity of swing detection;
alerts triggered when a new zone is created or when price first interacts with a zone.
Important
EvoORZ is primarily a market-context tool.
A retracement zone does not, by itself, constitute a buy or sell signal. It should be analyzed in conjunction with market structure, the broader trend, liquidity, volatility, volume, and the other elements included in your trading plan.
Zones derived from higher timeframes can be used to establish the broader market context, while lower-timeframe zones may help refine trade execution.
This indicator does not predict future market movements and does not guarantee that price will react to any displayed zone. It should be used as an analytical aid and not as a standalone trading system.
Catatan Rilis
New UpdateThis new version primarily improves zone readability, management, and tracking.
Key improvements include:
Much clearer statuses: BULLISH, BEARISH, TESTED, UNTESTED, FLIP, and INVALIDATED.
Zones automatically update based on market reactions.
Improved management of historical and overlapping zones.
A new filter that displays only the major zones.
Faster identification of the most significant ORZs.
More customization options for colors, text, and opacity.
A cleaner, more readable, and user-friendly display.
The objective remains the same: to quickly identify key retracement zones with a clearer and more precise reading.
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, pembuat skrip ini telah menjadikannya sebagai sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Salut untuk penulisnya! Meskipun Anda dapat menggunakannya secara gratis, perlu diingat bahwa penerbitan ulang kode ini tunduk pada Tata Tertib kami.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, pembuat skrip ini telah menjadikannya sebagai sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Salut untuk penulisnya! Meskipun Anda dapat menggunakannya secara gratis, perlu diingat bahwa penerbitan ulang kode ini tunduk pada Tata Tertib kami.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.