OPEN-SOURCE SCRIPT
Updated Precision Confluence Monitor
Precision Confluence Monitor (PCM)
PCM tracks your Precision SPX levels and confirms each one against live NDX confluence before flagging an entry. You paste two comma-separated strings — your SPX levels and the matching NDX levels — and the script pairs them by position, then watches price action against both indices in real time.
How it works
The core logic is a two-candle confirmation rule. Candle 1 (C1) fires when price closes on the same side of a level on both SPX and NDX simultaneously — calls if both close above, puts if both close below. Candle 2 then confirms the move and triggers the actual ENTRY signal. This dual-index requirement filters out single-market fakeouts where SPX breaks a level but NDX doesn't follow.
Level categories (by index position in your string):
0–5: Daily levels
6–7: Range levels
8–9: Weekly levels
10–11: Monthly levels
Each type is color-coded on the chart with lines, zones, and labels showing the level price, its NDX pair, and live distance in points.
Built-in protections
Fail counter: every time a level is tested and rejected, it's tracked. After 2+ failures the level is flagged AVOID — the script will not give an entry there, keeping you out of chop.
SMA confirmation filter (optional): requires both SPX price and NDX to be on the correct side of the Fast/Slow SMAs before allowing a signal.
Volume filter (optional): requires ≥1.5× average volume to confirm a genuine break.
Display
A live status table summarizes every active level: SPX price, NDX pair, type, distance, whether NDX confirms, current signal state (Watch / C1 / Entry / Avoid), and fail count. On-chart labels and alerts (C1, Entry, and Avoid) keep you updated without watching the table.
Inputs reset daily so each session starts clean.
This script is a decision-support tool, not financial advice. Always manage your own risk.
PCM tracks your Precision SPX levels and confirms each one against live NDX confluence before flagging an entry. You paste two comma-separated strings — your SPX levels and the matching NDX levels — and the script pairs them by position, then watches price action against both indices in real time.
How it works
The core logic is a two-candle confirmation rule. Candle 1 (C1) fires when price closes on the same side of a level on both SPX and NDX simultaneously — calls if both close above, puts if both close below. Candle 2 then confirms the move and triggers the actual ENTRY signal. This dual-index requirement filters out single-market fakeouts where SPX breaks a level but NDX doesn't follow.
Level categories (by index position in your string):
0–5: Daily levels
6–7: Range levels
8–9: Weekly levels
10–11: Monthly levels
Each type is color-coded on the chart with lines, zones, and labels showing the level price, its NDX pair, and live distance in points.
Built-in protections
Fail counter: every time a level is tested and rejected, it's tracked. After 2+ failures the level is flagged AVOID — the script will not give an entry there, keeping you out of chop.
SMA confirmation filter (optional): requires both SPX price and NDX to be on the correct side of the Fast/Slow SMAs before allowing a signal.
Volume filter (optional): requires ≥1.5× average volume to confirm a genuine break.
Display
A live status table summarizes every active level: SPX price, NDX pair, type, distance, whether NDX confirms, current signal state (Watch / C1 / Entry / Avoid), and fail count. On-chart labels and alerts (C1, Entry, and Avoid) keep you updated without watching the table.
Inputs reset daily so each session starts clean.
This script is a decision-support tool, not financial advice. Always manage your own risk.
Release Notes
Table highlighting: rows within 10pts of current price now show a gold background with larger text and a arrow marker for quick visual identification.Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.