OPEN-SOURCE SCRIPT
Updated SVRO + 2A Setup Scanner
Step 1 — Your Daily Workflow
Glance at the info table (top right) first — it tells you instantly where each stock stands
You're looking for stocks where a phase is ACTIVE
You can change mods between SVRO(VCP) or Reversal/Pullbacks or Both.
Step 2 — Reading the Background Colors
🔵 Blue tint on chart = SVRO contraction building
The stock had a big prior run, a Purple Dot institutional move, and is now quietly coiling
This is your "put on watchlist and watch daily" signal
Don't enter yet — wait for the green triangle
🟠 Orange tint = 2A pullback in progress
Uptrend is intact, stock is pulling back toward 21 EMA, volume drying up
Same thing — watchlist mode, not entry mode yet
Step 3 — The Green Triangle = Entry Signal
This is the "act now" signal. But check which label it carries:
SVRO ENTRY = Strong Start breakout out of contraction. Enter within first 30 mins of market open
2A-SS = Strong Start bounce off 21 EMA. Same — early morning entry
2A-SV = Stop Volume absorption bar. Enter on next day's open if structure holds
2A-CV = Climax Volume exhaustion. More aggressive — enter same day if market confirms
Step 4 — Stop Loss
The red dashed line on the chart is your stop. It auto-calculates as:
SVRO = 1% below entry
2A = low of the pullback candle
If price closes below it — exit, no argument.
Step 5 — Setting Up Alerts
This is the most powerful part for daily scanning:
Go to Alerts (clock icon) → Create Alert
Under Condition → select "Manas Arora Setups"
You'll see all 12 alert conditions listed
Set "ANY Setup Entry Signal" first — this fires whenever either setup triggers
Then separately set "SVRO Contraction Building" and "2A Pullback Phase Started" — so you get early warning before entry
Set these on every stock in your watchlist. TV Essential allows multiple alerts.
Step 6 — What to Ignore
Green triangle on a stock with no prior uptrend (table shows uptrend % red) → skip
Green triangle but volume not confirming → be cautious
2A-CV signal on a stock that's been falling for weeks → this is the Falling Knife setup, harder to trade, skip it for now
Practical tip to start — load the script on 5-10 stocks you already know well rather than random scanning. The signals will make more intuitive sense on familiar charts first.
Glance at the info table (top right) first — it tells you instantly where each stock stands
You're looking for stocks where a phase is ACTIVE
You can change mods between SVRO(VCP) or Reversal/Pullbacks or Both.
Step 2 — Reading the Background Colors
🔵 Blue tint on chart = SVRO contraction building
The stock had a big prior run, a Purple Dot institutional move, and is now quietly coiling
This is your "put on watchlist and watch daily" signal
Don't enter yet — wait for the green triangle
🟠 Orange tint = 2A pullback in progress
Uptrend is intact, stock is pulling back toward 21 EMA, volume drying up
Same thing — watchlist mode, not entry mode yet
Step 3 — The Green Triangle = Entry Signal
This is the "act now" signal. But check which label it carries:
SVRO ENTRY = Strong Start breakout out of contraction. Enter within first 30 mins of market open
2A-SS = Strong Start bounce off 21 EMA. Same — early morning entry
2A-SV = Stop Volume absorption bar. Enter on next day's open if structure holds
2A-CV = Climax Volume exhaustion. More aggressive — enter same day if market confirms
Step 4 — Stop Loss
The red dashed line on the chart is your stop. It auto-calculates as:
SVRO = 1% below entry
2A = low of the pullback candle
If price closes below it — exit, no argument.
Step 5 — Setting Up Alerts
This is the most powerful part for daily scanning:
Go to Alerts (clock icon) → Create Alert
Under Condition → select "Manas Arora Setups"
You'll see all 12 alert conditions listed
Set "ANY Setup Entry Signal" first — this fires whenever either setup triggers
Then separately set "SVRO Contraction Building" and "2A Pullback Phase Started" — so you get early warning before entry
Set these on every stock in your watchlist. TV Essential allows multiple alerts.
Step 6 — What to Ignore
Green triangle on a stock with no prior uptrend (table shows uptrend % red) → skip
Green triangle but volume not confirming → be cautious
2A-CV signal on a stock that's been falling for weeks → this is the Falling Knife setup, harder to trade, skip it for now
Practical tip to start — load the script on 5-10 stocks you already know well rather than random scanning. The signals will make more intuitive sense on familiar charts first.
Release Notes
Edited fine detailsRelease Notes
Updated info box for better clarityRelease Notes
Fixed alerts issueRelease Notes
- Fixed some errors
- Added Insider Bar
- Added Multiple EMA's
Release Notes
Added Strong Start and Trend Filter.- Checks if the selected stock is displaying a strong start, defending the recent low and volume improving.
- Checks for EMA trend 20 > 50 > 200
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.