SwingTrades-Long-30Mins

// =====================================================================================
// SwingTrades-Long-30Mins — WHAT THIS INDICATOR DOES AND HOW (read this first)
// =====================================================================================
// THIS IS HALF OF A PAIR
// SwingTrades-Long used to be one script covering 4 categories (MT, 3Q, TR, R). It
// has been split into two independent indicators so each runs on the timeframe that
// actually fits its checks:
// - SwingTrades-Long-Daily (companion script) — Category 1 (MT) + Category 2 (3Q).
// Runs on the DAILY chart. Answers: "is this stock structurally set up to buy,
// and is the trade worth the reward vs. risk?" Updates once per day.
// - SwingTrades-Long-30Mins (THIS script) — Category 3 (TR) + Category 4 (R).
// Runs on the 30-MINUTE chart. Answers: "right now, intraday, is this a safe
// moment to pull the trigger, and how big should the position be?" Updates
// every 30 minutes throughout the session.
// The two scripts are fully independent — each computes and displays its OWN 0-10
// score. There is no shared/combined score across the pair. Run both side by side
// (Daily chart + 30-min chart): use Daily to decide whether to even be watching a
// stock, and this 30-Min script to decide whether right now is the moment to act.
//
// PURPOSE OF THIS SCRIPT
// Scores a stock 0-10 on: (3) Trend Reading — is the stock overextended, and is the
// long bias ("innocent") still intact — and (4) Risk — does the reward-vs-risk still
// hold up live, is there room left to run today, and how big should the position be.
//
// WHERE DATA COMES FROM / DESIGN NOTE
// - Runs on a 30-MINUTE chart. Native 30-min `close` is used everywhere as the
// "current live price" — this is what makes the dashboard refresh in real time
// throughout the session instead of only once at the daily close.
// - Most of the actual THRESHOLDS (5-Day SMA, 20/50-Day SMA trend, ATR, prior-day
// R2 pivot, N-bar daily high for target, daily swing-low for stop) are still
// DAILY concepts, so they are pulled from the Daily timeframe in a single bundled
// request.security() call and reused throughout.
// - VWAP and "minutes since the session open" are computed natively/from real time
// since this script already runs on an intraday chart — no extra security() pull
// needed for those two.
// - The "minutes since open" and live-price checks are only meaningful while the
// market is open and bars are updating in real time; on closed historical bars
// they reflect that bar's snapshot, not true intrabar behavior.
//
// STEP-BY-STEP LOGIC
// STEP A — Inputs, grouped by category (plus a "Daily Reference" group for the
// lengths/lookbacks used to pull Daily-timeframe data).
// STEP B — One bundled request.security() call to the Daily timeframe for every
// daily-scale value this script needs (5/20/50 SMA + slopes, ATR, prior-day
// H/L/C, N-bar high, swing-low, today's open, close N days ago (extension
// check), today's running high/low, day-start timestamp).
// STEP C — Native intraday values: VWAP (resets each session) and "current price"
// (= native 30-min close).
// STEP D — 3. TREND READING (TR) — 5 scored checks + 2 unscored caution flags:
// a. Not overextended vs the Daily 5-SMA (distance measured in daily ATRs),
// also check to make sure price > Daily 5-SMA
// b. Not overextended vs summed daily true range over the last 2-5 days, to
// clarify: if price went too far in the last 2-3 days when compared to
// the summed ATR for those days, then avoid — measured as the NET price
// move over the last `extDays` days against that period's ATR budget
// c. Not too close to / above the prior day's classic R2 pivot
// d. Gap/VWAP OK — no gap today, OR price has returned near session VWAP
// after a gap
// e. Innocent bias — live price > daily 5-SMA and daily 20 & 50 SMA rising
// f. [flag, not scored] Guilty bias — live price < daily 5-SMA and daily
// 20 & 50 SMA both declining. VETOES the entire TR score to 0.
// g. [flag, not scored] First-5-minutes-after-open — separate WATCH
// warning, not folded into the score (temporary, not structural).
// STEP E — 4. RISK (R) — 3 checks + sizing outputs, category score /10:
// a. RvR >= minimum, computed live (daily N-bar high target vs. a stop =
// the wider of a daily structural swing-low and a daily-ATR-multiple
// stop, measured against the current live price)
// b. Room left in today's ATR range (today's running high-low, so far, as
// % of daily ATR)
// c. Adequate stop distance — stop is placed at least N daily ATRs away
// (enforced by construction, shown as an explicit check)
// + Suggested share size, $ position value, and $ stop level, sized off
// account equity and max risk % per trade (informational, not scored)
// STEP F — Overall score: TR and Risk category scores (0-10 each) are weighted
// (wTR/wR, auto-normalized) into one 0-10 score. There is no broader-market
// cap here — that safeguard lives in the companion Daily script.
// STEP G — Plots native VWAP and the pulled Daily 5-SMA.
// STEP H — Draws three configurable horizontal lines (+ optional price labels)
// projecting the current potential trade plan to the right of the chart:
// Entry (live 30-min close), Exit/Target (dTargetHigh from Step B), and
// Stop (stopLevel from Step E). Color, width, style, labels, and how far
// back the visible line segment starts are all inputs.
// STEP I — Builds the dashboard table.
// =====================================================================================

Script open-source

Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.

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Script open-source

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