Viru Trend Confirmation
Viru Trend Confirmation combines ATR-filtered HEMA direction, oscillator-based momentum confirmation, and a candle-breakout entry condition.
The indicator separates a potential setup from a confirmed signal. Agreement between trend and momentum arms a setup; price must then confirm the direction before a BUY or SELL appears.
HOW SIGNALS WORK
BUY:
• HEMA direction and the momentum oscillator become bullish.
• The setup candle’s high and low are recorded and remain fixed.
• A subsequent candle must close above the setup high within the confirmation window.
• Bullish agreement must remain intact, and price must not breach the setup low.
SELL:
• HEMA direction and the momentum oscillator become bearish.
• The setup candle’s high and low are recorded and remain fixed.
• A subsequent candle must close below the setup low within the confirmation window.
• Bearish agreement must remain intact, and price must not breach the setup high.
The default confirmation window is three candles after the setup candle. The setup candle cannot generate its own entry signal.
SETUP MANAGEMENT
A pending setup is cancelled when agreement breaks, the opposite setup extreme is breached, or the confirmation window expires. When invalidation and breakout occur on the same candle, invalidation takes priority.
Each fresh agreement creates one setup. After confirmation, cancellation, or expiry, a new agreement is required to arm another setup. BUY and SELL signals are not forced to alternate.
DISPLAY AND SETTINGS
• HEMA trend line on the price chart.
• Optional pending setup high and low.
• Optional setup markers and candle coloring.
• Confirmed BUY and SELL labels.
• Dashboard showing trend, momentum, pending setup, breakout level, and last event.
• Adjustable trend, ATR, oscillator, and confirmation-window settings.
The lower pane displays elapsed oscillator-regime duration and historical duration averages with standard-deviation levels. Bar height represents duration—not momentum strength or a verified probability of reversal. These duration statistics do not control entries.
ALERTS AND LIMITATIONS
Setup decisions and signals are evaluated on closed candles. The HEMA line can fluctuate while the current candle is open. Select “Once Per Bar Close” when creating alerts.
This is an indicator, not an automated trading strategy. It does not manage positions, stop losses, targets, or position sizing. Breakout confirmation can delay entries and miss moves; sideways markets can still produce unsuccessful signals. Performance has not been established through a validated backtest.
CREDITS AND MODIFICATIONS
The ATR HEMA implementation is derived from “ATR HEMA [SeerQuant]” by SeerQuant.
The oscillator implementation is derived from “Trend Reversal Probability [AlgoAlpha]” by AlgoAlpha.
The combined version was developed for Virendra Pandey | Codeviser. Added functionality includes combined-direction setup detection, frozen setup-candle levels, subsequent-candle breakout confirmation, setup expiry and invalidation, duplicate-signal control, alerts, and the branded dashboard.
The original authors retain credit for their respective implementations. Source code is provided under the Mozilla Public License 2.0:
mozilla.org/MPL/2.0/
For educational and analytical use. No signal guarantees a profitable trade.
The indicator separates a potential setup from a confirmed signal. Agreement between trend and momentum arms a setup; price must then confirm the direction before a BUY or SELL appears.
HOW SIGNALS WORK
BUY:
• HEMA direction and the momentum oscillator become bullish.
• The setup candle’s high and low are recorded and remain fixed.
• A subsequent candle must close above the setup high within the confirmation window.
• Bullish agreement must remain intact, and price must not breach the setup low.
SELL:
• HEMA direction and the momentum oscillator become bearish.
• The setup candle’s high and low are recorded and remain fixed.
• A subsequent candle must close below the setup low within the confirmation window.
• Bearish agreement must remain intact, and price must not breach the setup high.
The default confirmation window is three candles after the setup candle. The setup candle cannot generate its own entry signal.
SETUP MANAGEMENT
A pending setup is cancelled when agreement breaks, the opposite setup extreme is breached, or the confirmation window expires. When invalidation and breakout occur on the same candle, invalidation takes priority.
Each fresh agreement creates one setup. After confirmation, cancellation, or expiry, a new agreement is required to arm another setup. BUY and SELL signals are not forced to alternate.
DISPLAY AND SETTINGS
• HEMA trend line on the price chart.
• Optional pending setup high and low.
• Optional setup markers and candle coloring.
• Confirmed BUY and SELL labels.
• Dashboard showing trend, momentum, pending setup, breakout level, and last event.
• Adjustable trend, ATR, oscillator, and confirmation-window settings.
The lower pane displays elapsed oscillator-regime duration and historical duration averages with standard-deviation levels. Bar height represents duration—not momentum strength or a verified probability of reversal. These duration statistics do not control entries.
ALERTS AND LIMITATIONS
Setup decisions and signals are evaluated on closed candles. The HEMA line can fluctuate while the current candle is open. Select “Once Per Bar Close” when creating alerts.
This is an indicator, not an automated trading strategy. It does not manage positions, stop losses, targets, or position sizing. Breakout confirmation can delay entries and miss moves; sideways markets can still produce unsuccessful signals. Performance has not been established through a validated backtest.
CREDITS AND MODIFICATIONS
The ATR HEMA implementation is derived from “ATR HEMA [SeerQuant]” by SeerQuant.
The oscillator implementation is derived from “Trend Reversal Probability [AlgoAlpha]” by AlgoAlpha.
The combined version was developed for Virendra Pandey | Codeviser. Added functionality includes combined-direction setup detection, frozen setup-candle levels, subsequent-candle breakout confirmation, setup expiry and invalidation, duplicate-signal control, alerts, and the branded dashboard.
The original authors retain credit for their respective implementations. Source code is provided under the Mozilla Public License 2.0:
mozilla.org/MPL/2.0/
For educational and analytical use. No signal guarantees a profitable trade.
Telegram: t.me/Virendrapandey81
Website: vpcapitalresearch.com
Follow us on Twitter: twitter.com/Virupandey81
YouTube: youtube.com/@codeviser
Website: vpcapitalresearch.com
Follow us on Twitter: twitter.com/Virupandey81
YouTube: youtube.com/@codeviser
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。
Telegram: t.me/Virendrapandey81
Website: vpcapitalresearch.com
Follow us on Twitter: twitter.com/Virupandey81
YouTube: youtube.com/@codeviser
Website: vpcapitalresearch.com
Follow us on Twitter: twitter.com/Virupandey81
YouTube: youtube.com/@codeviser
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。