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Red Light / Green Light
Red Light / Green Light (ATR Distribution & FTD Signals)
Pressing the gas when momentum favors you is easy, but the hard part is knowing when to hit the brakes before getting caught in a sharp distribution drop.
Red Light / Green Light is an overlay indicator designed to keep you on the right side of heavy market moves. It combines ATR-based volatility expansion on down days with Follow-Through Day (FTD) breakout logic to give clear visual entry and exit cues right on your chart.
How It Works
Red Light (Bearish Exit Signal): Triggers on down-bars where the body size expands beyond a customizable ATR threshold (default: 1.5x 10-period ATR). This flags heavy institutional selling or distribution before a deeper pullback unfolds.
Green Light (Bullish Entry Signal): Triggers on a custom Follow-Through Day setup requiring a minimum +1.5% single-day gain, higher volume than the prior bar, and structural price support off a 10-day lookback low.
Key Features & Customization
Custom Emojis or Text: Choose from preset emojis (e.g., 🍆 / ☠️, 🚀 / 💥) or type in your own custom text labels (e.g., "BUY", "SELL", "GTFO", "DONT BE A HERO").
Smart Wick Clearance: Uses ATR-based dynamic positioning so labels remain readable across all timeframes without crowding candle wicks.
Directional Arrows: Optional toggleable pointer arrows (↑ / ↓) pointing directly at signal candles.
Alert Ready: Includes native alertcondition triggers for both Red Light and Green Light signals so you can route them to webhooks, pop-ups, or SMS.
How to Use
1. Add to Chart: Works across standard timeframes (Daily recommended for standard swing trading logic).
2. Adjust Inputs: Fine-tune ATR length, percentage gain thresholds, or lookback periods in the settings menu to fit your asset class (Equities, Crypto, Futures).
3. Set Alerts: Create a TradingView alert selecting "Red Light Alert" or "Green Light Alert" for real-time notification.
Disclaimer: For educational and informational purposes only. Always manage risk and conduct your own analysis before entering any trade.
Pressing the gas when momentum favors you is easy, but the hard part is knowing when to hit the brakes before getting caught in a sharp distribution drop.
Red Light / Green Light is an overlay indicator designed to keep you on the right side of heavy market moves. It combines ATR-based volatility expansion on down days with Follow-Through Day (FTD) breakout logic to give clear visual entry and exit cues right on your chart.
How It Works
Red Light (Bearish Exit Signal): Triggers on down-bars where the body size expands beyond a customizable ATR threshold (default: 1.5x 10-period ATR). This flags heavy institutional selling or distribution before a deeper pullback unfolds.
Green Light (Bullish Entry Signal): Triggers on a custom Follow-Through Day setup requiring a minimum +1.5% single-day gain, higher volume than the prior bar, and structural price support off a 10-day lookback low.
Key Features & Customization
Custom Emojis or Text: Choose from preset emojis (e.g., 🍆 / ☠️, 🚀 / 💥) or type in your own custom text labels (e.g., "BUY", "SELL", "GTFO", "DONT BE A HERO").
Smart Wick Clearance: Uses ATR-based dynamic positioning so labels remain readable across all timeframes without crowding candle wicks.
Directional Arrows: Optional toggleable pointer arrows (↑ / ↓) pointing directly at signal candles.
Alert Ready: Includes native alertcondition triggers for both Red Light and Green Light signals so you can route them to webhooks, pop-ups, or SMS.
How to Use
1. Add to Chart: Works across standard timeframes (Daily recommended for standard swing trading logic).
2. Adjust Inputs: Fine-tune ATR length, percentage gain thresholds, or lookback periods in the settings menu to fit your asset class (Equities, Crypto, Futures).
3. Set Alerts: Create a TradingView alert selecting "Red Light Alert" or "Green Light Alert" for real-time notification.
Disclaimer: For educational and informational purposes only. Always manage risk and conduct your own analysis before entering any trade.
オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者はコードをオープンソースとして公開してくれました。トレーダーが内容を確認・検証できるようにという配慮です。作者に拍手を送りましょう！無料で利用できますが、コードの再公開はハウスルールに従う必要があります。
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。
オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者はコードをオープンソースとして公開してくれました。トレーダーが内容を確認・検証できるようにという配慮です。作者に拍手を送りましょう！無料で利用できますが、コードの再公開はハウスルールに従う必要があります。
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。