OPEN-SOURCE SCRIPT
Follow Trend Level 1 [ SFI ]
This indicator is designed to help traders identify trend direction and optimal pullback areas using a volatility-adjusted framework.
Instead of relying on fixed price distances, this script dynamically adapts to market conditions by measuring the current price range using smoothed volatility. This allows it to highlight potential entry zones that are aligned with the ongoing trend.
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CORE CONCEPT
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The indicator combines two main components:
1. Trend Engine
A dual EMA-based structure defines the trend direction. A dynamic level is maintained to track whether the market is in a bullish or bearish state. This creates a smooth trend-following visual that adapts to changing conditions.
2. Dynamic Seed Zones
The script calculates the current market range using volatility. Based on that range, it highlights specific pullback areas:
• Aggressive Zone (50%–65% of range)
• Safe Zone (65%–77% of range)
These zones represent areas where price has retraced deeply within the current trend.
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HOW IT WORKS
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• In an uptrend:
Zones are projected from the lower boundary upward.
• In a downtrend:
Zones are projected from the upper boundary downward.
The zones adjust dynamically as volatility expands or contracts.
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HOW TO USE
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• Identify the trend direction using the color of the trend structure
• Wait for price to enter a highlighted zone
• Look for confirmation from your own trading strategy
This tool does not generate trading signals by itself. It is designed to assist traders in understanding market positioning and potential pullback areas.
━━━━━━━━━━━━━━━━━━
IMPORTANT NOTES
━━━━━━━━━━━━━━━━━━
• This script is not a trading system or financial advice
• It should be used alongside a well-defined strategy
• Market conditions can change rapidly, always manage risk accordingly
━━━━━━━━━━━━━━━━━━
This script focuses on clarity and adaptability, helping traders better understand where price is located within the current market structure.
Instead of relying on fixed price distances, this script dynamically adapts to market conditions by measuring the current price range using smoothed volatility. This allows it to highlight potential entry zones that are aligned with the ongoing trend.
━━━━━━━━━━━━━━━━━━
CORE CONCEPT
━━━━━━━━━━━━━━━━━━
The indicator combines two main components:
1. Trend Engine
A dual EMA-based structure defines the trend direction. A dynamic level is maintained to track whether the market is in a bullish or bearish state. This creates a smooth trend-following visual that adapts to changing conditions.
2. Dynamic Seed Zones
The script calculates the current market range using volatility. Based on that range, it highlights specific pullback areas:
• Aggressive Zone (50%–65% of range)
• Safe Zone (65%–77% of range)
These zones represent areas where price has retraced deeply within the current trend.
━━━━━━━━━━━━━━━━━━
HOW IT WORKS
━━━━━━━━━━━━━━━━━━
• In an uptrend:
Zones are projected from the lower boundary upward.
• In a downtrend:
Zones are projected from the upper boundary downward.
The zones adjust dynamically as volatility expands or contracts.
━━━━━━━━━━━━━━━━━━
HOW TO USE
━━━━━━━━━━━━━━━━━━
• Identify the trend direction using the color of the trend structure
• Wait for price to enter a highlighted zone
• Look for confirmation from your own trading strategy
This tool does not generate trading signals by itself. It is designed to assist traders in understanding market positioning and potential pullback areas.
━━━━━━━━━━━━━━━━━━
IMPORTANT NOTES
━━━━━━━━━━━━━━━━━━
• This script is not a trading system or financial advice
• It should be used alongside a well-defined strategy
• Market conditions can change rapidly, always manage risk accordingly
━━━━━━━━━━━━━━━━━━
This script focuses on clarity and adaptability, helping traders better understand where price is located within the current market structure.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.