OPEN-SOURCE SCRIPT
ChachinBot SP&500 V3.5
OVERVIEW
SPX500 SmartSignal Pro is an intraday signal and trade-management tool built specifically for the S&P 500 index (reference: OANDA:SPX500USD) on the 5-minute chart. It only prints a long or short signal when trend, momentum, trend-strength and participation all agree, and then lays out ATR-based stop/target levels and a risk-based position size for the trade.
WHY SO MANY FILTERS — AND HOW THEY WORK TOGETHER
This is not a pile of indicators stacked for the sake of it. Each filter exists to block one specific way a trade goes wrong, and a signal appears only when all of them line up:
Triple EMA (21 / 50 / 200) — direction. The 200 EMA sets the macro bias, the 50 the intermediate trend, the 21 the immediate momentum. Longs are only considered when the EMAs are stacked bullishly and shorts when stacked bearishly, so the tool never fights the prevailing trend.
RSI + MACD — momentum confirmation. Direction alone doesn't tell you whether there's fuel behind the move. RSI checks that immediate momentum isn't already exhausted, and MACD confirms momentum is turning or continuing in the signal's direction. Using two momentum tools from different families filters out single-indicator false reads.
ADX — trend strength (the key filter for an index). The S&P 500 spends much of the intraday session chopping sideways, where EMAs can still look stacked and momentum can flicker with no real trend behind it. ADX gates this out: signals are blocked when ADX is below threshold, and the background turns yellow as a no-trade / chop warning. Because index moves come in shorter bursts than forex, the threshold here is 20 — deliberately lower than the 25 used on major FX pairs and gold.
Volume filter — participation. Confirms the move has genuine participation behind it rather than being a thin, low-conviction drift.
ATR — volatility-adaptive risk. Stop-loss and three take-profits (TP1 / TP2 / TP3) are set as ATR multiples instead of fixed points, so they automatically widen in a fast session and tighten in a quiet one.
Put together, it is a confluence system: trend (EMAs) + momentum (RSI/MACD) + strength (ADX) + participation (volume) must all align before a signal prints, and ATR + reward-to-risk + position sizing handle the management once it does. Each layer removes a failure mode the others can't see on their own.
WHAT YOU SEE ON THE CHART / DASHBOARD
Long / short signal markers, printed only when every condition aligns.
ATR-based SL and TP1 / TP2 / TP3 levels, designed for partial closes (e.g. scaling out at each target and trailing the rest).
A live ADX monitor so current trend strength is always visible, plus the yellow chop-warning background.
A colour-coded reward-to-risk readout: green when R:R ≥ 2.0, orange ≥ 1.5, red < 1.5 — so a setup can be judged at a glance.
A position-size calculator: enter your account balance and risk %, and it returns the size for the trade based on the ATR stop distance. Useful for keeping risk consistent, including on funded / prop-firm accounts with fixed risk rules.
HOW TO USE IT
Apply it to the S&P 500 (OANDA:SPX500USD or equivalent) on the 5-minute chart, during the US cash session.
Wait for a signal — by design it will not fire in chop (yellow background = stand aside).
Check the R:R readout and favour setups showing green or orange.
Manage with the ATR SL and TP1/TP2/TP3 (for example, move the stop to breakeven at TP1).
Size the trade with the built-in calculator according to your own risk rules.
SETTINGS
EMA lengths, RSI and MACD parameters, the ADX threshold, the volume filter, the ATR multiples for SL/TP, session hours, and the account balance / risk % for the calculator are all configurable.
This is an educational tool. The signals are potential setups for your own analysis, not automatic buy/sell instructions and not financial advice. The past behaviour of any setup does not guarantee future results.
SPX500 SmartSignal Pro is an intraday signal and trade-management tool built specifically for the S&P 500 index (reference: OANDA:SPX500USD) on the 5-minute chart. It only prints a long or short signal when trend, momentum, trend-strength and participation all agree, and then lays out ATR-based stop/target levels and a risk-based position size for the trade.
WHY SO MANY FILTERS — AND HOW THEY WORK TOGETHER
This is not a pile of indicators stacked for the sake of it. Each filter exists to block one specific way a trade goes wrong, and a signal appears only when all of them line up:
Triple EMA (21 / 50 / 200) — direction. The 200 EMA sets the macro bias, the 50 the intermediate trend, the 21 the immediate momentum. Longs are only considered when the EMAs are stacked bullishly and shorts when stacked bearishly, so the tool never fights the prevailing trend.
RSI + MACD — momentum confirmation. Direction alone doesn't tell you whether there's fuel behind the move. RSI checks that immediate momentum isn't already exhausted, and MACD confirms momentum is turning or continuing in the signal's direction. Using two momentum tools from different families filters out single-indicator false reads.
ADX — trend strength (the key filter for an index). The S&P 500 spends much of the intraday session chopping sideways, where EMAs can still look stacked and momentum can flicker with no real trend behind it. ADX gates this out: signals are blocked when ADX is below threshold, and the background turns yellow as a no-trade / chop warning. Because index moves come in shorter bursts than forex, the threshold here is 20 — deliberately lower than the 25 used on major FX pairs and gold.
Volume filter — participation. Confirms the move has genuine participation behind it rather than being a thin, low-conviction drift.
ATR — volatility-adaptive risk. Stop-loss and three take-profits (TP1 / TP2 / TP3) are set as ATR multiples instead of fixed points, so they automatically widen in a fast session and tighten in a quiet one.
Put together, it is a confluence system: trend (EMAs) + momentum (RSI/MACD) + strength (ADX) + participation (volume) must all align before a signal prints, and ATR + reward-to-risk + position sizing handle the management once it does. Each layer removes a failure mode the others can't see on their own.
WHAT YOU SEE ON THE CHART / DASHBOARD
Long / short signal markers, printed only when every condition aligns.
ATR-based SL and TP1 / TP2 / TP3 levels, designed for partial closes (e.g. scaling out at each target and trailing the rest).
A live ADX monitor so current trend strength is always visible, plus the yellow chop-warning background.
A colour-coded reward-to-risk readout: green when R:R ≥ 2.0, orange ≥ 1.5, red < 1.5 — so a setup can be judged at a glance.
A position-size calculator: enter your account balance and risk %, and it returns the size for the trade based on the ATR stop distance. Useful for keeping risk consistent, including on funded / prop-firm accounts with fixed risk rules.
HOW TO USE IT
Apply it to the S&P 500 (OANDA:SPX500USD or equivalent) on the 5-minute chart, during the US cash session.
Wait for a signal — by design it will not fire in chop (yellow background = stand aside).
Check the R:R readout and favour setups showing green or orange.
Manage with the ATR SL and TP1/TP2/TP3 (for example, move the stop to breakeven at TP1).
Size the trade with the built-in calculator according to your own risk rules.
SETTINGS
EMA lengths, RSI and MACD parameters, the ADX threshold, the volume filter, the ATR multiples for SL/TP, session hours, and the account balance / risk % for the calculator are all configurable.
This is an educational tool. The signals are potential setups for your own analysis, not automatic buy/sell instructions and not financial advice. The past behaviour of any setup does not guarantee future results.
Скрипт с открытым кодом
В истинном духе TradingView, создатель этого скрипта сделал его открытым исходным кодом, чтобы трейдеры могли проверить и убедиться в его функциональности. Браво автору! Вы можете использовать его бесплатно, но помните, что перепубликация кода подчиняется нашим Правилам поведения.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
Скрипт с открытым кодом
В истинном духе TradingView, создатель этого скрипта сделал его открытым исходным кодом, чтобы трейдеры могли проверить и убедиться в его функциональности. Браво автору! Вы можете использовать его бесплатно, но помните, что перепубликация кода подчиняется нашим Правилам поведения.
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.