OPEN-SOURCE SCRIPT
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AKJ Strategy — Trend & Pullback Indicator
This indicator is based on the AKJ Swing Trading Strategy and combines Bollinger Bands (10/1) with Williams %R (4) across two timeframes. It is designed as a visual screener — the final trading decision always requires your own analysis.
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BACKGROUND COLORS (Weekly Chart Status)
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🟢 GREEN — Weekly Long active
The weekly chart has closed above the upper Bollinger Band at least 2 consecutive times. The background remains green until a counter-signal appears.
🔴 RED — Weekly Short active
The weekly chart has closed below the lower Bollinger Band at least 2 consecutive times.
🔵 BLUE — Warning (possible trend reversal)
The current week closes for the first time against the existing weekly direction (1x above BB during a Short, 1x below BB during a Long). The signal is still active — proceed with caution.
⬜ NEUTRAL — No weekly setup present.
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CHART SIGNALS
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▲ LONG Pullback (green arrow)
Appears when: Weekly Long active + Daily closed 2x above BB + Williams %R ≤ -80% + current candle is a down candle (Close < Open). The arrow appears on every qualifying candle as long as the setup remains active — the entry stop is trailed accordingly.
▼ SHORT Pullback (red arrow)
Appears when: Weekly Short active + Daily closed 2x below BB + Williams %R ≥ -20% + current candle is an up candle (Close > Open). Same principle for trailing the entry.
✕ Signal broken (orange cross)
Appears once when the daily chart closes 2 consecutive times against the weekly direction. The daily setup is then invalid. It reactivates automatically once the daily closes 2x again in the direction of the weekly trend.
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INFO BOX (top right)
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Weekly — Current weekly chart status (LONG ✓ / SHORT ✓ / NEUTRAL)
Daily Signal — Whether the daily setup is active (LONG active / SHORT active / no setup)
Williams %R — Current %R value, color-coded when inside the trigger zone
Pullback — Whether a pullback signal is present on the current candle
Setup ▲▼ — Summary row: lights up green/red when all conditions for a trade are met and an entry would be valid. Designed for fast screening.
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SCREENER USAGE
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This indicator is designed as a first filter when screening stocks. The Setup row in the info box shows at a glance whether a potential trade is present. A full analysis — including the higher timeframe monthly trend, upcoming earnings, and overall market conditions — is always required before entering any trade.
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SETTINGS
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BB Length: 10 (default)
BB Standard Deviation: 1.0 (default)
Williams %R Length: 4 (default)
Oversold Level: -80 (Long trigger)
Overbought Level: -20 (Short trigger)
All parameters are adjustable.
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DISCLAIMER
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This indicator is for educational purposes only. It does not constitute financial or investment advice. Trading involves substantial risk of loss. Past signals are no guarantee of future results. Always trade at your own risk.
This indicator is based on the AKJ Swing Trading Strategy and combines Bollinger Bands (10/1) with Williams %R (4) across two timeframes. It is designed as a visual screener — the final trading decision always requires your own analysis.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
BACKGROUND COLORS (Weekly Chart Status)
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
🟢 GREEN — Weekly Long active
The weekly chart has closed above the upper Bollinger Band at least 2 consecutive times. The background remains green until a counter-signal appears.
🔴 RED — Weekly Short active
The weekly chart has closed below the lower Bollinger Band at least 2 consecutive times.
🔵 BLUE — Warning (possible trend reversal)
The current week closes for the first time against the existing weekly direction (1x above BB during a Short, 1x below BB during a Long). The signal is still active — proceed with caution.
⬜ NEUTRAL — No weekly setup present.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
CHART SIGNALS
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
▲ LONG Pullback (green arrow)
Appears when: Weekly Long active + Daily closed 2x above BB + Williams %R ≤ -80% + current candle is a down candle (Close < Open). The arrow appears on every qualifying candle as long as the setup remains active — the entry stop is trailed accordingly.
▼ SHORT Pullback (red arrow)
Appears when: Weekly Short active + Daily closed 2x below BB + Williams %R ≥ -20% + current candle is an up candle (Close > Open). Same principle for trailing the entry.
✕ Signal broken (orange cross)
Appears once when the daily chart closes 2 consecutive times against the weekly direction. The daily setup is then invalid. It reactivates automatically once the daily closes 2x again in the direction of the weekly trend.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
INFO BOX (top right)
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
Weekly — Current weekly chart status (LONG ✓ / SHORT ✓ / NEUTRAL)
Daily Signal — Whether the daily setup is active (LONG active / SHORT active / no setup)
Williams %R — Current %R value, color-coded when inside the trigger zone
Pullback — Whether a pullback signal is present on the current candle
Setup ▲▼ — Summary row: lights up green/red when all conditions for a trade are met and an entry would be valid. Designed for fast screening.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
SCREENER USAGE
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
This indicator is designed as a first filter when screening stocks. The Setup row in the info box shows at a glance whether a potential trade is present. A full analysis — including the higher timeframe monthly trend, upcoming earnings, and overall market conditions — is always required before entering any trade.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
SETTINGS
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
BB Length: 10 (default)
BB Standard Deviation: 1.0 (default)
Williams %R Length: 4 (default)
Oversold Level: -80 (Long trigger)
Overbought Level: -20 (Short trigger)
All parameters are adjustable.
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
DISCLAIMER
━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━
This indicator is for educational purposes only. It does not constitute financial or investment advice. Trading involves substantial risk of loss. Past signals are no guarantee of future results. Always trade at your own risk.
開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。
開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。