OPEN-SOURCE SCRIPT
SuperTrend Zone Rejection [STRZ]
CONCEPT -
This indicator identifies trend-continuation setups by combining the Super Trend with dynamic Average True Range (ATR) value zones. It highlights specific price action behaviour's—specifically wick rejections and momentum closes—that occur during pullbacks into the trend baseline.
HOW IT WORKS -
The script operates on three logic gates:
>> Trend Filter: Uses a standard Super Trend (Factor 3, Period 10 default) to define market direction.
>> Dynamic Zones: Projects a volatility-based zone (default 2.0x ATR) above or below the Super Trend line to define a valid pullback area.
>> Signal Detection: Identifies specific candle geometries occurring within these zones.
>> Rejection: Candles with significant wicks testing the zone support/resistance.
>> Momentum: Candles that open within the zone and close in the upper/lower quartile of their range.
FEATURES -
>> Dynamic Channel: Visualizes the active buy/sell zone using a continuous, non-repainting box.
>> Volatile Filtering: Filters out low-volatility candles (doji's/noise) based on minimum ATR size.
>> Visuals: Color-coded trend visualization with distinct signal markers for qualified entries.
SETTINGS -
>> Super Trend: Adjustable Factor and ATR Period.
>> Zone Multiplier: Controls the width of the pullback zone relative to ATR.
>> Visuals: Customizable colours for zones and signals to fit light/dark themes.
This indicator identifies trend-continuation setups by combining the Super Trend with dynamic Average True Range (ATR) value zones. It highlights specific price action behaviour's—specifically wick rejections and momentum closes—that occur during pullbacks into the trend baseline.
HOW IT WORKS -
The script operates on three logic gates:
>> Trend Filter: Uses a standard Super Trend (Factor 3, Period 10 default) to define market direction.
>> Dynamic Zones: Projects a volatility-based zone (default 2.0x ATR) above or below the Super Trend line to define a valid pullback area.
>> Signal Detection: Identifies specific candle geometries occurring within these zones.
>> Rejection: Candles with significant wicks testing the zone support/resistance.
>> Momentum: Candles that open within the zone and close in the upper/lower quartile of their range.
FEATURES -
>> Dynamic Channel: Visualizes the active buy/sell zone using a continuous, non-repainting box.
>> Volatile Filtering: Filters out low-volatility candles (doji's/noise) based on minimum ATR size.
>> Visuals: Color-coded trend visualization with distinct signal markers for qualified entries.
SETTINGS -
>> Super Trend: Adjustable Factor and ATR Period.
>> Zone Multiplier: Controls the width of the pullback zone relative to ATR.
>> Visuals: Customizable colours for zones and signals to fit light/dark themes.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no pretenden ser, ni constituyen, asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no pretenden ser, ni constituyen, asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.