OPEN-SOURCE SCRIPT

DTM 444 BANDS ๐Ÿš€

52
DTM 444 BANDS ๐Ÿš€:
snapshot
The DTM 444 BANDS ๐Ÿš€ is a powerful, multi-purpose trading indicator combining Supertrend, Dynamic Band Levels, Breakout Signals, and Volume Confirmation to help traders identify high-probability trade setups across different timeframes.

๐Ÿ”ง Key Features
โœ… Multi-Timeframe Support

Analyze price action across any timeframe using the Timeframe input.

All band calculations (High, Low, Midline, and Supertrend) are pulled from a higher timeframe for clearer context.

โœ… Dynamic Bands Based on Supertrend

High Band: Rolling highest of Supertrend over hiLen period.

Low Band: Rolling lowest of Supertrend over loLen period.

Midline: Midpoint of the above.

Acts like dynamic support/resistance, ideal for trend-following and breakout strategies.

โœ… Dual Signal System

Breakout Signals (Buy and Sell): Triggered when price breaks the bands with volume confirmation.

Supertrend Crossover Signals (Buy1 and Sell1): Classic momentum entries with a confirmation twist.

Exit Signals: Optional take-profit/neutral indicators when price reverses.

โœ… Volume Confirmation Filter (Optional)

Only triggers signals if the volume exceeds its 20-period SMA.

Helps filter out false breakouts and weak trends in low-liquidity periods.

โœ… Visual Enhancements

Color-coded candles based on band positioning (e.g., red = weak, green = strong, etc.)

On-chart labels for each signal for quick reference.

Real-time Signal Dashboard using Pine Script tables showing:

Current signal

Volume filter status

Live volume vs volume SMA

๐Ÿงช Practical Use Cases

Trend Traders: Use the Supertrend cross and band breakouts to ride trends early.

Breakout Traders: Catch high-probability moves outside established ranges.

Swing Traders: Time entries and exits using color-coded bars and exit labels.

Volume-Sensitive Traders: Focus on trades with strong volume backing.

๐Ÿ“Š Backtest Snapshot

Based on the example chart for Reliance Industries (RELIANCE.NS) on the weekly timeframe:

Several profitable buy and breakout signals during uptrends.

Timely exits and breakdown alerts before reversals.

Volume filter keeps trades clean and avoids noise.

โš™๏ธ Customizable Parameters

High Length and Low Length (default: 19)

Supertrend Multiplier and ATR Length

Volume Filter: Toggle ON/OFF

Volume SMA Length: Default 20

Custom Timeframe: Choose any higher timeframe for multi-timeframe analysis

๐Ÿ“ข Alerts Ready

Fully integrated with TradingView alerts:

Breakout & Breakdown

Supertrend crossovers

All alerts respect the volume filter setting

๐Ÿ Final Thoughts

DTM 444 BANDS ๐Ÿš€ is a versatile and adaptive trading system that blends trend analysis, volatility bands, and volume validation. Whether you're a trend trader, breakout hunter, or swing trader โ€” this tool gives you a structured edge with clear visual cues and real-time alerts.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.