PROTECTED SOURCE SCRIPT
Excess Painter — Pin + Engulf + Outside Reversal
Purpose:
A clean bar-painter that highlights three high-quality reversal/exhaustion bars only when they’re big enough vs ATR. It helps you see “excess” at important levels without clutter. Optional arrows appear only on the 15-minute chart; all timeframes still paint candle colors.
What it detects
Pin / Excess Tail — Long wick relative to ATR, close near the opposite edge, and a strong wick:body ratio.
Engulfing — Current body engulfs the prior body in the opposite direction, with a minimum body size vs ATR.
Outside Reversal — Range takes out both prior high & low and closes in the reversal direction with a minimum body vs ATR.
Priority (if multiple fire on the same bar): Engulfing → Outside → Pin.
If both bull & bear somehow qualify, the script chooses the side with the larger wick multiple to avoid mixed signals.
Why it’s different
ATR-based size floors (by timeframe): rejects “tiny” bars. You can use a single global floor or TF-specific floors for intraday / Daily / Weekly / Monthly.
MTF-aware: ATR and thresholds adapt to the chart timeframe (5m, 15m, 1H, D, W, M).
Session control: Optional RTH-only filter and “ignore first N bars” on intraday to skip the opening scramble.
Live or confirmed: Choose to paint during the live bar or only after the bar closes.
Cooldown: Prevents rapid back-to-back signals.
Best use
Treat the paint as a heads-up, not an entry by itself. Combine with your process:
Key locations (LIS / VAH / VAL / prior highs/lows)
Context (RVOL, VWAP, higher-timeframe structure)
Entry confirmation (e.g., excess + reclaim at the level)
Settings (quick guide)
Size floors: Use TF-specific size floors (on by default) + per-TF range≥ATR floors.
Raise floors for fewer, stronger signals; lower for more.
Pin: min wick ≥ ATR, close near edge, Wick:Body ratio.
Engulfing / Outside: min body ≥ ATR filters toy bodies.
RTH & Open: RTH only, Ignore first N RTH bars (intraday only).
Arrows: Show arrows (drawn only on 15m).
Live vs close: Paint on live bar.
Cooldown: space out signals.
Supported timeframes
5m, 15m, 1H, Daily, Weekly, Monthly.
(Arrows draw only on 15m; candle colors paint on all.)
Tuning tips
Too many signals? Raise per-TF size floors; increase min body ≥ ATR; tighten Pin’s wick thresholds; increase Cooldown.
Too few? Lower size floors a notch; relax body/min-wick thresholds; allow live painting.
Disclaimer: This tool is for educational/informational use. Not investment advice. Always test and confirm with your own risk management and trade plan.
A clean bar-painter that highlights three high-quality reversal/exhaustion bars only when they’re big enough vs ATR. It helps you see “excess” at important levels without clutter. Optional arrows appear only on the 15-minute chart; all timeframes still paint candle colors.
What it detects
Pin / Excess Tail — Long wick relative to ATR, close near the opposite edge, and a strong wick:body ratio.
Engulfing — Current body engulfs the prior body in the opposite direction, with a minimum body size vs ATR.
Outside Reversal — Range takes out both prior high & low and closes in the reversal direction with a minimum body vs ATR.
Priority (if multiple fire on the same bar): Engulfing → Outside → Pin.
If both bull & bear somehow qualify, the script chooses the side with the larger wick multiple to avoid mixed signals.
Why it’s different
ATR-based size floors (by timeframe): rejects “tiny” bars. You can use a single global floor or TF-specific floors for intraday / Daily / Weekly / Monthly.
MTF-aware: ATR and thresholds adapt to the chart timeframe (5m, 15m, 1H, D, W, M).
Session control: Optional RTH-only filter and “ignore first N bars” on intraday to skip the opening scramble.
Live or confirmed: Choose to paint during the live bar or only after the bar closes.
Cooldown: Prevents rapid back-to-back signals.
Best use
Treat the paint as a heads-up, not an entry by itself. Combine with your process:
Key locations (LIS / VAH / VAL / prior highs/lows)
Context (RVOL, VWAP, higher-timeframe structure)
Entry confirmation (e.g., excess + reclaim at the level)
Settings (quick guide)
Size floors: Use TF-specific size floors (on by default) + per-TF range≥ATR floors.
Raise floors for fewer, stronger signals; lower for more.
Pin: min wick ≥ ATR, close near edge, Wick:Body ratio.
Engulfing / Outside: min body ≥ ATR filters toy bodies.
RTH & Open: RTH only, Ignore first N RTH bars (intraday only).
Arrows: Show arrows (drawn only on 15m).
Live vs close: Paint on live bar.
Cooldown: space out signals.
Supported timeframes
5m, 15m, 1H, Daily, Weekly, Monthly.
(Arrows draw only on 15m; candle colors paint on all.)
Tuning tips
Too many signals? Raise per-TF size floors; increase min body ≥ ATR; tighten Pin’s wick thresholds; increase Cooldown.
Too few? Lower size floors a notch; relax body/min-wick thresholds; allow live painting.
Disclaimer: This tool is for educational/informational use. Not investment advice. Always test and confirm with your own risk management and trade plan.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.