OPEN-SOURCE SCRIPT
Hull Snake
Detecting Trend Reversals with the Hull Snake Indicator
In trading, knowing when a trend is about to reverse can make or break a trade. That's why I developed the Hull Snake Indicator.
What the Hull Snake Does
Imagine an indicator that wraps around price action like a snake around its prey. The Hull Snake does just that.
I like to use this indicator on a 1-minute timeframe with a period of 12. This setup ensures I'm getting fast updates on short-term price movements.
Seeing the Hull Snake in Action
Take a look at this scenario where the Hull Snake really shines:
At the top of the chart, a small red dot indicates that the price is reversing. If you entered a short position here, the large red dot—which signals a reversal on a higher timeframe—acts as confirmation that you might want to hold your position.
But when should you consider exiting? Typically, I wait until I see a tiny green dot appear. However, you don't need to act immediately after these dots appear. The dots announce that a reversal has occurred, but the price at which you enter or exit is up to your judgment and risk management. The Hull Snake helps you understand when the market is shifting, but how you respond should be based on your own trading plan.
What Happens Next
Now, let's see how the situation unfolds:
After the small green dot appeared, a red dot shows up shortly after. This indicates that the rebound was merely a technical correction within a larger downtrend. This is crucial because, by seeing this red dot, you recognize that the downtrend is resuming—remember, the higher timeframe's trend is still down. Knowing this, you still have time to exit your position before the price drops further.
In my experience, narrowly timed small dots often indicate the boundaries of a range that is establishing. This means you can confidently exit a bit above the local low as the price moves back in its direction. These signals provide valuable insight, allowing you to exit your position at a safer point—minimizing risk while maximizing profit.
As you can see below, when tiny dots appear quickly after one another, I like to display the range they form:
Try It Out
I'm excited to share the Hull Snake Indicator on the TradingView platform.
Give it a try and see how it fits into your trading strategy.
Happy Trading!
In trading, knowing when a trend is about to reverse can make or break a trade. That's why I developed the Hull Snake Indicator.
What the Hull Snake Does
Imagine an indicator that wraps around price action like a snake around its prey. The Hull Snake does just that.
- Green Line: Acts as support in an uptrend.
- Red Line: Serves as resistance in a downtrend.
- Dots: Appear when trend directions change, signaling that a reversal has occurred.
I like to use this indicator on a 1-minute timeframe with a period of 12. This setup ensures I'm getting fast updates on short-term price movements.
Seeing the Hull Snake in Action
Take a look at this scenario where the Hull Snake really shines:
At the top of the chart, a small red dot indicates that the price is reversing. If you entered a short position here, the large red dot—which signals a reversal on a higher timeframe—acts as confirmation that you might want to hold your position.
But when should you consider exiting? Typically, I wait until I see a tiny green dot appear. However, you don't need to act immediately after these dots appear. The dots announce that a reversal has occurred, but the price at which you enter or exit is up to your judgment and risk management. The Hull Snake helps you understand when the market is shifting, but how you respond should be based on your own trading plan.
What Happens Next
Now, let's see how the situation unfolds:
After the small green dot appeared, a red dot shows up shortly after. This indicates that the rebound was merely a technical correction within a larger downtrend. This is crucial because, by seeing this red dot, you recognize that the downtrend is resuming—remember, the higher timeframe's trend is still down. Knowing this, you still have time to exit your position before the price drops further.
In my experience, narrowly timed small dots often indicate the boundaries of a range that is establishing. This means you can confidently exit a bit above the local low as the price moves back in its direction. These signals provide valuable insight, allowing you to exit your position at a safer point—minimizing risk while maximizing profit.
As you can see below, when tiny dots appear quickly after one another, I like to display the range they form:
Try It Out
I'm excited to share the Hull Snake Indicator on the TradingView platform.
Give it a try and see how it fits into your trading strategy.
Happy Trading!
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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.