PROTECTED SOURCE SCRIPT
Shezab AlgoLabs – 2-Wave Probability Engine
Overview
The 2-Wave Probability Engine is a probability-driven market structure tool built to help traders interpret trend strength, trend continuation, potential reversal pressure, and chop zones using two clean, smoothed probability waves.
Instead of producing buy/sell signals, this tool provides a context model that allows traders to understand what the market is trying to do at the current moment.
It is designed to be lightweight, non-repainting, and easy to combine with your existing strategy.
How It Works
The engine computes two independent probability waves:
1. Trend Probability Wave (Teal)
Represents the market’s directional momentum and continuation potential.
It incorporates:
Trend velocity (EMA slope & movement)
Pullback health
Distance from trend structure
Opposition pressure (reversal probability influence)
High Trend Probability indicates:
Strong directional structure
Higher likelihood of continuation
Lower likelihood of immediate reversal
Low Trend Probability indicates weakening structure or chop.
2. Reversal Probability Wave (Magenta)
Measures the pressure building against the current trend.
It combines:
Wick pressure against trend
Overextension levels
RSI-based exhaustion
Divergence conditions
High Reversal Probability suggests the trend may be losing strength and is more vulnerable to changing direction.
Chop Zone Detection
When both waves cluster near the mid-range, the engine flags a potential consolidation / no-trade environment.
A subtle dot system highlights:
Trend dots → Trend continuation probability spikes
Reversal dots → High reversal pressure moments
Chop dots → Neutral or low-probability environments
Dashboard (Optional)
A compact probability dashboard summarizes:
Trend reading
Reversal reading
Current action suggestion (“Wait”, “Building Pressure”, “Watch”, etc.)
Zone classification (“Trend”, “Reversal”, “Neutral”, “Chop”)
The dashboard dynamically adapts to both light and dark themes.
How to Use It
Trend Trading Context
High Trend Probability + Low Reversal Probability
→ continuation bias
Reversal Context
Rising Reversal Probability during stretched conditions
→ potential shift or deeper pullback
Chop Context
Both waves compressed
→ low-clarity, avoid forced trades
Signal Interpretation
This script does not generate entry signals.
It provides probabilistic context that improves decision-making for:
Market structure analysis
Trend continuation planning
Timing pullbacks
Avoiding low-quality environments
Inputs
Trend length
Volatility length
RSI length
Range window
Dot system visibility
Dashboard visibility
Background highlights
Non-Repainting
All calculations are performed using non-repainting logic.
Values do not change after the bar closes.
Disclaimer
This tool is designed for informational and educational purposes.
It does not generate buy or sell signals.
Always confirm with price action and risk management.
Credits
Designed and developed by Shezab AlgoLabs.
The 2-Wave Probability Engine is a probability-driven market structure tool built to help traders interpret trend strength, trend continuation, potential reversal pressure, and chop zones using two clean, smoothed probability waves.
Instead of producing buy/sell signals, this tool provides a context model that allows traders to understand what the market is trying to do at the current moment.
It is designed to be lightweight, non-repainting, and easy to combine with your existing strategy.
How It Works
The engine computes two independent probability waves:
1. Trend Probability Wave (Teal)
Represents the market’s directional momentum and continuation potential.
It incorporates:
Trend velocity (EMA slope & movement)
Pullback health
Distance from trend structure
Opposition pressure (reversal probability influence)
High Trend Probability indicates:
Strong directional structure
Higher likelihood of continuation
Lower likelihood of immediate reversal
Low Trend Probability indicates weakening structure or chop.
2. Reversal Probability Wave (Magenta)
Measures the pressure building against the current trend.
It combines:
Wick pressure against trend
Overextension levels
RSI-based exhaustion
Divergence conditions
High Reversal Probability suggests the trend may be losing strength and is more vulnerable to changing direction.
Chop Zone Detection
When both waves cluster near the mid-range, the engine flags a potential consolidation / no-trade environment.
A subtle dot system highlights:
Trend dots → Trend continuation probability spikes
Reversal dots → High reversal pressure moments
Chop dots → Neutral or low-probability environments
Dashboard (Optional)
A compact probability dashboard summarizes:
Trend reading
Reversal reading
Current action suggestion (“Wait”, “Building Pressure”, “Watch”, etc.)
Zone classification (“Trend”, “Reversal”, “Neutral”, “Chop”)
The dashboard dynamically adapts to both light and dark themes.
How to Use It
Trend Trading Context
High Trend Probability + Low Reversal Probability
→ continuation bias
Reversal Context
Rising Reversal Probability during stretched conditions
→ potential shift or deeper pullback
Chop Context
Both waves compressed
→ low-clarity, avoid forced trades
Signal Interpretation
This script does not generate entry signals.
It provides probabilistic context that improves decision-making for:
Market structure analysis
Trend continuation planning
Timing pullbacks
Avoiding low-quality environments
Inputs
Trend length
Volatility length
RSI length
Range window
Dot system visibility
Dashboard visibility
Background highlights
Non-Repainting
All calculations are performed using non-repainting logic.
Values do not change after the bar closes.
Disclaimer
This tool is designed for informational and educational purposes.
It does not generate buy or sell signals.
Always confirm with price action and risk management.
Credits
Designed and developed by Shezab AlgoLabs.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Shezab AlgoLabs — Premium Algorithmic Trading Tools
Clean • Data-Driven • Non-Repainting
Clean • Data-Driven • Non-Repainting
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.
Shezab AlgoLabs — Premium Algorithmic Trading Tools
Clean • Data-Driven • Non-Repainting
Clean • Data-Driven • Non-Repainting
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.