OPEN-SOURCE SCRIPT
PanjiAlgo V2 [Alpha]
PanjiAlgo V2 [Alpha] is a confluence-based toolkit that combines EMA trend, institutional order blocks, and smart zone visualization in a single indicator.
Core logic:
• Trend Filter – 9-period EMA with optional smoothing (SMA / EMA / RMA / WMA / VWMA) and EMA-based Bollinger Bands to track dynamic structure and volatility.
• Order Blocks – integrated LuxAlgo Order Block Detector logic (used under CC BY-NC-SA 4.0 license) to highlight bullish and bearish institutional zones with extendable boxes and average lines.
• Smart BUY Triggers – BUY labels only appear when price is:
1) Trading above the EMA (trend up),
2) Retracing back into the most recent bullish order block, and
3) Touching or interacting with the EMA at that zone.
This design helps you focus on high-probability pullbacks into institutional demand areas instead of chasing price. PanjiAlgo V2 [Alpha] is a decision-support tool only and does not gu
Core logic:
• Trend Filter – 9-period EMA with optional smoothing (SMA / EMA / RMA / WMA / VWMA) and EMA-based Bollinger Bands to track dynamic structure and volatility.
• Order Blocks – integrated LuxAlgo Order Block Detector logic (used under CC BY-NC-SA 4.0 license) to highlight bullish and bearish institutional zones with extendable boxes and average lines.
• Smart BUY Triggers – BUY labels only appear when price is:
1) Trading above the EMA (trend up),
2) Retracing back into the most recent bullish order block, and
3) Touching or interacting with the EMA at that zone.
This design helps you focus on high-probability pullbacks into institutional demand areas instead of chasing price. PanjiAlgo V2 [Alpha] is a decision-support tool only and does not gu
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.