OPEN-SOURCE SCRIPT
Pro Trend: Double BB + Chandelier + ZigZag by Kidev
This indicator combines multiple powerful tools into a single overlay:
Bollinger Bands (0.5σ & 2σ): Tracks short-term and wider volatility ranges.
SMA 75: Smooth trend filter to identify medium-term direction.
Centered Chandelier Exit: Dynamic stop/trend tool based on ATR; midline highlights trend bias.
Double ZigZag with HH/LL Labels: Two independent ZigZags (configurable periods) mark pivots and identify Higher Highs / Higher Lows / Lower Highs / Lower Lows.
Quickly visualize volatility channels and trend direction.
Identify breakout vs. mean-reversion conditions.
Spot pivot structure (HH/HL vs. LH/LL) for market structure analysis.
Combine ATR-based stop levels with SMA filter for trade entries/exit
Bollinger Bands (0.5σ & 2σ): Tracks short-term and wider volatility ranges.
SMA 75: Smooth trend filter to identify medium-term direction.
Centered Chandelier Exit: Dynamic stop/trend tool based on ATR; midline highlights trend bias.
Double ZigZag with HH/LL Labels: Two independent ZigZags (configurable periods) mark pivots and identify Higher Highs / Higher Lows / Lower Highs / Lower Lows.
Quickly visualize volatility channels and trend direction.
Identify breakout vs. mean-reversion conditions.
Spot pivot structure (HH/HL vs. LH/LL) for market structure analysis.
Combine ATR-based stop levels with SMA filter for trade entries/exit
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.