OPEN-SOURCE SCRIPT
GreenPen 1.2
GreenPen MTF Confirmation
Multi-timeframe price action indicator for M1 scalping (XAUUSD)
How It Works
Draws a range box based on 7AM (GMT+7) candle open ± offset
Detects Bullish/Bearish Engulfing with wick rejection at range edges
Optional Higher TF trend filter (EMA on H2/H4)
Optional M5 confirmation — requires both M1 and M5 PA to align
Signals
🟢🔴 Circle — Raw Engulf + Wick (unfiltered, for reference)
🔺 B / S Triangle — Filtered entry at range edge
🚀 Rocket — MTF BUY Confirmed (M1 + M5 bullish PA aligned)
🔨 Hammer — MTF SELL Confirmed (M1 + M5 bearish PA aligned)
SL / TP
SL placed beyond range edge + ATR buffer
TP calculated using Risk:Reward ratio (default 1:2)
Settings
Range offset — distance from 7AM open to draw upper/lower box
Edge zone % — how much of the range counts as "edge" for entries
Trend filter — toggle higher TF EMA trend filter on/off
MTF confirm — toggle M5 confirmation on/off
Lookback — how many M1 bars to check for M5 PA alignment
Recommended
Timeframe: M1
Symbol: XAUUSD
Trend TF: H2 or H4
Multi-timeframe price action indicator for M1 scalping (XAUUSD)
How It Works
Draws a range box based on 7AM (GMT+7) candle open ± offset
Detects Bullish/Bearish Engulfing with wick rejection at range edges
Optional Higher TF trend filter (EMA on H2/H4)
Optional M5 confirmation — requires both M1 and M5 PA to align
Signals
🟢🔴 Circle — Raw Engulf + Wick (unfiltered, for reference)
🔺 B / S Triangle — Filtered entry at range edge
🚀 Rocket — MTF BUY Confirmed (M1 + M5 bullish PA aligned)
🔨 Hammer — MTF SELL Confirmed (M1 + M5 bearish PA aligned)
SL / TP
SL placed beyond range edge + ATR buffer
TP calculated using Risk:Reward ratio (default 1:2)
Settings
Range offset — distance from 7AM open to draw upper/lower box
Edge zone % — how much of the range counts as "edge" for entries
Trend filter — toggle higher TF EMA trend filter on/off
MTF confirm — toggle M5 confirmation on/off
Lookback — how many M1 bars to check for M5 PA alignment
Recommended
Timeframe: M1
Symbol: XAUUSD
Trend TF: H2 or H4
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.