OPEN-SOURCE SCRIPT
5T's
5T’S — Tan Tech Trades TRAMA Thresholds by TANTECHTRADES™
What it is:
5T’s is a momentum/pressure gauge that scores recent price movement and normalizes it to a range of -100 to +100. It highlights when momentum is decisively bullish, bearish, or neutral and can optionally color your candles to match the current bias.
How it works
TRAMA Signal: For each of the last N bars (your Loop Back Period), the script “votes”:
+1 if close > close[i+1]
–1 if close < close[i+1]
0 if equal
The sum is then normalized: signal = (rawSum / N) * 100, producing an intuitive percentage-style score.
Thresholds: You define Long and Short thresholds (defaults +20 / –20).
Above Long Threshold → Bullish zone
Below Short Threshold → Bearish zone
Between thresholds → Neutral / No bias
Display: Plots the TRAMA signal in a separate pane with your chosen color theme and dashed reference lines at the thresholds plus a zero line.
Optional Candle Coloring: When enabled, chart candles take on the current bullish/bearish color for at-a-glance trend context.
Note: A Geometric MA (GMA) Length input is included for future extensions. It doesn’t affect the current plot.
Inputs
GMA Length (default 50) — reserved for future use.
Loop Back Period (default 30) — lookback depth for the TRAMA vote.
Smaller = faster, more signals; Larger = smoother, fewer whipsaws.
Long Threshold (default 20) — bullish confirmation level.
Short Threshold (default –20) — bearish confirmation level.
Color Mode — Cool / Classic / Blue preset palettes for bull/bear/neutral.
Color Candles? — toggle candle tinting by current bias.
Reading the signal
Strong Bullish: Signal rising and > Long Threshold.
Strong Bearish: Signal falling and < Short Threshold.
Neutral / Chop: Signal between thresholds; consider standing aside or using additional filters.
Suggested use
Trend filter: Trade only in the direction of the signal when it’s outside thresholds.
Confirmation: Pair with structure/breakouts or your entry trigger of choice.
Tuning:
For scalping, try Loop Back 10–20 and wider thresholds (e.g., +30/–30).
For swing, try Loop Back 30–60 with default thresholds.
Notes & Tips
The zero line helps spot momentum polarity flips.
To reduce noise, increase Loop Back or widen thresholds.
Candle coloring is visual aid only—your entries/exits should still follow your plan.
Built by TANTECHTRADES™. Educational tool, not financial advice. Trade responsibly.
What it is:
5T’s is a momentum/pressure gauge that scores recent price movement and normalizes it to a range of -100 to +100. It highlights when momentum is decisively bullish, bearish, or neutral and can optionally color your candles to match the current bias.
How it works
TRAMA Signal: For each of the last N bars (your Loop Back Period), the script “votes”:
+1 if close > close[i+1]
–1 if close < close[i+1]
0 if equal
The sum is then normalized: signal = (rawSum / N) * 100, producing an intuitive percentage-style score.
Thresholds: You define Long and Short thresholds (defaults +20 / –20).
Above Long Threshold → Bullish zone
Below Short Threshold → Bearish zone
Between thresholds → Neutral / No bias
Display: Plots the TRAMA signal in a separate pane with your chosen color theme and dashed reference lines at the thresholds plus a zero line.
Optional Candle Coloring: When enabled, chart candles take on the current bullish/bearish color for at-a-glance trend context.
Note: A Geometric MA (GMA) Length input is included for future extensions. It doesn’t affect the current plot.
Inputs
GMA Length (default 50) — reserved for future use.
Loop Back Period (default 30) — lookback depth for the TRAMA vote.
Smaller = faster, more signals; Larger = smoother, fewer whipsaws.
Long Threshold (default 20) — bullish confirmation level.
Short Threshold (default –20) — bearish confirmation level.
Color Mode — Cool / Classic / Blue preset palettes for bull/bear/neutral.
Color Candles? — toggle candle tinting by current bias.
Reading the signal
Strong Bullish: Signal rising and > Long Threshold.
Strong Bearish: Signal falling and < Short Threshold.
Neutral / Chop: Signal between thresholds; consider standing aside or using additional filters.
Suggested use
Trend filter: Trade only in the direction of the signal when it’s outside thresholds.
Confirmation: Pair with structure/breakouts or your entry trigger of choice.
Tuning:
For scalping, try Loop Back 10–20 and wider thresholds (e.g., +30/–30).
For swing, try Loop Back 30–60 with default thresholds.
Notes & Tips
The zero line helps spot momentum polarity flips.
To reduce noise, increase Loop Back or widen thresholds.
Candle coloring is visual aid only—your entries/exits should still follow your plan.
Built by TANTECHTRADES™. Educational tool, not financial advice. Trade responsibly.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.