SimpleAlgo V3.1

SimpleAlgo V3.1 – Adaptive Trend, Signals, and Market Context

Overview
SimpleAlgo V3.1 combines an adaptive trail system, range-based signal engine, MACD-driven candle coloring, ATR reversal zones, and optional structure tools into one framework. It is designed to help visualize trend direction, potential reversal areas, and trade planning levels in a single overlay.

Adaptive Trail System
V3.1 includes a volatility-adjusted trail based on a modified true range calculation.
This trail switches between long and short states and can highlight trend shifts, pullbacks, and areas where price is extended relative to recent movement. Optional Fibonacci-style projections around the trail provide additional visual context.

Signal Engine
The script uses a range-filtered price model to generate potential long and short signals.
Signals appear when filtered price, direction, and persistence conditions align. These entries are meant as points of interest rather than standalone trade instructions and should be confirmed with the broader context.

Candle Coloring (MACD-Based)
MACD and histogram values are used to color candles according to momentum strength.
This helps quickly see when momentum is building, fading, or switching sides without relying on separate subcharts.

Reversal Zones (ATR Bands)
ATR-based reversal zones are calculated around a smoothed midline.
Multiple upper and lower bands highlight where price may be stretched relative to its recent volatility profile. These zones can help identify potential reaction or exhaustion areas.

Support, Resistance, and Structure
Optional pivot-based levels mark recent support and resistance.
Swing markers (HH, HL, LH, LL) can be displayed to visualize swing structure and trend progression over time. These tools are there to support structure analysis rather than predict future price.

Momentum Bands and Trend Ribbon
Short-term “momentum energy” bands and a simple trend ribbon can be enabled to reinforce direction and strength.
These layers help confirm alignment between short-term movement and the underlying trend.

Custom MAs and Previous Day Levels
Users can add custom moving averages and display previous day high, low, and close levels.
These elements give additional reference points for intraday and swing decision-making.

Position Management (TP/SL Framework)
When a percentage stop is set, V3.1 can draw a visual framework of entry, stop, and multiple profit targets based on the distance between entry and stop.
This is a planning tool only; it does not place orders or manage trades.

Info Panel
An optional information panel summarizes trend direction, strength, volume sentiment, and volatility as simple percentage-style metrics.
This provides a quick snapshot of current conditions without leaving the chart.

Alerts
Alert conditions are available for:
– Long Entry
– Short Entry
– Any Signal
– Overbought and Oversold conditions (RSI-based)

Customization and Use
All major components (signals, trail, zones, structure tools, MAs, previous day levels, panel) can be toggled on or off.
SimpleAlgo V3.1 is best used as a contextual framework: identify trend, observe where price sits relative to the trail and zones, then use signals and structure as supporting information within a complete trading plan.

Disclaimer
This indicator is for technical analysis and educational purposes only. It does not predict future price or guarantee results. All trading involves risk and should be managed accordingly.