Tom Basso ETR Hedge

Simple hedge regime indicator inspired by Tom Basso’s hedging approach described at enjoytheride.world/hedging/. It combines Keltner Channels, Bollinger Bands, and Donchian Channels using 50-bar “IN” signals to turn the hedge ON and 21-bar “OUT” signals to turn the hedge OFF. When any 50-bar lower band is broken to the downside, the background turns red to indicate hedge mode, and when price recovers above any 21-bar upper band, hedge mode turns off.

Use this on a broad market index (SPX/ES/SPY, etc.) to time when you should be hedged versus unhedged, not as a standalone entry/exit trading system.