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WJ | Vegas Channels Only
Overview
The [WJ] Vegas Channels is a clean, optimized indicator based on the classic Vegas Tunnel trading theory. It utilizes three sets of Exponential Moving Average (EMA) pairs to create "tunnels" that help traders identify trend direction, dynamic support/resistance levels, and potential trend reversals.
This version is written in Pine Script v6, ensuring the best performance and compatibility with the latest TradingView features.
How it Works
The indicator plots three distinct tunnels, each representing a different trend horizon:
V1 Tunnel (144 / 169 EMAs): The "Fast" tunnel. It represents short-to-medium-term momentum. Traders often look for price action around this tunnel for entry signals in a trending market.
V2 Tunnel (288 / 338 EMAs): The "Medium" tunnel. It acts as a significant level of support or resistance.
V3 Tunnel (576 / 676 EMAs): The "Slow" tunnel. This represents the long-term cycle and serves as the ultimate trend filter.
Key Trading Strategies
Trend Identification: * Bullish: Price is above the tunnels, and tunnels are stacked in order (V1 > V2 > V3).
Bearish: Price is below the tunnels, and tunnels are stacked in order (V3 > V2 > V1).
Support & Resistance: During a strong trend, price pullbacks often find "value" within these tunnels. A bounce off the V1 or V2 tunnel is a classic trend-following entry.
Trend Reversal: A crossover between the V1 tunnel and the V3 tunnel often signals a major shift in the market cycle.
Features
Fully Customizable: Easily adjust the EMA lengths for each tunnel to suit different assets (Crypto, FX, or Stocks).
Visual Clarity: Distinct colors for each tunnel with adjustable opacity to keep your charts clean and readable.
Modern Code: Optimized using Pine Script v6 for faster loading and calculation.
Disclaimer
This indicator is for educational purposes only and does not constitute financial advice. Always use proper risk management and combine this tool with other indicators (like RSI or Volume) for better confirmation.
The [WJ] Vegas Channels is a clean, optimized indicator based on the classic Vegas Tunnel trading theory. It utilizes three sets of Exponential Moving Average (EMA) pairs to create "tunnels" that help traders identify trend direction, dynamic support/resistance levels, and potential trend reversals.
This version is written in Pine Script v6, ensuring the best performance and compatibility with the latest TradingView features.
How it Works
The indicator plots three distinct tunnels, each representing a different trend horizon:
V1 Tunnel (144 / 169 EMAs): The "Fast" tunnel. It represents short-to-medium-term momentum. Traders often look for price action around this tunnel for entry signals in a trending market.
V2 Tunnel (288 / 338 EMAs): The "Medium" tunnel. It acts as a significant level of support or resistance.
V3 Tunnel (576 / 676 EMAs): The "Slow" tunnel. This represents the long-term cycle and serves as the ultimate trend filter.
Key Trading Strategies
Trend Identification: * Bullish: Price is above the tunnels, and tunnels are stacked in order (V1 > V2 > V3).
Bearish: Price is below the tunnels, and tunnels are stacked in order (V3 > V2 > V1).
Support & Resistance: During a strong trend, price pullbacks often find "value" within these tunnels. A bounce off the V1 or V2 tunnel is a classic trend-following entry.
Trend Reversal: A crossover between the V1 tunnel and the V3 tunnel often signals a major shift in the market cycle.
Features
Fully Customizable: Easily adjust the EMA lengths for each tunnel to suit different assets (Crypto, FX, or Stocks).
Visual Clarity: Distinct colors for each tunnel with adjustable opacity to keep your charts clean and readable.
Modern Code: Optimized using Pine Script v6 for faster loading and calculation.
Disclaimer
This indicator is for educational purposes only and does not constitute financial advice. Always use proper risk management and combine this tool with other indicators (like RSI or Volume) for better confirmation.
Skrypt chroniony
Ten skrypt został opublikowany jako zamknięty kod źródłowy. Można z tego korzystać swobodnie i bez żadnych ograniczeń — więcej informacji znajduje się tutaj.
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
Skrypt chroniony
Ten skrypt został opublikowany jako zamknięty kod źródłowy. Można z tego korzystać swobodnie i bez żadnych ograniczeń — więcej informacji znajduje się tutaj.
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.