SniperRUN

The SniperRUN indicator provides a trend-following framework for low-timeframe trading by combining Bollinger Bands and ATR-based filtering to identify potential market entries and trend reversals.

Usage

The Usage section describes how the script can be used to navigate different market conditions. This indicator is primarily used to identify trend shifts on shorter timeframes while maintaining a perspective on the long-term trend.

Trend Tracking and Signals

The indicator plots a central signal line that changes color based on the current trend. When the price breaks above the upper Bollinger Band, a bullish trend is initiated; conversely, a break below the lower Bollinger Band triggers a bearish trend. Buy and Sell labels appear when these trend shifts are confirmed, providing clear entry points for traders focusing on momentum.

Volatility Filtering

The ATR (Average True Range) filter is a key component of the indicator's logic. When enabled, it creates a buffer around the price action, ensuring that signals are not triggered by minor market noise. This results in a "stair-step" signal line that trailing stops can be modeled after, as the level only moves in the direction of the trend and locks in during consolidations.

Multi-Timeframe Context

While designed for lower timeframes, the indicator automatically plots the 21-period and 50-period Exponential Moving Averages (EMAs) from the Weekly timeframe. This allows users to ensure their short-term trades align with the macro trend, reducing the risk of trading against significant institutional resistance or support levels.

Details

The script's core logic is built upon the interaction between price volatility and standard deviation. It calculates a basis line using a Simple Moving Average (SMA) and defines Bollinger Band boundaries. When price closes outside these boundaries, the internal trend state updates.

To refine the output, the script utilizes an ATR-based calculation to determine the "Elite Signal" level. This level acts as a dynamic support or resistance line. The inclusion of request.security functions allows the script to fetch weekly data, providing a dual-layer analysis of price action without requiring the user to switch chart intervals manually. This construction ensures that the signals are both reactive to immediate price movement and grounded in broader market cycles.

Settings

• ATR Period: Defines the lookback period for the Average True Range calculation used in the volatility filter.
• Bollinger Bands Period: Sets the length for the SMA and standard deviation used to create the Bollinger Bands.
• Bollinger Bands Deviation: Adjusts the width of the bands; higher values require more significant price moves to trigger a trend change.
• ATR Filter On/Off: Toggles whether the signal line uses ATR-adjusted values or remains pegged directly to high/low prices.
• Show Signals: Controls the visibility of the "BUY" and "SELL" labels on the chart.

FAQ

What is the purpose of the Weekly EMAs on the chart?

The Weekly EMAs (21 and 50) provide high-timeframe trend context. Trading in the direction of these EMAs (e.g., only taking Buy signals when price is above the Weekly EMAs) can increase the probability of a successful trade.

How does the ATR Filter reduce false signals?

The ATR filter adds a volatility-based margin to the signal line. By requiring price to clear a specific volatility threshold before shifting the trend, it helps prevent "whipsaws" during sideways market movement.

How can I get access to SniperRUN?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.