OPEN-SOURCE SCRIPT
Updated The Echo System
🔊 The Echo System – Trend + Momentum Trading Strategy
Overview:
The Echo System is a trend-following and momentum-based trading tool designed to identify high-probability buy and sell signals through a combination of market trend analysis, price movement strength, and candlestick validation.
Key Features:
📈 Trend Detection:
Uses a 30 EMA vs. 200 EMA crossover to confirm bullish or bearish trends.
Visual trend strength meter powered by percentile ranking of EMA distance.
🔄 Momentum Check:
Detects significant price moves over the past 6 bars, enhanced by ATR-based scaling to filter weak signals.
🕯️ Candle Confirmation:
Validates recent price action using the previous and current candle body direction.
✅ Smart Conditions Table:
A live dashboard showing all trade condition checks (Trend, Recent Price Move, Candlestick confirmations) in real-time with visual feedback.
📊 Backtesting & Stats:
Auto-calculates average win, average loss, risk-reward ratio (RRR), and win rate across historical signals.
Clean performance dashboard with color-coded metrics for easy reading.
🔔 Alerts:
Set alerts for trade signals or significant price movements to stay updated without monitoring the chart 24/7.
Visuals:
Trend markers and price movement flags plotted directly on the chart.
Dual tables:
📈 Conditions table (top-right): breaks down trade criteria status.
📊 Performance table (bottom-right): shows real-time stats on win/loss and RRR.🔊 The Echo System – Trend + Momentum Trading Strategy
Overview:
The Echo System is a trend-following and momentum-based trading tool designed to identify high-probability buy and sell signals through a combination of market trend analysis, price movement strength, and candlestick validation.
Key Features:
📈 Trend Detection:
Uses a 30 EMA vs. 200 EMA crossover to confirm bullish or bearish trends.
Visual trend strength meter powered by percentile ranking of EMA distance.
🔄 Momentum Check:
Detects significant price moves over the past 6 bars, enhanced by ATR-based scaling to filter weak signals.
🕯️ Candle Confirmation:
Validates recent price action using the previous and current candle body direction.
✅ Smart Conditions Table:
A live dashboard showing all trade condition checks (Trend, Recent Price Move, Candlestick confirmations) in real-time with visual feedback.
📊 Backtesting & Stats:
Auto-calculates average win, average loss, risk-reward ratio (RRR), and win rate across historical signals.
Clean performance dashboard with color-coded metrics for easy reading.
🔔 Alerts:
Set alerts for trade signals or significant price movements to stay updated without monitoring the chart 24/7.
Visuals:
Trend markers and price movement flags plotted directly on the chart.
Dual tables:
📈 Conditions table (top-right): breaks down trade criteria status.
📊 Performance table (bottom-right): shows real-time stats on win/loss and RRR.
Overview:
The Echo System is a trend-following and momentum-based trading tool designed to identify high-probability buy and sell signals through a combination of market trend analysis, price movement strength, and candlestick validation.
Key Features:
📈 Trend Detection:
Uses a 30 EMA vs. 200 EMA crossover to confirm bullish or bearish trends.
Visual trend strength meter powered by percentile ranking of EMA distance.
🔄 Momentum Check:
Detects significant price moves over the past 6 bars, enhanced by ATR-based scaling to filter weak signals.
🕯️ Candle Confirmation:
Validates recent price action using the previous and current candle body direction.
✅ Smart Conditions Table:
A live dashboard showing all trade condition checks (Trend, Recent Price Move, Candlestick confirmations) in real-time with visual feedback.
📊 Backtesting & Stats:
Auto-calculates average win, average loss, risk-reward ratio (RRR), and win rate across historical signals.
Clean performance dashboard with color-coded metrics for easy reading.
🔔 Alerts:
Set alerts for trade signals or significant price movements to stay updated without monitoring the chart 24/7.
Visuals:
Trend markers and price movement flags plotted directly on the chart.
Dual tables:
📈 Conditions table (top-right): breaks down trade criteria status.
📊 Performance table (bottom-right): shows real-time stats on win/loss and RRR.🔊 The Echo System – Trend + Momentum Trading Strategy
Overview:
The Echo System is a trend-following and momentum-based trading tool designed to identify high-probability buy and sell signals through a combination of market trend analysis, price movement strength, and candlestick validation.
Key Features:
📈 Trend Detection:
Uses a 30 EMA vs. 200 EMA crossover to confirm bullish or bearish trends.
Visual trend strength meter powered by percentile ranking of EMA distance.
🔄 Momentum Check:
Detects significant price moves over the past 6 bars, enhanced by ATR-based scaling to filter weak signals.
🕯️ Candle Confirmation:
Validates recent price action using the previous and current candle body direction.
✅ Smart Conditions Table:
A live dashboard showing all trade condition checks (Trend, Recent Price Move, Candlestick confirmations) in real-time with visual feedback.
📊 Backtesting & Stats:
Auto-calculates average win, average loss, risk-reward ratio (RRR), and win rate across historical signals.
Clean performance dashboard with color-coded metrics for easy reading.
🔔 Alerts:
Set alerts for trade signals or significant price movements to stay updated without monitoring the chart 24/7.
Visuals:
Trend markers and price movement flags plotted directly on the chart.
Dual tables:
📈 Conditions table (top-right): breaks down trade criteria status.
📊 Performance table (bottom-right): shows real-time stats on win/loss and RRR.
Release Notes
sensitivityRelease Notes
updateRelease Notes
notif updateRelease Notes
more alertsRelease Notes
-- The Echo System 2.0 --Release Notes
fixRelease Notes
added mobile versionRelease Notes
colorsRelease Notes
updated colors and shapesRelease Notes
starting to add more visualsRelease Notes
alert namesRelease Notes
mobile fixRelease Notes
WAITING...Release Notes
fixed the color thing to adjust for stop lossRelease Notes
3.0!!!!Release Notes
I added the Markov chain functionality, only enter trades after 2 wins in a row. Release Notes
quick fixRelease Notes
quick fixRelease Notes
IMPORTANT UPDATED FIXED MAJOR ISSUESRelease Notes
minor fix oopsRelease Notes
added pip multiplier for other assets (other assets win rates are low but oh well)Release Notes
added units optionRelease Notes
small editsRelease Notes
- small tweaks- fix small glitches
Release Notes
added more optionsRelease Notes
added Markov optionsRelease Notes
editsRelease Notes
fixed glitchRelease Notes
--edited default settingsRelease Notes
double entry glitch fixRelease Notes
FIXED double entryRelease Notes
reduced clutter and added other modelsRelease Notes
quick fixRelease Notes
IdekRelease Notes
updateRelease Notes
made it less confusingRelease Notes
quick fixRelease Notes
fixesRelease Notes
fixsRelease Notes
bugsRelease Notes
added extra trades optionRelease Notes
fixesRelease Notes
added alertsRelease Notes
fixOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.