OPEN-SOURCE SCRIPT
HOLO Engine
Overview
This is a Pine Script v5 conversion of the HOLO concept originally coded by thi4gon for MetaTrader 4. Full credit to thi4gon for the original systems logic and mean-reversion framework — this publication brings that idea into TradingView with a fully rebuilt engine, multi-timeframe support, signal filtering, an info panel, and alert conditions.
HOLO stands for Highest Open / Lowest Open. The core idea: the highest and lowest opening prices recorded by intraday bars since the day started act as significant mean-reversion levels. Price tends to return to these open extremes after deviating from them. The HO is a potential sell level; the LO is a potential buy level. Stop-loss reference is the current day's running high (for sells) and running low (for buys).
How It Works
At the start of each new day, the engine resets and begins tracking the highest open and lowest open printed by H1 candles (or any selected timeframe). These levels are not highs and lows of the candle — they are the open prices, making them distinct from standard session high/low tools.
A trade setup occurs when:
A bar opens inside the zone between the HO/LO and the corresponding daily extreme (sell zone = between HO and Daily High; buy zone = between Daily Low and LO)
Price touches the HO or LO level during that bar
Price has not broken outside yesterday's high/low range (breakout filter)
The current H1 bar is not the bar that created the HO/LO (breakout bar filter)
Today's range has reached at least 50% of the daily ATR (optional, enabled by default)
All signal evaluation is done on confirmed closed bars only — no repainting.
Features
H1 HO/LO primary levels with multi-timeframe options (H4, M30, M15, M5, M1)
Shaded buy and sell zones with readable area labels
Daily High/Low as stop-loss reference lines
Yesterday's High/Low as breakout boundary
Optional Previous Day HO/LO, Weekly High/Low, and Monthly High/Low
Equidistant pip-projection lines from the HO or LO level
Confirmed-bar signal arrows with ATR range filter and tolerance input
Info panel: live status, Range/ATR %, day range in pips, ATR in pips, entry and SL levels, bar countdown timer
Color-coded legend table
8 individual alert conditions including dynamic price alerts
Timeframe warning when applied to daily or higher charts
Duplicate price filter to prevent overlapping labels
All drawings rendered at the last bar for performance
Apply on intraday timeframes (M5 to H1 work best)
Primarily designed for Forex — pip value is auto-calculated from syminfo.mintick
Works on any instrument but pip labeling is calibrated for 5-digit and 3-digit FX pairs
The indicator does not provide financial advice. All levels are reference points — manage risk independently
Credits
Original HOLO concept and MetaTrader 4 indicator by thi4gon. This TradingView implementation was built from the ground up in Pine Script v5 by the Amorphos team, adding multi-timeframe support, signal filtering, dynamic alerts, and a full visual dashboard on top of thi4gon's original framework.
This is a Pine Script v5 conversion of the HOLO concept originally coded by thi4gon for MetaTrader 4. Full credit to thi4gon for the original systems logic and mean-reversion framework — this publication brings that idea into TradingView with a fully rebuilt engine, multi-timeframe support, signal filtering, an info panel, and alert conditions.
HOLO stands for Highest Open / Lowest Open. The core idea: the highest and lowest opening prices recorded by intraday bars since the day started act as significant mean-reversion levels. Price tends to return to these open extremes after deviating from them. The HO is a potential sell level; the LO is a potential buy level. Stop-loss reference is the current day's running high (for sells) and running low (for buys).
How It Works
At the start of each new day, the engine resets and begins tracking the highest open and lowest open printed by H1 candles (or any selected timeframe). These levels are not highs and lows of the candle — they are the open prices, making them distinct from standard session high/low tools.
A trade setup occurs when:
A bar opens inside the zone between the HO/LO and the corresponding daily extreme (sell zone = between HO and Daily High; buy zone = between Daily Low and LO)
Price touches the HO or LO level during that bar
Price has not broken outside yesterday's high/low range (breakout filter)
The current H1 bar is not the bar that created the HO/LO (breakout bar filter)
Today's range has reached at least 50% of the daily ATR (optional, enabled by default)
All signal evaluation is done on confirmed closed bars only — no repainting.
Features
H1 HO/LO primary levels with multi-timeframe options (H4, M30, M15, M5, M1)
Shaded buy and sell zones with readable area labels
Daily High/Low as stop-loss reference lines
Yesterday's High/Low as breakout boundary
Optional Previous Day HO/LO, Weekly High/Low, and Monthly High/Low
Equidistant pip-projection lines from the HO or LO level
Confirmed-bar signal arrows with ATR range filter and tolerance input
Info panel: live status, Range/ATR %, day range in pips, ATR in pips, entry and SL levels, bar countdown timer
Color-coded legend table
8 individual alert conditions including dynamic price alerts
Timeframe warning when applied to daily or higher charts
Duplicate price filter to prevent overlapping labels
All drawings rendered at the last bar for performance
Apply on intraday timeframes (M5 to H1 work best)
Primarily designed for Forex — pip value is auto-calculated from syminfo.mintick
Works on any instrument but pip labeling is calibrated for 5-digit and 3-digit FX pairs
The indicator does not provide financial advice. All levels are reference points — manage risk independently
Credits
Original HOLO concept and MetaTrader 4 indicator by thi4gon. This TradingView implementation was built from the ground up in Pine Script v5 by the Amorphos team, adding multi-timeframe support, signal filtering, dynamic alerts, and a full visual dashboard on top of thi4gon's original framework.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
CognitiveAlpha
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
CognitiveAlpha
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.