Ticker Pulse Meter Basic

Pairs nicely with the Contrarian 100 MA located here:

and the Enhanced Stock Ticker with 50MA vs 200MA located here:

Description
The Ticker Pulse Meter Basic is a dynamic Pine Script v6 indicator designed to provide traders with a visual representation of a stock’s price position relative to its short-term and long-term ranges, enabling clear entry and exit signals for long-only trading strategies. By calculating three normalized metrics—Percent Above Long & Above Short, Percent Above Long & Below Short, and Percent Below Long & Below Short—this indicator offers a unique "pulse" of market sentiment, plotted as stacked area charts in a separate pane. With customizable lookback periods, thresholds, and signal plotting options, it empowers traders to identify optimal entry points and profit-taking levels. The indicator leverages Pine Script’s force_overlay feature to plot signals on either the main price chart or the indicator pane, making it versatile for various trading styles.

Key Features
Pulse Meter Metrics:
Computes three percentages based on short-term (default: 50 bars) and long-term (default: 200 bars) lookback periods:
Percent Above Long & Above Short: Measures price strength when above both short and long ranges (green area).

Percent Above Long & Below Short: Indicates mixed momentum (orange area).

Percent Below Long & Below Short: Signals weakness when below both ranges (red area).

Flexible Signal Plotting:
Toggle between plotting entry (blue dots) and exit (white dots) signals on the main price chart (location.abovebar/belowbar) or in the indicator pane (location.top/bottom) using the Plot Signals on Main Chart option.

Entry/Exit Logic:
Long Entry: Triggered when Percent Above Long & Above Short crosses above the high threshold (default: 20%) and Percent Below Long & Below Short is below the low threshold (default: 40%).

Long Exit: Triggered when Percent Above Long & Above Short crosses above the profit-taking level (default: 95%).

Visual Enhancements:
Plots stacked area charts with semi-transparent colors (green, orange, red) for intuitive trend analysis.

Displays threshold lines for entry (high/low) and profit-taking levels.

Includes a ticker and timeframe table in the top-right corner for quick reference.

Alert Conditions: Supports alerts for long entry and exit signals, integrable with TradingView’s alert system for automated trading.

Technical Innovation: Combines normalized price metrics with Pine Script v6’s force_overlay for seamless signal integration on the price chart or indicator pane.

Technical Details
Calculation Logic:
Uses confirmed bars (barstate.isconfirmed) to calculate metrics, ensuring reliability.

Short-term percentage: (close[1] - lowest(low, lookback_short)) / (highest(high, lookback_short) - lowest(low, lookback_short)).

Long-term percentage: (close[1] - lowest(low, lookback_long)) / (highest(high, lookback_long) - lowest(low, lookback_long)).

Derived metrics:
pct_above_long_above_short = (pct_above_long * pct_above_short) * 100.

pct_above_long_below_short = (pct_above_long * (1 - pct_above_short)) * 100.

pct_below_long_below_short = ((1 - pct_above_long) * (1 - pct_above_short)) * 100.

Signal Plotting:
Entry signals (long_entry) use ta.crossover to detect when pct_above_long_above_short crosses above entryThresholdhigh and pct_below_long_below_short is below entryThresholdlow.

Exit signals (long_exit) use ta.crossover for pct_above_long_above_short crossing above profitTake.

Signals are plotted as tiny circles with force_overlay=true for main chart or standard plotting for the indicator pane.

Performance Considerations: Optimized for efficiency by calculating metrics only on confirmed bars and using lightweight plotting functions.

How to Use
Add to Chart:
Copy the script into TradingView’s Pine Editor and apply it to your chart.

Configure Settings:
Short Lookback Period: Adjust the short-term lookback (default: 50 bars) for sensitivity.

Long Lookback Period: Set the long-term lookback (default: 200 bars) for broader context.

Entry Thresholds: Modify high (default: 20%) and low (default: 40%) thresholds for entry conditions.

Profit Take Level: Set the exit threshold (default: 95%) for profit-taking.

Plot Signals on Main Chart: Check to display signals on the price chart; uncheck for the indicator pane.

Interpret Signals:
Long Entry: Blue dots indicate a strong bullish setup when price is high relative to both lookback ranges and weakness is low.

Long Exit: White dots signal profit-taking when strength reaches overbought levels.

Use the stacked area charts to assess trend strength and momentum.

Set Alerts:
Create alerts for Long Entry and Long Exit conditions using TradingView’s alert system.

Customize Visuals:
Adjust colors and thresholds via TradingView’s settings for better visibility.

The ticker table displays the symbol and timeframe in the top-right corner.

Example Use Cases
Swing Trading: Use entry signals to capture short-term bullish moves within a broader uptrend, exiting at profit-taking levels.

Trend Confirmation: Monitor the green area (Percent Above Long & Above Short) for sustained bullish momentum.

Market Sentiment Analysis: Use the stacked areas to gauge bullish vs. bearish sentiment across timeframes.

Notes
Testing: Backtest the indicator on your chosen market and timeframe to validate its effectiveness.

Compatibility: Built for Pine Script v6 and tested on TradingView as of June 20, 2025.

Limitations: Signals are long-only; adapt the script for short strategies if needed.

Enhancements: Consider adding a histogram for the difference between metrics or additional thresholds for nuanced trading.

Acknowledgments
Inspired by public Pine Script examples and designed to simplify complex market dynamics into a clear, actionable tool. For licensing or support, contact Chuck Schultz (chuckaschultz) on TradingView. Share feedback in the comments, and happy trading!