Red Folder News Pass Your Eval [HERMAN]

Red Folder News Levels [Herman]

This indicator provides visual reference levels around high-impact economic news events (commonly called “red folder” news) to help traders prepare for potential market volatility.

It is strictly educational and informational and does not place trades or guarantee any results.

What This Indicator Does:

-Plots dynamic price reference levels above and below the current market price.
-Displays Take Profit (TP) reference levels a fixed distance from the entry levels.

Shows optional on-chart tables:

Instruction Table – summarizes how to interpret the plotted levels.

Red Folder News Table – lists key economic events (CPI, NFP, FOMC, ISM, etc.) and ranks them by typical market impact.

Visual Elements on the Chart:
-Green Dashed Line → Upper reference level (potential long-side zone).

-Solid Green Line → Take-profit reference above the green dashed line.

-Red Dashed Line → Lower reference level (potential short-side zone).

-Solid Red Line → Take-profit reference below the red dashed line.

These levels update dynamically with each new bar, allowing you to see real-time visual guides around market-moving news releases.

Settings & What They Do:
-Entry Settings
-Manual Entry Offset (pts)

Distance in points above and below the current price to place the dashed reference levels.

Example: 4.0 means the green/red dashed lines appear 4 points above and below the current market price.

Instruction Table
Show Instruction Table (true/false)

If enabled, displays a step-by-step usage table on the top-right of the chart.

Explains how to interpret the visual levels in a simple flow.

Red Folder News Table
Show Red Folder News Table (true/false)

If enabled, displays a reference list of high-impact economic events on the bottom-right of the chart.

Events are ranked by market impact (⭐ to ⭐⭐⭐⭐⭐).

Theme Settings
Table Theme (Dark/Light)

Switch between a dark or light theme for all on-chart tables.

Adjusts the background and text colors to improve visibility depending on your chart style.

Note: The TP distance is fixed at 32 points and is automatically calculated from the entry lines.

How to Use (Educational Only)
Add the indicator to your chart and set your preferred Manual Entry Offset.

Check the Red Folder News Table to know which events typically generate higher volatility.

Observe the visual levels before high-impact economic releases.

Use them purely as reference zones for your own manual analysis and risk management.

⚠️ Disclaimer:

This script is for educational and informational purposes only.

It does not execute trades, provide financial advice, or guarantee performance.

Always trade responsibly and use your own judgment and risk management.

This description:
✅ Explains logic, visuals, and settings
✅ Avoids buy/sell instructions and profit promises
✅ Meets TradingView House Rules