OPEN-SOURCE SCRIPT
HL ±Pips Zone
## **Overview**
This indicator highlights the most critical danger zones for scalpers:
the **±2 pips area around the most recent High and Low**.
These zones often attract liquidity, cause fake breakouts, and lead to stop hunts—especially in USDJPY scalping.
Use this tool as a **dynamic “no-entry buffer”** to avoid low-probability trades.
---
## **Purpose**
* Prevent entries near recent highs/lows where reversals are common
* Filter out low-quality signals from your existing strategy
* Reduce consecutive losses during range conditions
* Improve win-rate by avoiding fake breakouts and wick-based stop-outs
---
## **How It Works**
* The indicator identifies the **recent highest high** and **recent lowest low** within a user-defined lookback period.
* It then draws:
* **Red Zone:** ±pips around the recent high
* **Blue Zone:** ±pips around the recent low
* These zones represent areas where liquidity traps and false breakouts frequently occur.
---
## **How to Use**
### **1. Avoid entering positions inside the colored zones**
Even if your strategy generates a signal, skip the trade when price is inside the ±pips buffer.
### **2. Enter only after a clean breakout**
Look for:
* A candle **body** closing outside the zone
* A small pullback
* Confluence with your existing entry criteria
### **3. Identify trend vs. range easily**
* Price sticking inside the zones → **range**
* Price staying outside → **trend**
### **4. Better stop-loss handling**
Using the **candle close** beyond the zone for stop-loss improves trade stability and prevents noise-based stop-outs.
---
## **Best For**
* USDJPY scalping (1m / 30s)
* Breakout & momentum strategies
* The H Alert–based setups
* Traders avoiding liquidity traps
---
## **Inputs**
* **Lookback Period:** Number of bars to define recent high/low
* **Pips Offset:** Distance above/below recent high/low
* **Pip Size:** Automatically calculated for FX pairs
---
## **Benefits**
* Avoids entries at the top/bottom of ranges
* Prevents fake breakout losses
* Provides clear visual “danger zones”
* Works perfectly as a filter for any entry strategy
---
## **Summary**
**Trade outside the colored zones.
Avoid entries inside them.**
This simple rule can dramatically improve consistency and reduce unnecessary losses—especially in fast scalping environments.
---
## **Notes**
* Optimized for USDJPY 1m/30s
* Works across all FX pairs with correct pip settings
* No repainting
---
This indicator highlights the most critical danger zones for scalpers:
the **±2 pips area around the most recent High and Low**.
These zones often attract liquidity, cause fake breakouts, and lead to stop hunts—especially in USDJPY scalping.
Use this tool as a **dynamic “no-entry buffer”** to avoid low-probability trades.
---
## **Purpose**
* Prevent entries near recent highs/lows where reversals are common
* Filter out low-quality signals from your existing strategy
* Reduce consecutive losses during range conditions
* Improve win-rate by avoiding fake breakouts and wick-based stop-outs
---
## **How It Works**
* The indicator identifies the **recent highest high** and **recent lowest low** within a user-defined lookback period.
* It then draws:
* **Red Zone:** ±pips around the recent high
* **Blue Zone:** ±pips around the recent low
* These zones represent areas where liquidity traps and false breakouts frequently occur.
---
## **How to Use**
### **1. Avoid entering positions inside the colored zones**
Even if your strategy generates a signal, skip the trade when price is inside the ±pips buffer.
### **2. Enter only after a clean breakout**
Look for:
* A candle **body** closing outside the zone
* A small pullback
* Confluence with your existing entry criteria
### **3. Identify trend vs. range easily**
* Price sticking inside the zones → **range**
* Price staying outside → **trend**
### **4. Better stop-loss handling**
Using the **candle close** beyond the zone for stop-loss improves trade stability and prevents noise-based stop-outs.
---
## **Best For**
* USDJPY scalping (1m / 30s)
* Breakout & momentum strategies
* The H Alert–based setups
* Traders avoiding liquidity traps
---
## **Inputs**
* **Lookback Period:** Number of bars to define recent high/low
* **Pips Offset:** Distance above/below recent high/low
* **Pip Size:** Automatically calculated for FX pairs
---
## **Benefits**
* Avoids entries at the top/bottom of ranges
* Prevents fake breakout losses
* Provides clear visual “danger zones”
* Works perfectly as a filter for any entry strategy
---
## **Summary**
**Trade outside the colored zones.
Avoid entries inside them.**
This simple rule can dramatically improve consistency and reduce unnecessary losses—especially in fast scalping environments.
---
## **Notes**
* Optimized for USDJPY 1m/30s
* Works across all FX pairs with correct pip settings
* No repainting
---
開源腳本
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.
免責聲明
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.
開源腳本
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.
免責聲明
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.