HMM-Style Market Regime

Visual outputs rendered by the script

Background color bands (bgcolor)

Green when regime == Bull

Red when regime == Bear

Gray when regime == Sideways (uncertain)

Labels (label.new)

“Bull” in the top-left corner when entering a Bull regime

“Bear” when entering a Bear regime

“Sideways” when entering a Sideways regime

Regime-change arrows (plotshape)

▲ Up arrow when the regime flips to Bull

▼ Down arrow when the regime flips to Bear

Optional metric plots

A chart of the return Z-score and volatility Z-score (when debug mode is enabled)