PanjjiAlgo V1 [Alpha]

PanjjAlgo V1 [Alpha] is a price–action based signal toolkit designed for traders who want clean entries and structured risk management right on the chart.

The script combines engulfing candle patterns, RSI filters, ATR-based volatility and a candle-stability check to highlight high–conviction BUY and SELL zones only when the move is confirmed. To reduce noise, you can optionally disable repeating signals so clusters of overlapping arrows are filtered out.

Each signal automatically generates TP & SL levels based on ATR, with a configurable Risk:Reward ratio (1:1, 2:3, 1:2, 1:4) and a TP/SL multiplier to match your personal risk profile. TP & SL prices are plotted directly on the chart for quick decision-making.

Cosmetic controls allow you to customize label style (text bubble / triangle / arrow), label size and colors so PanjjiAlgo fits seamlessly into your chart layout, whether you are scalping intraday or swing trading higher timeframes.

This script is an experimental alpha version and is intended as a decision-support tool only. It does not guarantee profits and should always be used together with your own analysis and risk management.