Tractor-Trend V5

Description of the indicator and the principle of its operation
This indicator is a multifunctional tool for analyzing trends and determining entry and exit points in the market. It uses a combination of moving averages, linear regression, volatility levels, and Fibonacci levels to build channels, identify trends, and generate signals. The indicator also includes visualization of overbought and oversold zones, as well as target levels for long and short positions.

The main components of the indicator
The Base Line:

The baseline is calculated based on a moving average (SMA or EMA) or linear regression.

The user can select the data source (for example, hl2 is the average value between high and low), the length of the moving average, and the length of the linear regression.

The baseline is used as a reference level to determine the trend.

Trend Channel:

The channel is built around a baseline using volatility (the difference between high and low).

The user can set the distance between the channel boundaries and the baseline.

The channel includes upper and lower bounds, as well as extended levels (extreme levels).

Golden Pocket:

This is the zone between the baseline and the 0.618 Fibonacci level.

The zone is used to identify potential reversal points or trend continuation.

Input signals (Long/Short):

Entry signals are generated when the price closes above or below the baseline and channel boundaries.

The indicator tracks the beginning and end of trends to avoid false signals.

Target Levels:

For long and short positions, target levels are calculated based on Fibonacci extensions.

The user can set up a multiplier for the target levels.

Overbought and Oversold zones (Overbought/Oversold):

The indicator determines the overbought and oversold zones based on the price crossing the channel boundaries.

There are also extreme zones that show stronger overbought/oversold levels.

Alerts:

The indicator generates alerts when the price breaks through the upper or lower boundary of the channel.

Advantages of the indicator
Flexibility of settings: the user can adapt the indicator to his preferences.

Multifunctional: the indicator combines elements of trend analysis, Fibonacci levels and volatility.

Visualization: clear representation of key levels and zones.

Recommendations
Use the indicator in combination with other technical analysis tools to confirm the signals.

Test the settings on historical data before using them in real trading.

Take into account market conditions (volatility, trend, sideways movement) when interpreting signals.

This indicator is suitable for traders who prefer to work with trend strategies and use Fibonacci levels to identify targets and pivot points.

Pine Script®