OPEN-SOURCE SCRIPT
PAC INDEX
This indicator plots a Price Action Channel (PAC) using a Smoothed Moving Average (SMMA) of highs and lows, and overlays these bands directly on the main chart. It uses standard Heiken Ashi calculations (not the built-in function) to highlight price structure with an emphasis on trend exhaustion and volatility.
Features
Plots PAC High and PAC Low –
Customizable channel boundaries using SMMA smoothing (user sets lookback length).
Heiken Ashi Calculation (manual):
Heiken Ashi open, close, high, and low are computed per-bar for deeper trend insight.
Visual Channel Fill:
The space between PAC High and Low is filled for instant trend identification.
Condition Markers:
Dots appear above bars when the Heiken Ashi close exceeds the PAC High (potential overextension or momentum).
Dots appear below bars when the Heiken Ashi close falls below the PAC Low (potential exhaustion or reversal).
Configurable:
User can adjust the smoothing length to fit different trading styles or market volatility.
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How To Use
Notes
Features
Plots PAC High and PAC Low –
Customizable channel boundaries using SMMA smoothing (user sets lookback length).
Heiken Ashi Calculation (manual):
Heiken Ashi open, close, high, and low are computed per-bar for deeper trend insight.
Visual Channel Fill:
The space between PAC High and Low is filled for instant trend identification.
Condition Markers:
Dots appear above bars when the Heiken Ashi close exceeds the PAC High (potential overextension or momentum).
Dots appear below bars when the Heiken Ashi close falls below the PAC Low (potential exhaustion or reversal).
Configurable:
User can adjust the smoothing length to fit different trading styles or market volatility.
⸻
How To Use
- Add to any chart and timeframe (works on all symbols).
- Watch the channel:
- When Heiken Ashi closes break above the PAC High, price may be in a strong trend or overbought zone.
- When Heiken Ashi closes break below the PAC Low, price may be in an exhaustion or potential reversal zone.
- Adjust the “Length” parameter for tighter (shorter) or wider (longer) channels depending on your strategy.
- Use as a filter for trade entries/exits or to confirm momentum and exhaustion within your price action framework
Notes
- All calculations are performed directly in the script for transparency and customization.
- This indicator is not a buy/sell signal system—interpret breakouts and channel extremes within your own trade plan.
Open-source script
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.
Disclaimer
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.
Open-source script
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.
Disclaimer
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.