OPEN-SOURCE SCRIPT
NW Envelope Non-Repainting
## How to Read the Signals
### BUY Signal
A BUY signal occurs when the price moves below or near the lower band and then crosses back above it.
More reliable BUY conditions:
* The NW middle line should be sloping upward.
* The price should preferably be above the 200 EMA.
* The candle should close above the lower band.
* RSI should turn upward from the 30–45 zone.
* The signal candle should be stronger than average or supported by high volume.
### SELL Signal
A SELL signal occurs when the price rises toward or above the upper band and then moves back below it.
More reliable SELL conditions:
* The NW middle line should be sloping downward.
* The price should preferably be below the 200 EMA.
* The candle should close below the upper band.
* RSI should turn downward from the 55–70 zone.
* The sell candle should show strong rejection.
## Best Timeframes
**15 minutes:** The most balanced option for intraday trading.
**30 minutes:** Fewer signals, but generally cleaner setups.
**1 hour:** More reliable for swing trading.
**5 minutes:** Suitable for scalping, but false signals may increase.
**1–3 minutes:** Not recommended with the current settings.
For beginners, combining the **15-minute chart with a 1-hour trend confirmation** is a good approach. For example, when the 1-hour chart is in an uptrend, you can focus only on BUY signals on the 15-minute chart.
### BUY Signal
A BUY signal occurs when the price moves below or near the lower band and then crosses back above it.
More reliable BUY conditions:
* The NW middle line should be sloping upward.
* The price should preferably be above the 200 EMA.
* The candle should close above the lower band.
* RSI should turn upward from the 30–45 zone.
* The signal candle should be stronger than average or supported by high volume.
### SELL Signal
A SELL signal occurs when the price rises toward or above the upper band and then moves back below it.
More reliable SELL conditions:
* The NW middle line should be sloping downward.
* The price should preferably be below the 200 EMA.
* The candle should close below the upper band.
* RSI should turn downward from the 55–70 zone.
* The sell candle should show strong rejection.
## Best Timeframes
**15 minutes:** The most balanced option for intraday trading.
**30 minutes:** Fewer signals, but generally cleaner setups.
**1 hour:** More reliable for swing trading.
**5 minutes:** Suitable for scalping, but false signals may increase.
**1–3 minutes:** Not recommended with the current settings.
For beginners, combining the **15-minute chart with a 1-hour trend confirmation** is a good approach. For example, when the 1-hour chart is in an uptrend, you can focus only on BUY signals on the 15-minute chart.
Open-source script
In true PulseWire 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 PulseWire. Read more in the Terms of Use.
Open-source script
In true PulseWire 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 PulseWire. Read more in the Terms of Use.