OPEN-SOURCE SCRIPT
Model Follower
This indicator maps price structure using confirmed candle closes rather than wicks — a new high or low only registers once price actually closes beyond the prior range, filtering out spikes that don't follow through. Each new range is anchored to the true swing point: the last opposing candle (or any wick that pierced past it) before the break, giving a clean staircase view of how structure is actually developing.
From that structure, it plots two live target references:
Local Target (orange) — tracks the current extreme of whichever direction price is presently trending, on your chart's own timeframe. Pushing higher, it follows the developing high; the moment structure turns lower, it immediately switches to the developing low. This updates in real time and reflects what's happening on your timeframe right now — including during a countertrend pullback inside a larger trend.
HTF Target (blue) — the same structure logic, calculated independently on a higher timeframe pulled automatically based on your current chart's timeframe. This gives a read on where price is headed on a broader scale without needing to manually flip charts.
How to use it: when the local and HTF targets are pointing the same direction, the immediate move has higher-timeframe backing. When they diverge — say, local structure just turned bullish but the HTF target is still pointing down — that's often a sign you're looking at a countertrend bounce or a pullback rather than a fresh trend continuation, not a fully confirmed reversal yet.
Note: this tool intentionally doesn't auto-label market phases (accumulation/distribution) or draw supply/demand zones — reading trend context and zone validity is left to the trader, since that involves judgment a mechanical rule can't fully capture. This indicator is built to support that reading, not replace it.
From that structure, it plots two live target references:
Local Target (orange) — tracks the current extreme of whichever direction price is presently trending, on your chart's own timeframe. Pushing higher, it follows the developing high; the moment structure turns lower, it immediately switches to the developing low. This updates in real time and reflects what's happening on your timeframe right now — including during a countertrend pullback inside a larger trend.
HTF Target (blue) — the same structure logic, calculated independently on a higher timeframe pulled automatically based on your current chart's timeframe. This gives a read on where price is headed on a broader scale without needing to manually flip charts.
How to use it: when the local and HTF targets are pointing the same direction, the immediate move has higher-timeframe backing. When they diverge — say, local structure just turned bullish but the HTF target is still pointing down — that's often a sign you're looking at a countertrend bounce or a pullback rather than a fresh trend continuation, not a fully confirmed reversal yet.
Note: this tool intentionally doesn't auto-label market phases (accumulation/distribution) or draw supply/demand zones — reading trend context and zone validity is left to the trader, since that involves judgment a mechanical rule can't fully capture. This indicator is built to support that reading, not replace it.
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.