GT Bands + Pivot + RSI [Tom Strict 2SD + Dashboard Clean]

Here’s the English explanation of the indicator you just installed — “GT Bands + Pivot + RSI [Tom Strict 2SD + Dashboard]” — written clearly and directly 👇

🔹 1. Core Idea

This indicator finds high-probability reversals — moments when price overextends beyond volatility boundaries and then snaps back.
It combines:

Bollinger Bands (2 standard deviations)

RSI Overbought/Oversold levels

EMA Trend Filter

Pivot confirmation

In plain English:

When price pierces outside the 2σ Bollinger Band and then closes back inside, with RSI confirming exhaustion and EMA trend alignment — the indicator fires a BUY or SELL signal.

🔹 2. Signal Logic

For a BUY:

Price dips below the lower 2σ band (dn2)

Closes back inside the band (above dn1)

RSI ≤ 30

EMA Fast > EMA Slow (uptrend confirmation)

Price above EMA Mid (trend filter)

For a SELL:

Price spikes above the upper 2σ band (up2)

Closes back inside the band (below up1)

RSI ≥ 70

EMA Fast < EMA Slow (downtrend confirmation)

Price below EMA Mid (trend filter)

All conditions must be met before a signal appears — that’s why it’s very accurate (not noisy).

🔹 3. Non-Repainting

It uses ta.pivothigh / ta.pivotlow with rightBars = 2, meaning it waits for 2 confirming candles before confirming a pivot.
✅ Once the signal appears, it never disappears or repaints afterward.

🔹 4. Take Profit & Stop Loss

It automatically calculates TP1, TP2, TP3, and SL levels using ATR (Average True Range):

Level Formula Description
TP1 Entry ± (0.8 × ATR) First take profit
TP2 Entry ± (1.2 × ATR) Second take profit
TP3 Entry ± (1.6 × ATR) Final target
SL Beyond recent swing ± (0.4 × ATR) Safety stop

ATR adapts to volatility, so the distances scale automatically with market conditions.

🔹 5. Dashboard (Top-Right Corner)

Shows the latest trade direction (BUY/SELL)

Displays Entry, TP1–TP3, and SL levels

Trend background color changes:
🟢 Green = Uptrend 🔴 Red = Downtrend ⚪ Gray = Sideways

This gives a live status view of your current trade context.