Bright Future Enhanced v2

"Bright Future Enhanced v2" Scalping Indicator

This sophisticated Pine Script indicator combines 12+ technical tools for 5-minute scalping, featuring multi-timeframe confirmation, adaptive filters, and professional risk management. Here's the breakdown:

Core Components
Core Components
EWO Hybrid Oscillator

Dual MA ratio (3/21 EMAs or 5/34 SMAs)

Signal line with adjustable delay (3 periods)

Requires 0.05 gap threshold for valid crossover

Trend Quad-Filter System

ADX (6-period) with 25+ strength threshold

Heikin Ashi Smoothed Bias (30-period EMA)

Higher TF ADX alignment (15-min timeframe)

MA Filter (20-period EMA/SMA price position)

Momentum Confirmation

RSI (6-period) with 75/25 thresholds

CCI (6-period) with 75-level cross

Rate of Change (5-period)

Awesome Oscillator (5/34 differential)

Smart Risk Management
ATR-Based Stops
profitTarget = 1.5 * ATR(10) | stopLoss = 1 * ATR(10)

Volatility Filter
Allows trades only when ATR is between 0.3-1.2x of 14-period average

Signal Reset Logic
Cancels opposite positions on counter-signals