AlgoNexta Bow & Arrow: dual-timeframe MACD corrections and hidden-divergence signals with trend, range, session, and alert controls.
Vision Grade
36.5
E · LOW confidence · E2
Published by AlgoNexa. AlgoNexa builds and documents evidence-first trading tools so you can inspect the logic before using it.About AlgoNexaIndicator library
Published Aug 9, 2026#macd#hidden-divergence#ema#adx#atr#overlay#indicator#pinescript-v6
How it works
Read the logic before you use it.
1
When it signals
A correction-release signal needs a fast MACD cross in the slow-MACD regime after an ATR-normalized correction. Hidden divergence instead compares confirmed price pivots with the selected fast-MACD oscillator, then waits for the selected confirmation mode.
2
What confirms it
The default EMA filter requires EMA 60 versus EMA 240 alignment and a directionally sloped EMA 240. The default Balanced range filter also requires two of the ADX, EMA-separation, and slow-MACD-strength conditions.
3
How risk is framed
On an accepted signal, the optional projection uses the signal close and a pivot-based or ATR-based stop calculation. It draws visual reward levels at the configured 1R, 2R, and 3R defaults; these are not orders.
Walkthrough
Watch how it reads the chart.
Live market chart
The logic on real candles.
Backtest evidence
What the numbers actually show.
E0 · Reconstructed reference
algonexta-reference · Yahoo Finance · EURUSD · 1h
Net profit
0.0190
Max drawdown
0.0098
Trades
72
Symbol · TF
EURUSD · 1h
Equity curve
Reference trades (144)▾
Time
Side
Price
Jun 22, 04:00 AM
short
1.14587
Jun 22, 07:00 PM
exit
1.14248
Jun 23, 02:00 AM
long
1.14299
Jun 23, 07:00 AM
exit
1.14133
Jun 23, 07:00 AM
short
1.14155
Jun 23, 03:00 PM
exit
1.13803
Jun 23, 09:00 PM
long
1.13882
Jun 24, 12:00 AM
exit
1.13770
Jun 24, 06:00 AM
short
1.13623
Jun 24, 12:00 PM
exit
1.13306
Jun 24, 03:00 PM
long
1.13533
Jun 25, 11:00 AM
exit
1.13366
Jun 25, 11:00 AM
short
1.13404
Jun 25, 12:00 PM
exit
1.13601
Jun 25, 01:00 PM
long
1.13649
Jun 26, 12:00 AM
exit
1.13688
Jun 26, 12:00 AM
short
1.13688
Jun 26, 04:00 AM
exit
1.13792
Jun 26, 04:00 AM
long
1.13792
Jun 26, 09:00 AM
exit
1.14155
Jun 26, 05:00 PM
short
1.13895
Jun 29, 06:00 AM
exit
1.14051
Jun 29, 06:00 AM
long
1.14181
Jun 29, 08:00 AM
exit
1.14011
Jun 30, 12:00 AM
short
1.14194
Jun 30, 04:00 AM
exit
1.13957
Jun 30, 02:00 PM
long
1.14364
Jun 30, 04:00 PM
exit
1.14157
Jul 1, 01:00 AM
short
1.14077
Jul 1, 12:00 PM
exit
1.13744
Jul 2, 01:00 AM
long
1.13843
Jul 2, 08:00 AM
exit
1.14151
Jul 2, 10:00 PM
short
1.14312
Jul 3, 04:00 AM
exit
1.14458
Jul 3, 05:00 AM
long
1.14508
Jul 3, 09:00 AM
exit
1.14443
Jul 3, 09:00 AM
short
1.14443
Jul 3, 11:00 AM
exit
1.14589
Jul 6, 04:00 PM
long
1.14338
Jul 7, 05:00 AM
exit
1.14351
Jul 7, 05:00 AM
short
1.14351
Jul 7, 11:00 PM
exit
1.14060
Jul 8, 05:00 AM
long
1.14233
Jul 8, 09:00 AM
exit
1.14072
Jul 8, 11:00 AM
short
1.13999
Jul 8, 04:00 PM
exit
1.14168
Jul 8, 04:00 PM
long
1.14168
Jul 9, 06:00 AM
exit
1.14433
Jul 9, 12:00 PM
short
1.14273
Jul 9, 01:00 PM
exit
1.14416
Jul 9, 01:00 PM
long
1.14416
Jul 9, 07:00 PM
exit
1.14312
Jul 9, 07:00 PM
short
1.14312
Jul 10, 12:00 AM
exit
1.14429
Jul 10, 01:00 AM
long
1.14521
Jul 10, 07:00 AM
exit
1.14403
Jul 10, 07:00 AM
short
1.14403
Jul 12, 11:00 PM
exit
1.14110
Jul 13, 07:00 AM
long
1.14273
Jul 13, 02:00 PM
exit
1.14082
Jul 13, 03:00 PM
short
1.14064
Jul 14, 03:00 AM
exit
1.13973
Jul 14, 03:00 AM
long
1.13973
Jul 14, 12:00 PM
exit
1.14454
Jul 14, 11:00 PM
short
1.14273
Jul 15, 12:00 AM
exit
1.14377
Jul 15, 12:00 AM
long
1.14377
Jul 15, 07:00 AM
exit
1.14236
Jul 15, 07:00 AM
short
1.14260
Jul 15, 02:00 PM
exit
1.14416
Jul 15, 04:00 PM
long
1.14456
Jul 16, 12:00 AM
exit
1.14735
Jul 16, 04:00 AM
short
1.14692
Jul 16, 05:00 PM
exit
1.14373
Jul 17, 06:00 AM
long
1.14534
Jul 17, 08:00 AM
exit
1.14418
Jul 17, 10:00 AM
short
1.14299
Jul 17, 02:00 PM
exit
1.14437
Jul 17, 03:00 PM
long
1.14430
Jul 19, 11:00 PM
exit
1.14303
Jul 20, 10:00 AM
short
1.14351
Jul 20, 02:00 PM
exit
1.14068
Jul 21, 01:00 AM
long
1.14181
Jul 21, 02:00 PM
exit
1.14065
Jul 21, 02:00 PM
short
1.14090
Jul 22, 02:00 AM
exit
1.14090
Jul 22, 02:00 AM
long
1.14090
Jul 23, 02:00 AM
exit
1.14270
Jul 23, 09:00 AM
short
1.14155
Jul 23, 12:00 PM
exit
1.13838
Jul 24, 12:00 AM
long
1.13869
Jul 24, 12:00 PM
exit
1.13732
Jul 24, 06:00 PM
short
1.13727
Jul 26, 11:00 PM
exit
1.13866
Jul 26, 11:00 PM
long
1.13986
Jul 27, 11:00 AM
exit
1.13895
Jul 27, 11:00 AM
short
1.13895
Jul 28, 03:00 AM
exit
1.13779
Jul 28, 03:00 AM
long
1.13779
Jul 28, 05:00 AM
exit
1.13668
Jul 28, 05:00 AM
short
1.13701
Jul 28, 08:00 AM
exit
1.13753
Jul 28, 08:00 AM
long
1.13753
Jul 28, 09:00 AM
exit
1.13624
Jul 29, 10:00 AM
short
1.13882
Jul 29, 05:00 PM
exit
1.14024
Jul 29, 06:00 PM
long
1.14534
Jul 30, 06:00 AM
exit
1.14508
Jul 30, 06:00 AM
short
1.14508
Jul 30, 09:00 AM
exit
1.14702
Jul 30, 11:00 AM
long
1.14784
Jul 30, 06:00 PM
exit
1.15289
Jul 30, 11:00 PM
short
1.15260
Jul 31, 12:00 PM
exit
1.14906
Jul 31, 06:00 PM
long
1.15340
Aug 3, 06:00 AM
exit
1.15300
Aug 3, 06:00 AM
short
1.15300
Aug 4, 05:00 AM
exit
1.15091
Aug 4, 07:00 AM
long
1.15141
Aug 4, 10:00 PM
exit
1.15344
Aug 5, 10:00 PM
short
1.15580
Aug 5, 11:00 PM
exit
1.15607
Aug 5, 11:00 PM
long
1.15607
Aug 6, 03:00 AM
exit
1.15513
Aug 7, 04:00 AM
long
1.15274
Aug 7, 12:00 PM
exit
1.15611
Aug 10, 02:00 AM
short
1.15553
Aug 10, 07:00 AM
exit
1.15650
Aug 11, 12:00 PM
long
1.15460
Aug 12, 03:00 AM
exit
1.15394
Aug 12, 03:00 AM
short
1.15380
Aug 12, 09:00 AM
exit
1.15460
Aug 12, 11:00 AM
long
1.15473
Aug 12, 04:00 PM
exit
1.15311
Aug 12, 04:00 PM
short
1.15314
Aug 13, 08:00 AM
exit
1.15274
Aug 13, 08:00 AM
long
1.15274
Aug 13, 07:00 PM
exit
1.15314
Aug 13, 07:00 PM
short
1.15314
Aug 13, 11:00 PM
exit
1.15367
Aug 13, 11:00 PM
long
1.15367
Aug 14, 07:00 AM
exit
1.15538
Aug 14, 08:00 PM
short
1.15727
Aug 14, 09:00 PM
exit
1.15727
⚠Executed from the versioned AlgoNexta IR on the same OHLC dataset used by the chart.
⚠This is an independent reference backtest; TradingView Strategy Tester remains the official comparison.
⚠This is an AI-reconstructed approximation of the script’s logic, not an execution of the exact source — verify the real script in TradingView Strategy Tester.
Vision Grade
What was measured, and how confident we are in it.
E2 · LOW confidence
VG-Signal — the measured component of Vision Grade. See the methodology for the Evidence Tier and Confidence axes it is always shown beside.
36.5
/ 100
Predictive power
22
Trading performance
16.2
Robustness
40
Risk
100
Signal-Based Performance
Signals
71
Win rate
42.3%
Profit factor
0.66
Max drawdown
0.0150
Robustness — chronological out-of-sample split
In-sample IC
—
Out-of-sample IC
—
OOS retention
—
OOS_SAMPLE_TOO_SMALL
ic here is a pooled event-conditional Spearman rank correlation (signal_strength vs forward return), not a cross-sectional factor IC — see methodology.
⚠Vision Grade measures the strength of statistical and trading-quality evidence. It does not predict future returns.
⚠A high Information Coefficient does not guarantee profitability.
⚠Trading Performance here is Signal-Based Performance, not an execution backtest against the original source.
⚠Historical results do not guarantee future performance.
⚠Only 72 valid signals (config minimum is 100) — results below are directional, not reliable.
Published by AlgoNexta, an evidence-first platform for building, reviewing, and documenting algorithmic trading tools. This page explains the script's actual logic and intended use; it does not promise profitability or replace verification in TradingView.
What it does
AlgoNexta Bow & Arrow is a chart overlay that combines two MACD configurations with optional hidden-divergence and correction-release logic. The fast oscillator uses 12/26/9 settings and the slower confirmation uses 48/104/36 settings by default; both are configurable.
Signal construction
The script can wait for a fast MACD correction and signal-line confirmation, or for a confirmed hidden-divergence pattern built from price pivots. Signals may be filtered by the 60/240 EMA trend relationship, slow-EMA slope, ADX and EMA separation. An optional London, New York, or custom session filter and a same-direction cooldown help control when markers are displayed.
What appears on the chart
Depending on the display settings, the indicator plots correction-release, hidden-divergence, and combined markers, divergence lines, EMA references, regime shading, and rejected-signal diagnostics. Alerts are available for the script's emitted signal events. It does not place orders, calculate broker fills, or guarantee that a displayed setup will continue in the indicated direction.
AlgoNexa publication note
This is an AlgoNexa publication for research and education. Confirm the source in TradingView, review the inputs for the symbol and timeframe, and validate behavior with TradingView's own chart and alert tools before relying on it.
It detects fast-MACD correction releases and confirmed hidden divergence, then accepts them only when the slow-MACD regime and enabled EMA, range, session, and spacing filters agree. The default fast MACD is 12/26/9 and the slow MACD is 48/104/36.
Do its arrows repaint?▾
Accepted arrows require `barstate.isconfirmed`, so they are produced on closed bars rather than intrabar. Hidden-divergence pivots require the default 3 right-side bars for confirmation, and their divergence lines are drawn back at the pivot locations after confirmation.
Does this indicator place trades or manage the projected stop and targets?▾
No. It is an indicator, not a strategy: the SL, TP1, TP2, and TP3 levels are visual projections from the signal close and do not place, manage, or simulate orders.
How do I create alerts?▾
Create a TradingView alert from one of the supplied conditions: B&A Buy/Sell - Any, Correction Release, Hidden Divergence, or Combined. Each alert condition is based on an accepted closed-bar signal.
What do the Balanced and Strict range filters do?▾
Balanced mode, the default, requires any two of ADX, EMA-separation, and slow-MACD-strength checks to pass. Strict requires all three, while Off bypasses this filter; the default ADX length is 14 and minimum ADX is 20.
Is Arrow.AlgoNexta financial advice, and where can I verify results?▾
No, this indicator is not financial advice and the script contains no performance claim. Use TradingView Strategy Tester or an equivalent platform with your own executable rules, costs, and market data as the source of truth for live or simulated results.
Want a version tuned to your market?
Describe the change in plain English and AlgoNexta rebuilds it as a fresh Pine v6 script — with its own explanation, evidence, and walkthrough.