Trend & Regime Overlay

Relative Leg Efficiency

Relative Leg Efficiency (RLE) measures how efficiently a price leg runs from pivot to pivot. A score of 0-100 relates the direct straight line between two pivots to the actual path traveled (path efficiency), taking into account counter-pressure candles (candles running against the leg direction). Two methods for counter-pressure are available: candle count or body-weighted. Time efficiency can optionally be factored in as a speed norm or time penalty.

Screenshot coming soon

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Features

Live RLE Score (0-100) je Leg

Pfad-Effizienz: Luftlinie vs. tatsächlicher Weg

Zeiteffizienz: Geschwindigkeitsnorm oder Zeitstrafe (wählbar)

Counter-Pressure: Candle Count oder Body-Weighted

Efficiency Leg Pivot Momentum

View code on GitHub

Usage: Open the Pine Editor on TradingView, copy the code from the GitHub repository and paste it.

This script is an idea for developing your own Pine Script indicators. It does not constitute investment advice and serves exclusively as technical learning material. Use at your own risk.

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