These filters are described in the the book (Swedish):
"Boken om Gerillatrading" by Johan Hellström, Peter Nilsson, Johnny Torssell
The panel consists of three rows defined as:
Market Trend : 'green' if a positive Market Trend (choose the relevant to you!)
Turn Of the Month (TOM) : 'green' for the days between the 24:th and the 3:d of the month
: High-Volatility(yellow), Medium-Vol(orange), Low-Vol(red)
The filters, that can be used independently, will improve the result of the trade signal.
According to the book, 'High-Volatility' is the most important followed by 'TOM'
and then a positive 'Market Trend'.
NOTE: The Market Filter is a daily MA-365 of the relevant Stock Index, or a MA-200 of the price, choose accordingly!
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.