TF Entry and Exit (Murrey Based)
TF Entry and Exit (Murrey Based) with Alerts
// Created & Developed by Ucsgears, based on Murrey Math Line Principle - Modified by CCB 20.03.2015 // Version 2 - March, 12 - 2015 study(title="Murrey Based Trifecta Entry and Exit", shorttitle="TRIFECTA_E_X", overlay=true, precision = 2) // Inputs length = input(100, minval = 10, title = "Look back Length") mult = input(0.125, title = "Mutiplier; Only Supports 0.125 = 1/8") bc = input(false, title = "Show 'Murrey' Bar Colors") // Donchanin Channel hi = highest(high, length) lo = lowest(low, length) range = hi - lo multiplier = (range) * mult midline = lo + multiplier * 4 oscillator = (close - midline)/(range/2) a = oscillator > 0 and oscillator < mult*2 b = oscillator > 0 and oscillator < mult*4 c = oscillator > 0 and oscillator < mult*6 d = oscillator > 0 and oscillator < mult*8 z = oscillator < 0 and oscillator > -mult*2 y = oscillator < 0 and oscillator > -mult*4 x = oscillator < 0 and oscillator > -mult*6 w = oscillator < 0 and oscillator > -mult*8 colordef = a ? #ADFF2F : b ? #32CD32 : c ? #3CB371 : d ? #008000 : z ? #CD5C5C : y ? #FA8072 : x ? #FFA07A : w ? #FF0000 : blue barChangedBear = ((oscillator[1] > 0 and oscillator[1] < mult*8) and (oscillator < 0 and oscillator > -mult*8)) ? true : false barChangedBull = ((oscillator[1] < 0 and oscillator[1] > -mult*8) and (oscillator > 0 and oscillator < mult*8)) ? true : false plotshape(barChangedBear ? oscillator : na, title="Turned Bear", style=shape.circle, color=red, location=location.abovebar) plotshape(barChangedBull ? oscillator : na, title="Turned Bull", style=shape.circle, color=lime, location=location.belowbar) // Bar Color Oversold and Overbought barcolor(bc ? colordef : na)