OPEN-SOURCE SCRIPT
DT3 [by KeremErtem]
Mis à jour
In this script the trend of the price is evaluated by the slope of rate of changes.
The signal line is calculated by taking the average of "Linear Regression", "Relative Strength", "Wave Trend" and "Tillson's T3" by equal weights as "DT3".
The "Nadaraya Watsons Kernel Regression" of the signal is used to calculate the main trend line.
The trend channel is calculated by taking the Arnaud Legoux Moving Average of DT3 as the center line. Upper and lower channel borders are also calculated by using fibo factors as multipliers.
Hence the trader can use the signal line when it crosses up the main trend line up as a buy signal. And when the signal line crosses down the main trend line down as a sell signal.
Also when the price is lower or upper than the center line of the channel, it can be evaluated as resistance and support lines respectively.
The signal line is calculated by taking the average of "Linear Regression", "Relative Strength", "Wave Trend" and "Tillson's T3" by equal weights as "DT3".
The "Nadaraya Watsons Kernel Regression" of the signal is used to calculate the main trend line.
The trend channel is calculated by taking the Arnaud Legoux Moving Average of DT3 as the center line. Upper and lower channel borders are also calculated by using fibo factors as multipliers.
Hence the trader can use the signal line when it crosses up the main trend line up as a buy signal. And when the signal line crosses down the main trend line down as a sell signal.
Also when the price is lower or upper than the center line of the channel, it can be evaluated as resistance and support lines respectively.
Notes de version
What is new in this script?The slope of the rate of change in price is evaluated as the main source for trend estimation.
The 'Trend Line Estimate' is derived by using "Nadaraya Watson: Rational Quadratic Kernel Regression" of the source.
The 'DT3 Signal' is derived from "Linear Regression", "Wave Trend", "Trix" and "Tillson's T3".
Hence, the trader may use the DT3 signal line as a trigger; when it crosses up the trend estimate line up as a buy signal, and when it crosses down the trend estimate line down as a sell signal.
Additionally the DT3 signal and price pivots are evaluated to find positive and negative divergences. So, one can find the regular and hidden 'Buy' and 'Sell' labels as a trigger for trading.
Finally, the DT3 trend channel is plotted by taking the Arnaud Legoux Moving Average of the DT3 signal as the center line. Upper and lower channel borders are also calculated by using fibo factors as multipliers. Hence, when the price is lower or upper than the center line of the channel, it can be evaluated as resistance and support lines respectively.
Thanks for your supports and comments.
Script open-source
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