UCS_TTM - Reversion Bands
Ok, Here we go - Version 1 of TTM Reversion Band goes live.
Link to TTM Reversion Band - www.tradethemarkets....products/item343.cfm
Link to TTM Reversion Band Guide - kb.simplertrading.com/reversion-bands/
John Carters Mastering the trade - www.amazon.com/Maste...niques/dp/0071775145
For the amount of information this has, the price tag is not hefty.
John's RTM Chapter Synopsis - www.tradethemarkets....eversion-to-mean.cfm
What did I modify?
1. Automated the Daily + and Intraday settings. So Switching to intraday will change the setting automatically.
2. Added text callouts for RTM condition
a. John Carter's Indicator
b. Slope Based (my addition).
Future Improvement Planned.
1. Will Convert this into a system based on John's Indicator from TS.
2. Custom Options for Slope and MA setting for Trade filter.
Link to TTM Reversion Band - www.tradethemarkets....products/item343.cfm
Link to TTM Reversion Band Guide - kb.simplertrading.com/reversion-bands/
John Carters Mastering the trade - www.amazon.com/Maste...niques/dp/0071775145
For the amount of information this has, the price tag is not hefty.
John's RTM Chapter Synopsis - www.tradethemarkets....eversion-to-mean.cfm
What did I modify?
1. Automated the Daily + and Intraday settings. So Switching to intraday will change the setting automatically.
2. Added text callouts for RTM condition
a. John Carter's Indicator
b. Slope Based (my addition).
Future Improvement Planned.
1. Will Convert this into a system based on John's Indicator from TS.
2. Custom Options for Slope and MA setting for Trade filter.
Uday C Santhakumar
// Created by UCSgears // Adopted from TTM Reversion Bands // Added a little touch study(title="UCS_TTM - Reversion Bands", shorttitle="UCS_TTM-RTM", overlay=true) // Defining Timeframe and Parameters a = isdwm ? 1 : 0 b = isintraday ? 1 : 0 // TTM - Revertion to the Mean Band - INPUTS z = input(0, title = "Offset") usesl = input(true, title = "RTM against Slope (UCSgears Addition)", type=bool) length = a == 1 ? 13 : 25 atrlen = a == 1 ? 13 : 25 mult = a == 1 ? 1.5 : 2.5 range = tr // Calculations ma = ema(close, length) rangema = ema(range, atrlen) upper = ma + rangema * mult lower = ma - rangema * mult // All Plots plot(upper, color=purple, title="Upper Channel", offset = z) plot(ma, color=red, title="Middle Line", offset = z) plot(lower, color=purple, title="Lower Channel", offset = z) //Slope Definition slope = (ma - ma[5])/5 sh = highest(slope, 250) sl = lowest(slope, 250) sm = 0 /////////////////////////////////////////////////////////////////////////////////////////////////(sh+sl)/2 pup = slope > sm ? 1 : 0 ndn = slope < sm ? 1 : 0 plotshape(usesl ? pup : na, style = shape.triangleup, color = green, location = location.bottom, title = "Positive Slope", transp = 0) plotshape(usesl ? ndn : na, style = shape.triangledown, color = red, location = location.top, title = "Negative Slope", transp = 0) // Condition for Dots dota = (high > upper) and (high < upper)[1] ? upper : na dotb = (low < lower) and (low > lower)[1] ? lower : na dotbsp = pup == 1 ? dotb : na dotasn = ndn == 1 ? dota : na plotshape(usesl ? dotasn : dota, style = shape.circle, location = location.abovebar, color = fuchsia, title = "RTM UP", text = "RTM - UP \n SHORT", textcolor = fuchsia, transp = 0) plotshape(usesl ? dotbsp : dotb, style = shape.circle, location = location.belowbar, color = blue, title = "RTM Down", text = "RTM - DOWN \n LONG", textcolor = blue, transp = 0)
