MarketSmith Indicator

This script provides you with several indicators that will enable you to mimic MarketSmith charts, even with a free TradingView plan.

You can use this script with my 'EPS & Sales' indicator.

MarketSmith-style bars
The script offers an original approach to managing candlesticks within the code, making them almost identical to those on MarketSmith.
For a perfect display, select 'Bars' on your chart and set the opacity of your candles to 100% to display only the candles proposed by this indicator.
If you don't want them, you can simply disable them in the 'Style' tab by unchecking 'MarketSmith Bars' and 'Chars'.
These candles are designed to be used with a fix chart. (No beautiful result with zooming in or out.)
Normally, the display will still be correct by right-clicking, and 'Reset Chart'.

Simple customizable moving averages
With automatic distinction of the weekly time unit. You can choose to display them or not, select the calculation method and modify their length via the panel.

The RS Rating indicator
I've integrated the RS Rating indicator into this script, as the RS Rating is a fundamental component of this layout.

High and valley points
These points are used by MarketSmith to detect bases, patterns, cup & handle.

Designed for US Market only you won't be able to screen correctly the India market for example.

Notes de version:

- Now 'Hide RS Line' is working
- Corrected a bug where when the current close was equal to that of the previous candle, the script colored pink, while TradingView colored blue. (Thank you @Yaron_)

Notes de version:

- You can now customize the color of the bars
- You can now display % variation of Peak/Valley points

Notes de version:

- Added the Weekly Tight Closes Detector available on 'Mark Minervini' script

Notes de version:

- Now SMA/EMA colors are customizable

Notes de version:

- Added Optional Beta Chart Recognition Pattern

Notes de version:

- Corrected Graph Display

Notes de version:

- Corrected graph again

Notes de version:

- Corrected a minor bug that deleted hisotorical valid flat bases

Notes de version:

- Added Double Bottom Detection
- Pattern are only detected in Daily TimeFrame

Notes de version:

- Forgot to link the ability not to display patterns, corrected!

Notes de version:

- Added recent modification on the RS Rating

Notes de version:

- Modified label size to tiny

Notes de version:

- Adjust some parameters in the base formation to be closer to MarketSmith
- Corrected some bugs with the double bottom detection

Notes de version:

- Little correction for the initial depth of the creation of a base -> 35% to 40%

Notes de version:

- Changed default Depth and Length values to better match MarketSmith Chart Pattern Recognition system

Notes de version:

- Corrected Input Description for Double Bottom Depth and Length

Notes de version:

- Corrected some parameters for base detection
- Changed Dotted Lines to Dashed lines
- More discreet line rendering

Notes de version:

- Chart updated

Notes de version:

- Chart Updated (Try to find a correct display)

Notes de version:

- Back to the previous style display because bases were hard to see

Notes de version:

- Added Beta Cup Detection (not Cup n Handle yet)
- Corrected bug of SPX display

Notes de version:

- Corrected incorrect depth setting

Notes de version:

- Adaptation of offset display for sectors and indices

Notes de version:

- Rs Rating label adjusted

Notes de version:

- Added Default Blue Dot New High

Notes de version:

- Now we can display the rating only, eg: for smartphone display

Notes de version:

- Adapted the RS Rating Update!
In this update, I propose to use an option to view the historical RS Rating. This method is an approximation, as the performance environment of US equities varies over time, whereas the historical RS Rating is calculated with fixed values. However, this option can be of interest when studying past setups, and can provide relevant indications.

Notes de version:

- We can add a second SMA/EMA on the RS Line.

Notes de version:

- Corrected the rounding of the Average Volume

Notes de version:

- Confused MarketSmith Volume and MarketSmith Indicator. It's late at night

Notes de version:

- Added EPS & Sales Table due to recent TradingView free plan limitation

Notes de version:

- Corrected the Comparative Symbol for Line input that wasn't correctly wired to the calculation.

Notes de version:

- Removed unused input

Notes de version:

For the EPS & Sales table
- Corrected shifting color to transparent of the daily table

Notes de version:

- Added the Maj for the EPS & Sales indicator

Notes de version:

- Corrected wrong digit on the 'versus' display on sales after @B_Kaminski pointed it out