SMI Ergodic Dual Pro [Point Algo]

31 août

Overview
This indicator is designed to provide traders with a structured approach to analyzing price action using custom-drawn pro lines. It aims to help identify potential support and resistance zones, trend direction, and possible trading opportunities. The tool is built to assist in decision-making, not to guarantee profitable outcomes.
Features
• Custom pro lines highlighting potential key market levels.
• Trend direction assistance for better clarity.
• Works across multiple timeframes.
• Easy-to-use interface suitable for both beginners and experienced traders.
• Non-repainting signals for reliability.
How It’s Used
Traders can apply the indicator to their charts to:
• Identify potential reversal zones.
• Confirm market structure with pro lines.
• Enhance trading strategies with clearer entry and exit zones.
• Use in combination with other technical analysis tools for better accuracy.
Conclusion
This indicator is a supportive tool designed to improve market analysis. It should be used as part of a broader trading plan and not as a standalone buy/sell signal generator. Results may vary based on individual strategies and market conditions.

Disclaimer
This script is for educational and informational purposes only. It is not financial advice. Trading involves risk, and past performance does not guarantee future results. The developer of this indicator is not responsible for any financial losses that may occur from its use.

31 août

Notes de version

Overview
This indicator is designed to provide traders with a structured approach to analyzing price action using custom-drawn pro lines. It aims to help identify potential support and resistance zones, trend direction, and possible trading opportunities. The tool is built to assist in decision-making, not to guarantee profitable outcomes.
Features
• Custom pro lines highlighting potential key market levels.
• Trend direction assistance for better clarity.
• Works across multiple timeframes.
• Easy-to-use interface suitable for both beginners and experienced traders.
• Non-repainting signals for reliability.
How It’s Used
Traders can apply the indicator to their charts to:
• Identify potential reversal zones.
• Confirm market structure with pro lines.
• Enhance trading strategies with clearer entry and exit zones.
• Use in combination with other technical analysis tools for better accuracy.
Conclusion
This indicator is a supportive tool designed to improve market analysis. It should be used as part of a broader trading plan and not as a standalone buy/sell signal generator. Results may vary based on individual strategies and market conditions.
Disclaimer
This script is for educational and informational purposes only. It is not financial advice. Trading involves risk, and past performance does not guarantee future results. The developer of this indicator is not responsible for any financial losses that may occur from its use.

il y a 6 jours

Notes de version

Updated Changes

1. Zero Line Crossing Color System
Dynamic Line Color: The DSMI PRO line now changes color automatically - green when above zero, red when below zero

Original: Static black line

Updated: Dynamic color that responds to position relative to zero

2. Fill Area Between Lines
New Feature: Added colored fill between the DSMI PRO line and zero line

Green Fill: When DSMI PRO is above zero with 80% transparency

Red Fill: When DSMI PRO is below zero with 80% transparency

Visual Impact: Creates a clear zone showing momentum direction

3. Zero Line Crossing Detection
Added Detection: System now identifies when the indicator crosses above or below zero

Upward Crossings: Detected when line moves from negative to positive

Downward Crossings: Detected when line moves from positive to negative

Purpose: Enables precise identification of momentum shifts

4. Visual Cross Markers
Green Triangle Up: Appears below the chart when DSMI PRO crosses above zero

Red Triangle Down: Appears above the chart when DSMI PRO crosses below zero

Benefit: Provides clear visual signals at key momentum change points

5. Plot Reference System
Enhanced Plotting: Modified how lines are plotted to enable the fill function

Zero Line Enhancement: Zero line now serves as a reference point for the fill area

Technical Requirement: Necessary for creating the colored zones

6. Bug Fix in Final Version
Syntax Correction: Fixed an invalid parameter that was causing compilation errors

Solution: Corrected the zero line plotting parameters for proper functionality

What Stays the Same
All original SMI ERG calculations remain unchanged

All input parameters and their default values are preserved

Core mathematical logic for SMI PRO and DSMI PRO calculations

All previously commented sections remain as they were

Visual Result
The indicator now provides immediate visual feedback showing bullish momentum in green zones above zero and bearish momentum in red zones below zero. Triangle markers highlight exact crossing points, and the filled area makes it much easier to see the oscillator's position relative to the zero line. This transforms the indicator from a simple line into a comprehensive visual momentum system.