ucsgears

UCS_Top & Bottom Candle

This is an experimental Indicator based on Momentum. Picks the Top & Bottom Candle for most Swing. Please post your opinion or suggestion to improve this indicator.

I have not back tested this completely. This is recently developed Indicator.

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Commentaire:

Script open-source

Dans le véritable esprit de TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par le règlement. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.

Vous voulez utiliser ce script sur un graphique ?
//Short Term Top and Bottom Candle Identifier
//Code by UCSgears

study("UCS_Top & Bottom Candle", shorttitle = "UCS_T&B", overlay=false)

a = input(5, "Percent K Length")
b = input(3, "Percent D Length")

// Range Calculation
ll = lowest (low, a)
hh = highest (high, a)
diff = hh - ll
rdiff = close - (hh+ll)/2

// Nested Moving Average for smoother curves
avgrel = ema(ema(rdiff,b),b)
avgdiff = ema(ema(diff,b),b)

// Momentum
mom = ((close - close[b])/close[b])*1000


// SMI calculations
SMI = avgdiff != 0 ? (avgrel/(avgdiff/2)*100) : 0
SMIsignal = ema(SMI,b)

//All PLOTS
plot(mom, title = "Momentum", style = columns, color = yellow)
plot(SMI, title = "Stochastic Momentum Index")
plot(SMIsignal, color= red, title = "SMI Signal Line")

H1 = hline(40, color = red, title = "Over Bought")
H2 = hline(-40, color = green, title = "Over Sold")
H0 = hline(0, color = blue, title = "Zero Line")
fill(H0,H2, color = green, title = "Oversold")
fill(H0,H1, color = red, title = "Overbought")
//END

// Strategy Signals 
// Buy Setup
long = SMI < -35  and mom > 0 and mom[1] < 0 ? lime : na
barcolor(long)

// Short Setup
short = SMI > 35  and mom < 0 and mom[1] > 0 ? red : na
barcolor(short)