There was a request yesterday from @blakecmathis to add buy/sell signals on the following study, which essentially is a combined study of SuperTrend together with CCI ATR Trend. That study originated from a user called DTEK on 8.10.2019 and was based on Mobius original work several years ago.
It looked really promising (as most studies from Mobius are). However, after working through the details, it appeared that the embedded logic was a bit complex and confusing. Hence, I cleaned up the code, modified the logic, rewrote portions of the underlying engine, added state transitions, implemented buy/sell signals and arrows as well as gave it a new coloring structure.
Since the previous study did not have a name, as a placeholder, I'm tagging this study as "Supertrend ATR CCI Trend".
Here then is version 2.0 of the code.
Enjoy it folks!
It looked really promising (as most studies from Mobius are). However, after working through the details, it appeared that the embedded logic was a bit complex and confusing. Hence, I cleaned up the code, modified the logic, rewrote portions of the underlying engine, added state transitions, implemented buy/sell signals and arrows as well as gave it a new coloring structure.
Since the previous study did not have a name, as a placeholder, I'm tagging this study as "Supertrend ATR CCI Trend".
Here then is version 2.0 of the code.
Enjoy it folks!
Code:
# SuperTrend CCI ATR Trend
# tomsk
# 11.18.2019
# V1.0 - 08.10.2019 - dtek - Initial release of SuperTrend CCI ATR Trend
# V2.0 - 11.18.2019 - tomsk - Modified the logic, cleaned up code for consistency
# SUPERTREND BY MOBIUS AND CCI ATR TREND COMBINED INTO ONE CHART INDICATOR,
# BOTH IN AGREEMENT IS A VERY POWERFUL SIGNAL IF TRENDING. VERY GOOD AT CATCHING
# REVERSALS. WORKS WELL ON 1 AND 5 MIN CHARTS. PLOT IS THE COMBINATION LOWEST
# FOR UPTREND AND HIGHEST OF THE DOWNTREND. DOTS COLORED IF BOTH IN AGREEMENT
# OR GREY IF NOT - 08/10/2019 DTEK
# Supertrend, extracted from Mobius original code
input ST_Atr_Mult = 1.0; # was .70
input ST_nATR = 4;
input ST_AvgType = AverageType.HULL;
def ATR = MovingAverage(ST_AvgType, TrueRange(high, close, low), ST_nATR);
def UP = HL2 + (ST_Atr_Mult* ATR);
def DN = HL2 + (-ST_Atr_Mult * ATR);
def ST = if close < ST[1] then UP else DN;
# CCI_ATR measures distance from the mean. Calculates a trend
# line based on that distance using ATR as the locator for the line.
# Credit goes to Mobius for the underlying logic
input lengthCCI = 50; # Was 20
input lengthATR = 21; # Was 4
input AtrFactor = 1.0; # Was 0.7
def ATRCCI = Average(TrueRange(high, close, low), lengthATR) * AtrFactor;
def price = close + low + high;
def linDev = LinDev(price, lengthCCI);
def CCI = if linDev == 0
then 0
else (price - Average(price, lengthCCI)) / linDev / 0.015;
def MT1 = if CCI > 0
then Max(MT1[1], HL2 - ATRCCI)
else Min(MT1[1], HL2 + ATRCCI);
# Alignment of Supertrend and CCI ATR indicators
def Pos_State = close > ST and close > MT1;
def Neg_State = close < ST and close < MT1;
# Combined Signal Approach - Supertrend and ATR CCI
plot CSA = MT1;
CSA.AssignValueColor(if Pos_State then Color.CYAN
else if Neg_State then Color.MAGENTA
else Color.YELLOW);
# Buy/Sell Signals using state transitions
def BuySignal = (!Pos_State[1] and Pos_State);
def SellSignal = !Neg_State[1] and Neg_State;
# Buy/Sell Arrows
plot BuySignalArrow = if BuySignal then 0.995 * MT1 else Double.NaN;
BuySignalArrow.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
BuySignalArrow.SetDefaultColor(Color.CYAN);
BuySignalArrow.SetLineWeight(5);
plot SellSignalArrow = if SellSignal then 1.005 * MT1 else Double.NaN;
SellSignalArrow.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
SellSignalArrow.SetDefaultColor(Color.PINK);
SellSignalArrow.SetLineWeight(5);
# Candle Colors
AssignPriceColor(if Pos_State then Color.GREEN
else if Neg_State then Color.RED
else Color.YELLOW);
# End SuperTrend CCI ATR Trend
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