Balanced BB Breakout

[Chuck]

Balanced BB Breakout-"B4"

Thanks to all the talented people who have dedicated time and effort to this indicator.
All I did was see an opportunity to mix all of my favorite indicators into one great lower study that helped keep my upper chart clean and at the same time provide me with a great amount of info to trade.

I myself have only been using this for a few months, In that time it has helped me as a trader. Comments are welcome. Let me know how you use it, how it works for your trades!

This is how I like to trade this indicator and it is not to be considered trading advise. Many people are asking how I use this indicator so I decided to explain how I personally like you use this. This info is for educational purposes only. This info will be updated to reflect each new version as it evolves.

• I usually trade in the direction of the MACDBB mid line. The trend label is synced with that and will help keep you in the right direction.
• I like to see confirmation with the Market Forecast and the trend label. I find a neutral trend is not my friend as it usually will chop me out of profit.
• The MACDBB Cloud in the original version incorporated the use of Keltner Channel to determine a squeeze, the newer versions employ a stocastic squeeze. A yellow (default) cloud will appear on the bands when this condition is meet. Price has a tendency to breakout after a squeeze. This is where I like to be set up waiting for an entry.
• The Bollinger Bands when contracted show an area of consolidation or a point of equilibrium. These levels are often areas of supply and demand or support and resistance. When the band is tight and the MACDBB Dotted Line crosses over the top band It is typically a strong move to the up side, just the opposite in the inverse.
• By default, the alerts crossing for the bands from both directions is set to zero.
• Some people may want to enter a position upon the MACDBB dotted Line crossing the BB bands Upper, Lower, Or Middle line. You will have to play with it and figure out what works best for you. The alerts from this will not give you an absolute top or absolute bottom. But serves as a good indication of price aggregation.
• The clouds in the background are a confluent combination of RSI, STOCASTIC and MACD. That’s why it is referred to as RSM. When the signals are confluent, they will either be Red or Green by default. When they are not in agreement it is likely you are in inflight turbulence or a change of investor sentiment.
• For my first confirmation of a trade, I watch the MACDBB dots line. Before the line turns grey it should turn dark red or dark green. That’s when I am alerted, I use that as my lead while using this indicator.
• When the MACDBB dots line turns gray, that is an area of indecision and as soon as that line crosses the MACDBB middle line, I look for secondary confirmation to confirm entry or exit, I do this on entries and exits.
• For those looking to get a better exit on the RSI_IFT strategy, perhaps this will alert you, we are working on a solution now to provide a more reasonable exit for this stratigy. I have an add-on that is almost complete that will be of assistance in determining an exit, and will update you all when we finish it.
• Personally with my risk tolerance, I find that when the MACDBB dots line turns gray when I am in a long position and crosses over the top BB line, I usually exit my position. I then wait for the pull back or a continuation. I find personally that the commission fee for exiting out ways the 100’s of dollars I risk or lose if the position changes direction at that time. I do the inverse for shorts.

THIS PORTION IS FOR THE EARLIER VERSIONS WITH THE P/L AND MACD HISTOGRAM ARROWS OPTIONS (Might be a future Add_On or even a rework once we finalize the stratigies)

• For each instrument that I trade I can run a P/L analysis.
• NOTE: The profit calculator uses the chart settings for bar #1 to start the strategy and calculates P/L for the amount of trades thereafter. I look at the P/L and how it differs based on changing the timeframe - so if 5m looks better than 3, I would probably go with 5m. Of course, past performance is not indicative of future results, but I like to trade what I see.
• The first thing I do is back test it on the instrument I want to trade. Using a 1D chart with time intervals of 2m,3m,5m,10m,15m, etc. and check out the P/L to see what time frame is the most profitable, considering my risk and max drawdown. At this time, I also like to switch between the built-in strategies to see which one would have made me the most money and probably choose that one. You will not trade exactly like the strategy, but I feel it is a good start. I like to have probability in my favor. that’s why I put that strategy on my lower indicators.
• I have all the arrows turned on in my version and I look for the arrows, or histogram, or colored cloud background, in accordance with the selected strategy entry line or my entries also considering the other signals and price indications I am getting from the candles and other indicators in my final evaluation.

Latest Version Update v3.0

Changes made to this version:

• cleanup, changed divergance to text, show stoch labels all the time
• added trend squeeze label for BB, added alerts for Stoch Scalper
• added options to hide clouds and labels(thanks to the users for making this suggestion)
• changed trend and divergence colors and text to match
• removed volume and keltner channel studies, unified squeeze

To select the strategy you wish just navigate to your study and select the one you wish in the "bull bear" dropdown.

Do some backtesting and find out what strategy works best for you, each can be used on interday, swing and long term investing. You will have to decide what strategy suits your particular risk tolerance and trading style.

INSTALLATION

https://tos.mx/FPDl0NT

1) Copy the link below:

2) Go to the main window of the TOS platform and click “Setup” followed by “Open Shared Item.”
3) An “Open Shared Item” window will pop up. Paste the link (using Control – V) into the box and click “Preview.”
4) Click “Open” and the Balanced BB Breakout script will download to your platform.
5) Click “Rename” and type in “Balanced BB Breakout”
6) Go to TOS charts: click “Studies” and “Edit Studies.” Select the “Balanced BB Breakout” study from the list of studies on the left and click “Add selected.” Click “OK” and the Balanced BB Breakout study will be applied to your chart.
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# B4 Indicator
#
# Free for use. Header credits must be included when any form of the code included in this package is used.
# User assumes all risk. Author not responsible for errors or use of tool.
# Copyright (c) 2021 B4 Signals
#
# Get support at: https://b4signals.com
# Join us at: https://discord.gg/kD3pKE2CQd
#
#
# v3.0 - barbros / chuck - official release

declare lower;

input ShowMarketForecastLabel = yes;        #hint ShowMarketForecastLabel: Show the intermediate Market Forecast label
input ShowMACDBBLabel = yes;                #hint ShowMACDBBLabel: Show the MACDBB based Trend label
input ShowMACDBBCloud = no;                 #hint ShowMACDBBCloud: Show the MACDBB cloud shaded between BB
input ShowRSMCloud = no;                    #hint ShowRSMCloud: Show the vertical cloud based on RSM
input ShowHMALabel = yes;                   #hint ShowHMALabel: Show HUll Moving Average based Divergence label
input ShowSTOCHSCALPERSqueezeLabel = yes;   #hint ShowSTOCHSCALPERSqueezeLabel: Show Stochastic Scalper based squeeze label
input ShowSTOCHSCALPERSqueezeCloud = yes;   #hint ShowSTOCHSCALPERSqueezeCloud: Show Stochastic Scalper based squeeze cloud between BB
input ShowBullBearVerticalLines = yes;      #hint ShowBullBearVerticalLines: Show vertical lines for bullish or bearish direction

AddLabel(yes, "B4 Indicator", Color.WHITE);

### Market Forecast

def pIntermediate = MarketForecast().Intermediate;

AddLabel(ShowMarketForecastLabel,
    "Market Forecast " +
    if pIntermediate >= 80 then "Bullish" else
    if pIntermediate <= 20 then "Bearish" else
    if pIntermediate > pIntermediate[1] then "Rising" else
    if pIntermediate < pIntermediate[1] then "Falling" else "Neutral",
    if pIntermediate >= 80 then Color.DARK_GREEN else
    if pIntermediate <= 20 then Color.DARK_RED else
    if pIntermediate > pIntermediate[1] then Color.GREEN else
    if pIntermediate < pIntermediate[1] then Color.RED else Color.GRAY
);

### MACDBB

input MACDBB_FastLength = 12;
input MACDBB_SlowLength = 26;
input MACDBB_BandLength = 15;
input MACDBB_NumDev = 1.0;

def MACDBB_Data = MACD(fastLength = MACDBB_FastLength, slowLength = MACDBB_SlowLength, MACDLength = 5);

plot MACDBB_Upper = reference BollingerBands(price = MACDBB_Data, length = MACDBB_BandLength,
                                             Num_Dev_Dn = -MACDBB_NumDev, Num_Dev_Up = MACDBB_NumDev).UpperBand;
MACDBB_Upper.SetDefaultColor(Color.RED);
MACDBB_Upper.HideTitle();
MACDBB_Upper.HideBubble();

plot MACDBB_Lower = reference BollingerBands(price = MACDBB_Data, length = MACDBB_BandLength,
                                             Num_Dev_Dn = -MACDBB_NumDev, Num_Dev_Up = MACDBB_NumDev).Lowerband;
MACDBB_Lower.SetDefaultColor(Color.GREEN);
MACDBB_Lower.HideTitle();
MACDBB_Lower.HideBubble();

plot MACDBB_Midline = reference BollingerBands(price = MACDBB_Data, length = MACDBB_BandLength,
                                               Num_Dev_Dn = -MACDBB_NumDev, Num_Dev_Up = MACDBB_NumDev).MidLine;
MACDBB_Midline.SetDefaultColor(Color.LIGHT_RED);
MACDBB_Midline.SetStyle(Curve.FIRM);
MACDBB_MidLine.HideTitle();
MACDBB_MidLine.HideBubble();

plot MACDBB_Line = MACDBB_Data;
MACDBB_Line.AssignValueColor(
    if MACDBB_Line > MACDBB_Line[1] and MACDBB_Line >= MACDBB_Upper then Color.GREEN
    else if MACDBB_Line < MACDBB_Line[1] and MACDBB_Line >= MACDBB_Upper then Color.DARK_GREEN
    else if MACDBB_Line < MACDBB_Line[1] and MACDBB_Line <= MACDBB_Lower then Color.RED else
    if MACDBB_Line > MACDBB_Line[1] and MACDBB_Line <= MACDBB_Lower then Color.DARK_RED
    else Color.GRAY
);
MACDBB_Line.SetLineWeight(1);

plot MACDBB_Dots = MACDBB_Data;
MACDBB_Dots.AssignValueColor(
    if MACDBB_Line > MACDBB_Line[1] and MACDBB_Line > MACDBB_Upper then Color.GREEN
    else if MACDBB_Line < MACDBB_Line[1] and MACDBB_Line > MACDBB_Upper then Color.DARK_GREEN
    else if MACDBB_Line < MACDBB_Line[1] and MACDBB_Line < MACDBB_Lower then Color.RED
    else if MACDBB_Line > MACDBB_Line[1] and MACDBB_Line < MACDBB_Lower then Color.DARK_RED
    else Color.GRAY
);
MACDBB_Dots.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
MACDBB_Dots.SetLineWeight(1);
MACDBB_Dots.HideTitle();
MACDBB_Dots.HideBubble();

input MACDBB_CrossFromAboveAlert = {default "Zero", "Lower", "Middle", "Upper"};
input MACDBB_CrossFromBelowAlert = {default "Zero", "Lower", "Middle", "Upper"};

def MACDBB_CrossFromAboveVal = if MACDBB_CrossFromAboveAlert == MACDBB_CrossFromAboveAlert.Lower then MACDBB_Lower
                               else if MACDBB_CrossFromAboveAlert == MACDBB_CrossFromAboveAlert.Upper then MACDBB_Upper
                              else 0;
def MACDBB_CrossFromBelowVal = if MACDBB_CrossFromBelowAlert == MACDBB_CrossFromBelowAlert.Lower then MACDBB_Lower
                               else if MACDBB_CrossFromBelowAlert == MACDBB_CrossFromBelowAlert.Upper then MACDBB_Upper
                               else 0;

def MACDBB_Buy = MACDBB_Data > MACDBB_Upper;
def MACDBB_Sell = MACDBB_Data <= MACDBB_Lower;

AddLabel(ShowMACDBBLabel,
    "Trend " +
    if MACDBB_Line > MACDBB_Line[1] and MACDBB_Line > MACDBB_Upper then "Bullish"
    else if MACDBB_Line < MACDBB_Line[1] and MACDBB_Line > MACDBB_Upper then "Bullish (reversing)"
    else if MACDBB_Line < MACDBB_Line[1] and MACDBB_Line < MACDBB_Lower then "Bearish"
    else if MACDBB_Line > MACDBB_Line[1] and MACDBB_Line < MACDBB_Lower then "Bearish (reversing)"
    else "Neutral",
    if MACDBB_Line > MACDBB_Line[1] and MACDBB_Line > MACDBB_Upper then Color.GREEN
    else if MACDBB_Line < MACDBB_Line[1] and MACDBB_Line > MACDBB_Upper then Color.DARK_GREEN
    else if MACDBB_Line < MACDBB_Line[1] and MACDBB_Line < MACDBB_Lower then Color.RED
    else if MACDBB_Line > MACDBB_Line[1] and MACDBB_Line < MACDBB_Lower then Color.DARK_RED
    else Color.GRAY
);

AddCloud(if ShowMACDBBCloud then MACDBB_Upper else MACDBB_Lower, MACDBB_Lower, Color.LIGHT_RED);

### RSI/STOCASTIC/MACD CONFLUENCE COMBO

plot RSM_MACD_Diff = reference MACD("fast length" = 12, "slow length" = 26, "macd length" = 9).Diff;
RSM_MACD_Diff.SetDefaultColor(GetColor(5));
RSM_MACD_Diff.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
RSM_MACD_Diff.SetLineWeight(4);
RSM_MACD_Diff.DefineColor("Positive and Up", Color.GREEN);
RSM_MACD_Diff.DefineColor("Positive and Down", Color.DARK_GREEN);
RSM_MACD_Diff.DefineColor("Negative and Down", Color.RED);
RSM_MACD_Diff.DefineColor("Negative and Up", Color.DARK_RED);
RSM_MACD_Diff.AssignValueColor(
    if RSM_MACD_Diff >= 0 then
        if RSM_MACD_Diff > RSM_MACD_Diff[1] then RSM_MACD_Diff.Color("Positive and Up") else RSM_MACD_Diff.Color("Positive and Down")
    else
        if RSM_MACD_Diff < RSM_MACD_Diff[1] then RSM_MACD_Diff.Color("Negative and Down") else RSM_MACD_Diff.Color("Negative and Up")
);

plot RSM_MACD_ZeroLine = 0;
RSM_MACD_ZeroLine.SetDefaultColor(Color.DARK_GRAY);
RSM_MACD_ZeroLine.HideTitle();
RSM_MACD_ZeroLine.HideBubble();

def RSM_RSI = reference RSI(length = 7).RSI;

def RSM_Stoch_Val = 100 * (close - lowest(low, 14)) / (highest(high, 14) - lowest(low, 14));
def RSM_StochSlowK = SimpleMovingAvg(SimpleMovingAvg(RSM_Stoch_Val,3),3);

def RSM_rsiGreen = RSM_RSI >= 50;
def RSM_rsiRed = RSM_RSI < 50;
def RSM_stochGreen = RSM_StochSlowK >= 50;
def RSM_stochRed = RSM_StochSlowK < 50;
def RSM_macdGreen = RSM_MACD_Diff >= 0;
def RSM_macdRed = RSM_MACD_Diff < 0;
def RSM_Buy = RSM_rsiGreen and RSM_stochGreen and RSM_macdGreen;
def RSM_Sell = RSM_rsiRed and RSM_stochRed and RSM_macdRed;

# Shade areas based on criteria; adjust as needed

AddCloud(
    if ShowRSMCloud and RSM_rsiGreen and RSM_stochGreen and RSM_macdGreen then Double.POSITIVE_INFINITY else Double.NaN,
    if ShowRSMCloud and RSM_rsiGreen and RSM_stochGreen and RSM_macdGreen then Double.NEGATIVE_INFINITY else Double.NaN, Color.LIGHT_GREEN
);
AddCloud(
    if ShowRSMCloud and RSM_rsiRed and RSM_stochRed and RSM_macdRed then Double.POSITIVE_INFINITY else Double.NaN,
    if ShowRSMCloud and RSM_rsiRed and RSM_stochRed and RSM_macdRed then Double.NEGATIVE_INFINITY else Double.NaN, Color.LIGHT_RED
);

### Divergance
input HMA_Length = 55;
input HMA_Lookback = 2;

def HMA = HullMovingAvg(price = HL2, length = HMA_Length);
def HMA_delta = HMA[1] - HMA[HMA_Lookback + 1];
def HMA_delta_per_bar = HMA_delta / HMA_Lookback;
def HMA_next_bar = HMA[1] + HMA_delta_per_bar;
def HMA_concavity = if HMA > HMA_next_bar then 1 else -1;
def HMA_MA_Max = if HMA[-1] < HMA and HMA > HMA[1] then HMA else Double.NaN;
def HMA_MA_Min = if HMA[-1] > HMA and HMA < HMA[1] then HMA else Double.NaN;
def HMA_divergence = HMA - HMA_next_bar;

AddLabel(ShowHMALabel,
        "Divergence " +
        if HMA_concavity < 0 then
            if HMA_divergence[1] > HMA_divergence then "Bearish"
            else "Bearish (reversing)"
        else
            if HMA_divergence[1] < HMA_divergence then "Bullish"
            else "Bullish (reversing)",
        if HMA_concavity < 0 then
            if HMA_divergence[1] > HMA_divergence then Color.RED
            else Color.DARK_RED
        else
            if HMA_divergence[1] < HMA_divergence then Color.GREEN
            else Color.DARK_GREEN
);

### Stocastic Scalper

def STOCHSCALPER_oSS = (open[1] + close[1]) / 2;
def STOCHSCALPER_hSS = Max(high, close[1]);
def STOCHSCALPER_lSS = Min(low, close[1]);
def STOCHSCALPER_cSS = (STOCHSCALPER_oSS + STOCHSCALPER_hSS + STOCHSCALPER_lSS + close) / 4;

def STOCHSCALPER_mean = Average(STOCHSCALPER_cSS, 20);
def STOCHSCALPER_sd = StDev(STOCHSCALPER_cSS, 20);
def STOCHSCALPER_atr = Average(TrueRange(STOCHSCALPER_cSS, STOCHSCALPER_hSS, STOCHSCALPER_lSS), 20);
def STOCHSCALPER_squeeze = if (STOCHSCALPER_mean + (2 * STOCHSCALPER_sd)) < (STOCHSCALPER_mean + (1.5 * STOCHSCALPER_atr)) then yes else no;
def STOCHSCALPER_squeeze_signal = !STOCHSCALPER_squeeze[1] and STOCHSCALPER_squeeze;

AddCloud(if ShowSTOCHSCALPERSqueezeCloud and STOCHSCALPER_squeeze then MACDBB_Upper else Double.NaN,
         if ShowSTOCHSCALPERSqueezeCloud and STOCHSCALPER_squeeze then MACDBB_Lower else Double.NaN, Color.YELLOW);
AddLabel(ShowSTOCHSCALPERSqueezeLabel, "Scalper Squeeze", if STOCHSCALPER_squeeze then Color.WHITE else Color.GRAY);

### RSI IFT

def RSI_IFT_R = reference RSI(5, close) - 50;
def RSI_IFT_AvgRSI = MovingAverage(AverageType.Exponential,RSI_IFT_R,9);
def RSI_IFT_InverseRSI = (Power(Double.E, 2 * RSI_IFT_AvgRSI) - 1) / (Power(Double.E, 2 * RSI_IFT_AvgRSI) + 1);
def RSI_IFT_Direction = if BarNumber() == 0 then 0
                        else if (RSI_IFT_InverseRSI[1] > 0) and (RSI_IFT_InverseRSI < 0) then -1
                        else if (RSI_IFT_InverseRSI > 0) and (RSI_IFT_InverseRSI[1] < 0) then 1
                        else RSI_IFT_Direction[1];

### Fibonacci SuperTrend

input FST_Length = 11;
input FST_Retrace = 23.6;
input FST_UseHighLow = yes;

def FST_h = if FST_UseHighLow then high else close;
def FST_l = if FST_UseHighLow then low else close;
def FST_minL = Lowest(FST_l, FST_Length);
def FST_maxH = Highest(FST_h, FST_Length);

def FST_hh = if FST_h > FST_maxH[1] then FST_h else FST_hh[1];
def FST_ll = if FST_l < FST_minL[1] then FST_l else FST_ll[1];
def FST_trend = if FST_h > FST_maxH[1] then 1 else if FST_l < FST_minL[1] then -1 else FST_trend[1];
def FST_Direction = if BarNumber() == 0 then 0
                    else if FST_trend != 1 then -1
                    else if FST_trend == 1 then 1
                    else FST_Direction[1];

### Bar Color

input BarColor = { "None", default "RSM", "FibonacciSuperTrend" };    #hint BarColor: Paint bars with RSM or Fibonacci SuperTrend direction

AssignPriceColor(
    if BarColor == BarColor.FibonacciSuperTrend then
        if FST_trend == 1 then Color.GREEN else Color.RED
    else if BarColor == BarColor.RSM then
        if RSM_Buy then Color.GREEN
        else if RSM_Sell then Color.RED
        else Color.DARK_GRAY
    else Color.CURRENT
);

### Strategy

input BullBear_Include_FST = yes;       #hint BullBear_Include_FST: Include Fibonacci SuperTrend in the vertical line strategy
input BullBear_Include_RSI_IFT = yes;   #hint BullBear_Include_RSI_IFT: Include RSI IFT in the vertical line strategy

def BullBear_Buy = (!BullBear_Include_FST or FST_Direction == 1) and
                   (!BullBear_Include_RSI_IFT or RSI_IFT_Direction == 1);
def BullBear_Sell = (!BullBear_Include_FST or FST_Direction == -1) and
                    (!BullBear_Include_RSI_IFT or RSI_IFT_Direction == -1);

AddVerticalLine(ShowBullBearVerticalLines and BullBear_Buy and !BullBear_Buy[1],
                AsDollars(close),
                Color.GREEN, Curve.SHORT_DASH);
AddVerticalLine(ShowBullBearVerticalLines and BullBear_Sell and !BullBear_Sell[1],
                AsDollars(close),
                Color.RED, Curve.SHORT_DASH);

def Strategy_Buy = BullBear_Buy and MACDBB_Buy and RSM_Buy;
def Strategy_Sell = BullBear_Sell and MACDBB_Sell and RSM_Sell;
def Strategy_BuySignal = Strategy_Buy and !Strategy_Buy[1];
def Strategy_SellSignal = Strategy_Sell and !Strategy_Sell[1];

plot BuyArrow = if Strategy_BuySignal then 0 else Double.NaN;
BuyArrow.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
BuyArrow.SetDefaultColor(Color.WHITE);
BuyArrow.HideTitle();
BuyArrow.HideBubble();

plot SellArrow = if Strategy_SellSignal then 0 else Double.NaN;
SellArrow.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
SellArrow.SetDefaultColor(Color.WHITE);
SellArrow.HideTitle();
SellArrow.HideBubble();

### Alerts

Alert(Strategy_BuySignal, "Long Entry", Alert.BAR, Sound.DING);
Alert(Strategy_SellSignal, "Short Entry", Alert.BAR, Sound.DING);
Alert(MACDBB_Line crosses above MACDBB_CrossFromAboveVal, "MACDBB Crossed Up", Alert.BAR, Sound.DING);
Alert(MACDBB_Line crosses below MACDBB_CrossFromBelowVal, "MACDBB Crossed Down", Alert.BAR, Sound.DING);
Alert(STOCHSCALPER_squeeze_signal, "Scalper Squeeze", Alert.BAR, Sound.DING);

---------------------------------------------------------------------------------------------------------------------------


Balanced BB Breakout Bullish/Bearish Scanner:

Due to limitations in TOS, and the complexity of the study, some features had to be omitted from the scanner.
Most options are kept. It works exactly like the chart arrows.
If you want buy signal, you set the value to 1. If you want sell signal, you set the value to -1.

Give this new version a try and let us know how it works:

#
# B4 Scanner
#
# Free for use. Header credits must be included when any form of the code included in this package is used.
# User assumes all risk. Author not responsible for errors or use of tool.
# Copyright (c) 2021 B4 Signals
#
# Get support at: https://b4signals.com
# Join us at: https://discord.gg/kD3pKE2CQd
#
#
# v3.0 - barbros / chuck - official release

### MACDBB

input MACDBB_FastLength = 12;
input MACDBB_SlowLength = 26;
input MACDBB_BandLength = 15;
input MACDBB_NumDev = 1.0;

def MACDBB_Data = MACD(fastLength = MACDBB_FastLength, slowLength = MACDBB_SlowLength, MACDLength = 5);
def MACDBB_Upper = reference BollingerBands(price = MACDBB_Data, length = MACDBB_BandLength,
                                             Num_Dev_Dn = -MACDBB_NumDev, Num_Dev_Up = MACDBB_NumDev).UpperBand;;
def MACDBB_Lower = reference BollingerBands(price = MACDBB_Data, length = MACDBB_BandLength,
                                             Num_Dev_Dn = -MACDBB_NumDev, Num_Dev_Up = MACDBB_NumDev).Lowerband;
def MACDBB_Buy = MACDBB_Data > MACDBB_Upper;
def MACDBB_Sell = MACDBB_Data <= MACDBB_Lower;

### RSI/STOCASTIC/MACD CONFLUENCE COMBO

def RSM_MACD_Diff = reference MACD(fastLength = 12, slowLength = 26, MACDLength = 9).Diff;
def RSM_MACD_ZeroLine = 0;
def RSM_RSI = reference RSI(length = 7).RSI;
def RSM_Stoch_Val = 100 * (close - lowest(low, 14)) / (highest(high, 14) - lowest(low, 14));
def RSM_StochSlowK = SimpleMovingAvg(SimpleMovingAvg(RSM_Stoch_Val,3),3);

def RSM_rsiGreen = RSM_RSI >= 50;
def RSM_rsiRed = RSM_RSI < 50;
def RSM_stochGreen = RSM_StochSlowK >= 50;
def RSM_stochRed = RSM_StochSlowK < 50;
def RSM_macdGreen = RSM_MACD_Diff >= 0;
def RSM_macdRed = RSM_MACD_Diff < 0;
def RSM_Buy = RSM_rsiGreen and RSM_stochGreen and RSM_macdGreen;
def RSM_Sell = RSM_rsiRed and RSM_stochRed and RSM_macdRed;

### RSI IFT

def RSI_IFT_R = reference RSI(5, close) - 50;
def RSI_IFT_AvgRSI = MovingAverage(AverageType.Exponential,RSI_IFT_R,9);
def RSI_IFT_InverseRSI = (Power(Double.E, 2 * RSI_IFT_AvgRSI) - 1) / (Power(Double.E, 2 * RSI_IFT_AvgRSI) + 1);
def RSI_IFT_Direction = if BarNumber() == 0 then 0
                        else if (RSI_IFT_InverseRSI[1] > 0) and (RSI_IFT_InverseRSI < 0) then -1
                        else if (RSI_IFT_InverseRSI > 0) and (RSI_IFT_InverseRSI[1] < 0) then 1
                        else RSI_IFT_Direction[1];

### Fibonacci SuperTrend

input FST_Length = 11;
input FST_Retrace = 23.6;
input FST_UseHighLow = yes;

def FST_h = if FST_UseHighLow then high else close;
def FST_l = if FST_UseHighLow then low else close;
def FST_minL = Lowest(FST_l, FST_Length);
def FST_maxH = Highest(FST_h, FST_Length);

def FST_hh = if FST_h > FST_maxH[1] then FST_h else FST_hh[1];
def FST_ll = if FST_l < FST_minL[1] then FST_l else FST_ll[1];
def FST_trend = if FST_h > FST_maxH[1] then 1 else if FST_l < FST_minL[1] then -1 else FST_trend[1];
def FST_Direction = if BarNumber() == 0 then 0
                    else if FST_trend != 1 then -1
                    else if FST_trend == 1 then 1
                    else FST_Direction[1];

### Strategy

input BullBear_Include_FST = yes;       #hint BullBear_Include_FST: Include Fibonacci SuperTrend in the vertical line strategy
input BullBear_Include_RSI_IFT = yes;   #hint BullBear_Include_RSI_IFT: Include RSI IFT in the vertical line strategy

def BullBear_Buy = (!BullBear_Include_FST or FST_Direction == 1) and
                   (!BullBear_Include_RSI_IFT or RSI_IFT_Direction == 1);
def BullBear_Sell = (!BullBear_Include_FST or FST_Direction == -1) and
                    (!BullBear_Include_RSI_IFT or RSI_IFT_Direction == -1);

def Strategy_Buy = BullBear_Buy and MACDBB_Buy and RSM_Buy;
def Strategy_Sell = BullBear_Sell and MACDBB_Sell and RSM_Sell;

plot StrategyArrow = if Strategy_Buy and !Strategy_Buy[1] then 1
                    else if Strategy_Sell and !Strategy_Sell[1] then -1
                    else 0;

plot TrendDirection = if MACDBB_Data > MACDBB_Data[1] and MACDBB_Data >= MACDBB_Upper then 2
                    else if MACDBB_Data < MACDBB_Data[1] and MACDBB_Data >= MACDBB_Upper then 1
                    else if MACDBB_Data < MACDBB_Data[1] and MACDBB_Data <= MACDBB_Lower then -2
                    else if MACDBB_Data > MACDBB_Data[1] and MACDBB_Data <= MACDBB_Lower then -1
                    else 0;

--------------------------------------------------------------------------------------------------------------------------------------------

ADX Add-On

Here is a little something extra I was working on and barbaros fixed up for me. It is an ADX line. It is set to 35 and can be adjusted to your discretion. Just copy and paste the code adding it to the bottom of your script:
[CODE#
#mADX
#
# Free for use. Header credits must be included when any form of the code included in this package is used.
# User assumes all risk. Author not responsible for errors or use of tool.
# Copyright (c) 2021 B4 Signals
#
# Get support at: https://b4signals.com
# Join us at: https://discord.gg/kD3pKE2CQd
#
#
# v1.0 - chuck - initial integration
# v2.0 - barbaros - cleanup
# v2.1 - barbaros - added adx limit

input ADDON_ADX_show = yes;
input ADDON_ADX_dmilength = 10;
input ADDON_ADX_limit = 35; #hint ADDON_ADX_limit: 25 for daily and 35 for intraday suggested
input ADDON_ADX_dmiaverageType = AverageType.WILDERS;

def ADDON_ADX_ADX = (DMI(ADDON_ADX_dmilength, ADDON_ADX_dmiaverageType).ADX) - 18;
def ADDON_ADX_signal = ADDON_ADX_ADX> ADDON_ADX_limit and ADDON_ADX_ADX >= 1 and ADDON_ADX_ADX < ADDON_ADX_ADX[1] and ADDON_ADX_ADX[1] > ADDON_ADX_ADX[2];

AddVerticalLine (ADDON_ADX_show and ADDON_ADX_signal, "mADX", Color.WHITE);
Alert(ADDON_ADX_signal, "mADX", Alert.BAR, Sound.Ding);[/CODE]

--------------------------------------------------------------------------------------------------------------------------------------------

Watchlist Column

# B4 Watchlist Column
#
# Free for use. Header credits must be included when any form of the code included in this package is used.
# User assumes all risk. Author not responsible for errors or use of tool.
# Copyright (c) 2021 B4 Signals
#
# Get support at: https://b4signals.com
# Join us at: https://discord.gg/kD3pKE2CQd
#
#
# v3.0 - barbros / chuck - official release

### MACDBB

input MACDBB_FastLength = 12;
input MACDBB_SlowLength = 26;
input MACDBB_BandLength = 15;
input MACDBB_NumDev = 1.0;

def MACDBB_Data = MACD(fastLength = MACDBB_FastLength, slowLength = MACDBB_SlowLength, MACDLength = 5);
def MACDBB_Upper = reference BollingerBands(price = MACDBB_Data, length = MACDBB_BandLength,
                                             Num_Dev_Dn = -MACDBB_NumDev, Num_Dev_Up = MACDBB_NumDev).UpperBand;;
def MACDBB_Lower = reference BollingerBands(price = MACDBB_Data, length = MACDBB_BandLength,
                                             Num_Dev_Dn = -MACDBB_NumDev, Num_Dev_Up = MACDBB_NumDev).Lowerband;
def MACDBB_Buy = MACDBB_Data > MACDBB_Upper;
def MACDBB_Sell = MACDBB_Data <= MACDBB_Lower;

### RSI/STOCASTIC/MACD CONFLUENCE COMBO

def RSM_MACD_Diff = reference MACD(fastLength = 12, slowLength = 26, MACDLength = 9).Diff;
def RSM_MACD_ZeroLine = 0;
def RSM_RSI = reference RSI(length = 7).RSI;
def RSM_Stoch_Val = 100 * (close - lowest(low, 14)) / (highest(high, 14) - lowest(low, 14));
def RSM_StochSlowK = SimpleMovingAvg(SimpleMovingAvg(RSM_Stoch_Val,3),3);

def RSM_rsiGreen = RSM_RSI >= 50;
def RSM_rsiRed = RSM_RSI < 50;
def RSM_stochGreen = RSM_StochSlowK >= 50;
def RSM_stochRed = RSM_StochSlowK < 50;
def RSM_macdGreen = RSM_MACD_Diff >= 0;
def RSM_macdRed = RSM_MACD_Diff < 0;
def RSM_Buy = RSM_rsiGreen and RSM_stochGreen and RSM_macdGreen;
def RSM_Sell = RSM_rsiRed and RSM_stochRed and RSM_macdRed;

### RSI IFT

def RSI_IFT_R = reference RSI(5, close) - 50;
def RSI_IFT_AvgRSI = MovingAverage(AverageType.Exponential,RSI_IFT_R,9);
def RSI_IFT_InverseRSI = (Power(Double.E, 2 * RSI_IFT_AvgRSI) - 1) / (Power(Double.E, 2 * RSI_IFT_AvgRSI) + 1);
def RSI_IFT_Direction = if BarNumber() == 0 then 0
                        else if (RSI_IFT_InverseRSI[1] > 0) and (RSI_IFT_InverseRSI < 0) then -1
                        else if (RSI_IFT_InverseRSI > 0) and (RSI_IFT_InverseRSI[1] < 0) then 1
                        else RSI_IFT_Direction[1];

### Fibonacci SuperTrend

input FST_Length = 11;
input FST_Retrace = 23.6;
input FST_UseHighLow = yes;

def FST_h = if FST_UseHighLow then high else close;
def FST_l = if FST_UseHighLow then low else close;
def FST_minL = Lowest(FST_l, FST_Length);
def FST_maxH = Highest(FST_h, FST_Length);

def FST_hh = if FST_h > FST_maxH[1] then FST_h else FST_hh[1];
def FST_ll = if FST_l < FST_minL[1] then FST_l else FST_ll[1];
def FST_trend = if FST_h > FST_maxH[1] then 1 else if FST_l < FST_minL[1] then -1 else FST_trend[1];
def FST_Direction = if BarNumber() == 0 then 0
                    else if FST_trend != 1 then -1
                    else if FST_trend == 1 then 1
                    else FST_Direction[1];

### Strategy

input BullBear_Include_FST = yes;       #hint BullBear_Include_FST: Include Fibonacci SuperTrend in the vertical line strategy
input BullBear_Include_RSI_IFT = yes;   #hint BullBear_Include_RSI_IFT: Include RSI IFT in the vertical line strategy

def BullBear_Buy = (!BullBear_Include_FST or FST_Direction == 1) and
                   (!BullBear_Include_RSI_IFT or RSI_IFT_Direction == 1);
def BullBear_Sell = (!BullBear_Include_FST or FST_Direction == -1) and
                    (!BullBear_Include_RSI_IFT or RSI_IFT_Direction == -1);

def Strategy_Buy = BullBear_Buy and MACDBB_Buy and RSM_Buy;
def Strategy_Sell = BullBear_Sell and MACDBB_Sell and RSM_Sell;


AssignBackgroundColor(
    if Strategy_Buy and !Strategy_Buy[1] then Color.GREEN
    else if Strategy_Sell and !Strategy_Sell[1] then Color.RED
    else color.CURRENT
);

AddLabel(yes,
    if Strategy_Buy and !Strategy_Buy[1] then "Buy"
    else if Strategy_Sell and !Strategy_Sell[1] then "Sell"
    else if Strategy_Buy then "Long"
    else if Strategy_Sell then "Short"
    else "Neutral",

    if Strategy_Buy and !Strategy_Buy[1] then Color.BLACK
    else if Strategy_Sell and !Strategy_Sell[1] then Color.WHITE
    else if Strategy_Buy then Color.LIGHT_GREEN
    else if Strategy_Sell then Color.LIGHT_RED
    else Color.CURRENT
);

--------------------------------------------------------------------------------------------------------------------------------------------

Squeeze Watchlist Column

# B4 Watchlist Column for Squeeze
#
# Free for use. Header credits must be included when any form of the code included in this package is used.
# User assumes all risk. Author not responsible for errors or use of tool.
# Copyright (c) 2021 B4 Signals
#
# Get support at: https://b4signals.com
# Join us at: https://discord.gg/kD3pKE2CQd
#
#
# v1.0 - barbros / chuck - official release

def STOCHSCALPER_oSS = (open[1] + close[1]) / 2;
def STOCHSCALPER_hSS = Max(high, close[1]);
def STOCHSCALPER_lSS = Min(low, close[1]);
def STOCHSCALPER_cSS = (STOCHSCALPER_oSS + STOCHSCALPER_hSS + STOCHSCALPER_lSS + close) / 4;

def STOCHSCALPER_mean = Average(STOCHSCALPER_cSS, 20);
def STOCHSCALPER_sd = StDev(STOCHSCALPER_cSS, 20);
def STOCHSCALPER_atr = Average(TrueRange(STOCHSCALPER_cSS, STOCHSCALPER_hSS, STOCHSCALPER_lSS), 20);
def STOCHSCALPER_squeeze = if (STOCHSCALPER_mean + (2 * STOCHSCALPER_sd)) < (STOCHSCALPER_mean + (1.5 * STOCHSCALPER_atr)) then yes else no;

AddLabel(yes, if STOCHSCALPER_squeeze then "SQZ" else "", if STOCHSCALPER_squeeze then Color.WHITE else Color.CURRENT);

Here is the latest beta version:

https://tos.mx/0aqdRea

# Balanced BB Breakout Indicator
# Free for use. Header credits must be included when any form of the code included in this package is used.
# User assumes all risk. Author not responsible for errors or use of tool.
# v1.2 - Assembled by Chuck Edwards
# v2.0 - Barbaros - cleanup
# v2.1 - Barbaros - added RSI IFT, NumberOfShares, BB crossing options
# v2.2 - Barbaros - fixed PnL issues and removed intraDay filter
# v2.3 - Barbaros - changed input and variable names, RSM is re-done
# v2.4 - Barbaros - removed PnL, added strategy signal arrows and alerts,
#                   added Fibonacci SuperTrend, added unified bar color selection
# v2.5 - Chuck    - added divergence and squeeze label, added squeeze alert
#        Barbaros - cleanup, changed divergance to text, show stoch labels all the time
#        Barbaros - added trend squeeze label for BB, added alerts for Stoch Scalper
#        Barbaros - added options to hide clouds and labels
#        Barbaros - changed trend and divergence colors and text to match
#        Barbaros - removed volume and keltner channel studies, unified squeeze
# v2.6 - Barbaros - optimizations, added hints and separated out BullBear options for combinations

declare lower;

input ShowMarketForecastLabel = yes;        #hint ShowMarketForecastLabel: Show the intermediate Market Forecast label
input ShowMACDBBLabel = yes;                #hint ShowMACDBBLabel: Show the MACDBB based Trend label
input ShowMACDBBCloud = no;                 #hint ShowMACDBBCloud: Show the MACDBB cloud shaded between BB
input ShowRSMCloud = no;                    #hint ShowRSMCloud: Show the vertical cloud based on RSM
input ShowHMALabel = yes;                   #hint ShowHMALabel: Show HUll Moving Average based Divergence label
input ShowSTOCHSCALPERSqueezeLabel = yes;   #hint ShowSTOCHSCALPERSqueezeLabel: Show Stochastic Scalper based squeeze label
input ShowSTOCHSCALPERSqueezeCloud = yes;   #hint ShowSTOCHSCALPERSqueezeCloud: Show Stochastic Scalper based squeeze cloud between BB
input ShowBullBearVerticalLines = yes;      #hint ShowBullBearVerticalLines: Show vertical lines for bullish or bearish direction

### Market Forecast

def pIntermediate = MarketForecast().Intermediate;

AddLabel(ShowMarketForecastLabel,
    "Market Forecast " +
    if pIntermediate >= 80 then "Bullish" else
    if pIntermediate <= 20 then "Bearish" else
    if pIntermediate > pIntermediate[1] then "Rising" else
    if pIntermediate < pIntermediate[1] then "Falling" else "Neutral",
    if pIntermediate >= 80 then Color.GREEN else
    if pIntermediate <= 20 then Color.RED else
    if pIntermediate > pIntermediate[1] then Color.LIGHT_GREEN else
    if pIntermediate < pIntermediate[1] then Color.LIGHT_RED else Color.GRAY
);

### MACDBB

input MACDBB_FastLength = 12;
input MACDBB_SlowLength = 26;
input MACDBB_BandLength = 15;
input MACDBB_NumDev = 1.0;

def MACDBB_Data = MACD(fastLength = MACDBB_FastLength, slowLength = MACDBB_SlowLength, MACDLength = 5);

plot MACDBB_Upper = reference BollingerBands(price = MACDBB_Data, length = MACDBB_BandLength,
                                             Num_Dev_Dn = -MACDBB_NumDev, Num_Dev_Up = MACDBB_NumDev).UpperBand;
MACDBB_Upper.SetDefaultColor(Color.RED);
MACDBB_Upper.HideTitle();
MACDBB_Upper.HideBubble();

plot MACDBB_Lower = reference BollingerBands(price = MACDBB_Data, length = MACDBB_BandLength,
                                             Num_Dev_Dn = -MACDBB_NumDev, Num_Dev_Up = MACDBB_NumDev).Lowerband;
MACDBB_Lower.SetDefaultColor(Color.GREEN);
MACDBB_Lower.HideTitle();
MACDBB_Lower.HideBubble();

plot MACDBB_Midline = reference BollingerBands(price = MACDBB_Data, length = MACDBB_BandLength,
                                               Num_Dev_Dn = -MACDBB_NumDev, Num_Dev_Up = MACDBB_NumDev).MidLine;
MACDBB_Midline.SetDefaultColor(Color.LIGHT_RED);
MACDBB_Midline.SetStyle(Curve.FIRM);
MACDBB_MidLine.HideTitle();
MACDBB_MidLine.HideBubble();

plot MACDBB_Line = MACDBB_Data;
MACDBB_Line.AssignValueColor(
    if MACDBB_Line > MACDBB_Line[1] and MACDBB_Line >= MACDBB_Upper then Color.GREEN
    else if MACDBB_Line < MACDBB_Line[1] and MACDBB_Line >= MACDBB_Upper then Color.DARK_GREEN
    else if MACDBB_Line < MACDBB_Line[1] and MACDBB_Line <= MACDBB_Lower then Color.RED else
    if MACDBB_Line > MACDBB_Line[1] and MACDBB_Line <= MACDBB_Lower then Color.DARK_RED
    else Color.GRAY
);
MACDBB_Line.SetLineWeight(1);

plot MACDBB_Dots = MACDBB_Data;
MACDBB_Dots.AssignValueColor(
    if MACDBB_Line > MACDBB_Line[1] and MACDBB_Line > MACDBB_Upper then Color.GREEN
    else if MACDBB_Line < MACDBB_Line[1] and MACDBB_Line > MACDBB_Upper then Color.DARK_GREEN
    else if MACDBB_Line < MACDBB_Line[1] and MACDBB_Line < MACDBB_Lower then Color.RED
    else if MACDBB_Line > MACDBB_Line[1] and MACDBB_Line < MACDBB_Lower then Color.DARK_RED
    else Color.GRAY
);
MACDBB_Dots.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
MACDBB_Dots.SetLineWeight(1);
MACDBB_Dots.HideTitle();
MACDBB_Dots.HideBubble();

input MACDBB_CrossFromAboveAlert = {default "Zero", "Lower", "Middle", "Upper"};
input MACDBB_CrossFromBelowAlert = {default "Zero", "Lower", "Middle", "Upper"};

def MACDBB_CrossFromAboveVal = if MACDBB_CrossFromAboveAlert == MACDBB_CrossFromAboveAlert.Lower then MACDBB_Lower
                               else if MACDBB_CrossFromAboveAlert == MACDBB_CrossFromAboveAlert.Upper then MACDBB_Upper
                              else 0;
def MACDBB_CrossFromBelowVal = if MACDBB_CrossFromBelowAlert == MACDBB_CrossFromBelowAlert.Lower then MACDBB_Lower
                               else if MACDBB_CrossFromBelowAlert == MACDBB_CrossFromBelowAlert.Upper then MACDBB_Upper
                               else 0;

def MACDBB_Buy = MACDBB_Data > MACDBB_Upper;
def MACDBB_Sell = MACDBB_Data <= MACDBB_Lower;

AddLabel(ShowMACDBBLabel,
    "Trend " +
    if MACDBB_Line > MACDBB_Line[1] and MACDBB_Line > MACDBB_Upper then "Bullish"
    else if MACDBB_Line < MACDBB_Line[1] and MACDBB_Line > MACDBB_Upper then "Bullish (decreasing)"
    else if MACDBB_Line < MACDBB_Line[1] and MACDBB_Line < MACDBB_Lower then "Bearish"
    else if MACDBB_Line > MACDBB_Line[1] and MACDBB_Line < MACDBB_Lower then "Bearish (increasing)"
    else "Neutral",
    if MACDBB_Line > MACDBB_Line[1] and MACDBB_Line > MACDBB_Upper then Color.GREEN
    else if MACDBB_Line < MACDBB_Line[1] and MACDBB_Line > MACDBB_Upper then Color.DARK_GREEN
    else if MACDBB_Line < MACDBB_Line[1] and MACDBB_Line < MACDBB_Lower then Color.RED
    else if MACDBB_Line > MACDBB_Line[1] and MACDBB_Line < MACDBB_Lower then Color.DARK_RED
    else Color.GRAY
);

AddCloud(if ShowMACDBBCloud then MACDBB_Upper else MACDBB_Lower, MACDBB_Lower, Color.LIGHT_RED);

### RSI/STOCASTIC/MACD CONFLUENCE COMBO

plot RSM_MACD_Diff = reference MACD("fast length" = 12, "slow length" = 26, "macd length" = 9).Diff;
RSM_MACD_Diff.SetDefaultColor(GetColor(5));
RSM_MACD_Diff.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
RSM_MACD_Diff.SetLineWeight(4);
RSM_MACD_Diff.DefineColor("Positive and Up", Color.GREEN);
RSM_MACD_Diff.DefineColor("Positive and Down", Color.DARK_GREEN);
RSM_MACD_Diff.DefineColor("Negative and Down", Color.RED);
RSM_MACD_Diff.DefineColor("Negative and Up", Color.DARK_RED);
RSM_MACD_Diff.AssignValueColor(
    if RSM_MACD_Diff >= 0 then
        if RSM_MACD_Diff > RSM_MACD_Diff[1] then RSM_MACD_Diff.Color("Positive and Up") else RSM_MACD_Diff.Color("Positive and Down")
    else
        if RSM_MACD_Diff < RSM_MACD_Diff[1] then RSM_MACD_Diff.Color("Negative and Down") else RSM_MACD_Diff.Color("Negative and Up")
);

plot RSM_MACD_ZeroLine = 0;
RSM_MACD_ZeroLine.SetDefaultColor(Color.RED);
RSM_MACD_ZeroLine.HideTitle();
RSM_MACD_ZeroLine.HideBubble();

def RSM_RSI = reference RSI(length = 7).RSI;

def RSM_Stoch_Val = 100 * (close - lowest(low, 14)) / (highest(high, 14) - lowest(low, 14));
def RSM_StochSlowK = SimpleMovingAvg(SimpleMovingAvg(RSM_Stoch_Val,3),3);

def RSM_rsiGreen = RSM_RSI >= 50;
def RSM_rsiRed = RSM_RSI < 50;
def RSM_stochGreen = RSM_StochSlowK >= 50;
def RSM_stochRed = RSM_StochSlowK < 50;
def RSM_macdGreen = RSM_MACD_Diff >= 0;
def RSM_macdRed = RSM_MACD_Diff < 0;
def RSM_Buy = RSM_rsiGreen and RSM_stochGreen and RSM_macdGreen;
def RSM_Sell = RSM_rsiRed and RSM_stochRed and RSM_macdRed;

# Shade areas based on criteria; adjust as needed

AddCloud(
    if ShowRSMCloud and RSM_rsiGreen and RSM_stochGreen and RSM_macdGreen then Double.POSITIVE_INFINITY else Double.NaN,
    if ShowRSMCloud and RSM_rsiGreen and RSM_stochGreen and RSM_macdGreen then Double.NEGATIVE_INFINITY else Double.NaN, Color.LIGHT_GREEN
);
AddCloud(
    if ShowRSMCloud and RSM_rsiRed and RSM_stochRed and RSM_macdRed then Double.POSITIVE_INFINITY else Double.NaN,
    if ShowRSMCloud and RSM_rsiRed and RSM_stochRed and RSM_macdRed then Double.NEGATIVE_INFINITY else Double.NaN, Color.LIGHT_RED
);

### Divergance
input HMA_Length = 55;
input HMA_Lookback = 2;

def HMA = HullMovingAvg(price = HL2, length = HMA_Length);
def HMA_delta = HMA[1] - HMA[HMA_Lookback + 1];
def HMA_delta_per_bar = HMA_delta / HMA_Lookback;
def HMA_next_bar = HMA[1] + HMA_delta_per_bar;
def HMA_concavity = if HMA > HMA_next_bar then 1 else -1;
def HMA_MA_Max = if HMA[-1] < HMA and HMA > HMA[1] then HMA else Double.NaN;
def HMA_MA_Min = if HMA[-1] > HMA and HMA < HMA[1] then HMA else Double.NaN;
def HMA_divergence = HMA - HMA_next_bar;

AddLabel(ShowHMALabel,
        "Divergence " +
        if HMA_concavity < 0 then
            if HMA_divergence[1] > HMA_divergence then "Bearish (increasing)"
            else "Bearish"
        else
            if HMA_divergence[1] < HMA_divergence then "Bullish (decreasing)"
            else "Bullish",
        if HMA_concavity < 0 then
            if HMA_divergence[1] > HMA_divergence then Color.DARK_RED
            else Color.RED
        else
            if HMA_divergence[1] < HMA_divergence then Color.DARK_GREEN
            else Color.GREEN
);

### Stocastic Scalper

def STOCHSCALPER_oSS = (open[1] + close[1]) / 2;
def STOCHSCALPER_hSS = Max(high, close[1]);
def STOCHSCALPER_lSS = Min(low, close[1]);
def STOCHSCALPER_cSS = (STOCHSCALPER_oSS + STOCHSCALPER_hSS + STOCHSCALPER_lSS + close) / 4;

def STOCHSCALPER_mean = Average(STOCHSCALPER_cSS, 20);
def STOCHSCALPER_sd = StDev(STOCHSCALPER_cSS, 20);
def STOCHSCALPER_atr = Average(TrueRange(STOCHSCALPER_cSS, STOCHSCALPER_hSS, STOCHSCALPER_lSS), 20);
def STOCHSCALPER_squeeze = if (STOCHSCALPER_mean + (2 * STOCHSCALPER_sd)) < (STOCHSCALPER_mean + (1.5 * STOCHSCALPER_atr)) then yes else no;
def STOCHSCALPER_squeeze_signal = !STOCHSCALPER_squeeze[1] and STOCHSCALPER_squeeze;

AddCloud(if ShowSTOCHSCALPERSqueezeCloud and STOCHSCALPER_squeeze then MACDBB_Upper else Double.NaN,
         if ShowSTOCHSCALPERSqueezeCloud and STOCHSCALPER_squeeze then MACDBB_Lower else Double.NaN, Color.YELLOW);
AddLabel(ShowSTOCHSCALPERSqueezeLabel, "Scalper Squeeze", if STOCHSCALPER_squeeze then Color.WHITE else Color.GRAY);

### Balance of Power

input BOP_EMA_Length = 20;
input BOP_TEMA_Length = 20;

def BOP_THL = If(high != low, high - low, 0.01);
def BOP_BullOpen = (high - open) / BOP_THL;
def BOP_BearOpen = (open - low) / BOP_THL;
def BOP_BullClose = (close - low) / BOP_THL;
def BOP_BearClose = (high - close) / BOP_THL;
def BOP_BullOC = If(close > open, (close - open) / BOP_THL, 0);
def BOP_BearOC = If(open > close, (open - close) / BOP_THL, 0);
def BOP_BullReward = (BOP_BullOpen + BOP_BullClose + BOP_BullOC) / 1;
def BOP_BearReward = (BOP_BearOpen + BOP_BearClose + BOP_BearOC) / 1;

def BOP_BOP = BOP_BullReward - BOP_BearReward;
def BOP_SmoothBOP = ExpAverage(BOP_BOP, BOP_EMA_Length);
def BOP_xPrice = BOP_SmoothBOP;
def BOP_xEMA1 = ExpAverage(BOP_SmoothBOP, BOP_TEMA_Length);
def BOP_xEMA2 = ExpAverage(BOP_xEMA1, BOP_TEMA_Length);
def BOP_xEMA3 = ExpAverage(BOP_xEMA2, BOP_TEMA_Length);
def BOP_nRes = 3 * BOP_xEMA1 - 3 * BOP_xEMA2 + BOP_xEMA3;

def BOP_SmootherBOP = BOP_nRes;
def BOP_s1 = BOP_SmoothBOP;
def BOP_s2 = BOP_SmootherBOP;
def BOP_s3 = BOP_SmootherBOP[2];
def BOP_Direction = if BarNumber() == 1 then 0
                    else if BOP_s2 < BOP_s3 and BOP_s2[1] > BOP_s3[1] then -1
                    else if BOP_s2 > BOP_s3 and BOP_s2[1] < BOP_s3[1] then 1
                    else BOP_Direction[1];

### RSI IFT

def RSI_IFT_R = reference RSI(5, close) - 50;
def RSI_IFT_AvgRSI = MovingAverage(AverageType.Exponential,RSI_IFT_R,9);
def RSI_IFT_InverseRSI = (Power(Double.E, 2 * RSI_IFT_AvgRSI) - 1) / (Power(Double.E, 2 * RSI_IFT_AvgRSI) + 1);
def RSI_IFT_Direction = if BarNumber() == 0 then 0
                        else if (RSI_IFT_InverseRSI[1] > 0) and (RSI_IFT_InverseRSI < 0) then -1
                        else if (RSI_IFT_InverseRSI > 0) and (RSI_IFT_InverseRSI[1] < 0) then 1
                        else RSI_IFT_Direction[1];

### Fibonacci SuperTrend

input FST_Length = 11;
input FST_Retrace = 23.6;
input FST_UseHighLow = yes;

def FST_h = if FST_UseHighLow then high else close;
def FST_l = if FST_UseHighLow then low else close;
def FST_minL = Lowest(FST_l, FST_Length);
def FST_maxH = Highest(FST_h, FST_Length);

def FST_hh = if FST_h > FST_maxH[1] then FST_h else FST_hh[1];
def FST_ll = if FST_l < FST_minL[1] then FST_l else FST_ll[1];
def FST_trend = if FST_h > FST_maxH[1] then 1 else if FST_l < FST_minL[1] then -1 else FST_trend[1];
def FST_Direction = if BarNumber() == 0 then 0
                    else if FST_trend != 1 then -1
                    else if FST_trend == 1 then 1
                    else FST_Direction[1];

### Bar Color

input BarColor = { "None", default "RSM", "FibonacciSuperTrend" };    #hint BarColor: Paint bars with RSM or Fibonacci SuperTrend direction

AssignPriceColor(
    if BarColor == BarColor.FibonacciSuperTrend then
        if FST_trend == 1 then Color.GREEN else Color.RED
    else if BarColor == BarColor.RSM then
        if RSM_Buy then Color.GREEN
        else if RSM_Sell then Color.RED
        else Color.DARK_GRAY
    else Color.CURRENT
);

### Strategy

input BullBear_Include_BOP = no;        #hint BullBear_Include_BOP: Include Balance of Power in the vertical line strategy
input BullBear_Include_FST = yes;       #hint BullBear_Include_FST: Include Fibonacci SuperTrend in the vertical line strategy
input BullBear_Include_RSI_IFT = yes;   #hint BullBear_Include_RSI_IFT: Include RSI IFT in the vertical line strategy

def BullBear_Buy = (!BullBear_Include_BOP or BOP_Direction == 1) and
                   (!BullBear_Include_FST or FST_Direction == 1) and
                   (!BullBear_Include_RSI_IFT or RSI_IFT_Direction == 1);
def BullBear_Sell = (!BullBear_Include_BOP or BOP_Direction == -1) and
                    (!BullBear_Include_FST or FST_Direction == -1) and
                    (!BullBear_Include_RSI_IFT or RSI_IFT_Direction == -1);

AddVerticalLine(ShowBullBearVerticalLines and BullBear_Buy and !BullBear_Buy[1],
                AsDollars(close),
                Color.GREEN, Curve.SHORT_DASH);
AddVerticalLine(ShowBullBearVerticalLines and BullBear_Sell and !BullBear_Sell[1],
                AsDollars(close),
                Color.RED, Curve.SHORT_DASH);

def Strategy_Buy = BullBear_Buy and MACDBB_Buy and RSM_Buy;
def Strategy_Sell = BullBear_Sell and MACDBB_Sell and RSM_Sell;
def Strategy_BuySignal = Strategy_Buy and !Strategy_Buy[1];
def Strategy_SellSignal = Strategy_Sell and !Strategy_Sell[1];

plot BuyArrow = if Strategy_BuySignal then 0 else Double.NaN;
BuyArrow.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
BuyArrow.SetDefaultColor(Color.WHITE);
BuyArrow.HideTitle();
BuyArrow.HideBubble();

plot SellArrow = if Strategy_SellSignal then 0 else Double.NaN;
SellArrow.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
SellArrow.SetDefaultColor(Color.WHITE);
SellArrow.HideTitle();
SellArrow.HideBubble();

### Alerts

Alert(Strategy_BuySignal, "Long Entry", Alert.BAR, Sound.DING);
Alert(Strategy_SellSignal, "Short Entry", Alert.BAR, Sound.DING);
Alert(MACDBB_Line crosses above MACDBB_CrossFromAboveVal, "MACDBB Crossed Up", Alert.BAR, Sound.DING);
Alert(MACDBB_Line crosses below MACDBB_CrossFromBelowVal, "MACDBB Crossed Down", Alert.BAR, Sound.DING);
Alert(STOCHSCALPER_squeeze_signal, "Scalper Squeeze", Alert.BAR, Sound.DING);

Many thanks to all those who are contributing to this project. Again, any new versions will be posted here to cut down on any confusion.

Disclaimer:

This indicator may or may not be suitable for you, it should not be used on its own. Instead, chartists should use it in conjunction with other analysis techniques. Constructive criticism welcomed in order to improve. Please report any bugs so we can continue to improve it.

 

[asragov]

Very interesting, Chuck - would you mind explaining these vertical lines / prices, and how do they work? Thanks very much

https://imgur.com/zQOKTOO

 

[Chuck]

@asragov , Those vertical lines are from the Balance Of Power Indicator. It is a possible buy or sell at that specific price.
It can be adjusted to your liking. I have it set at ema 20/tma 20....It has worked in the past petty good for stocks similar to AMD on a 2 min chart. On futures I like it set at ema34/tma34 on a 15 min chart. You can check its profitability and tweak its settings by setting your chart to 1 day aggregations variables ranging from 2,3,5,10 and 15 mins. Look at the label in the P/L statement to the top left on the indicator to see how much that strategy would have profited you.

NOTE: The code needs to be modified on that portion, because I have it set to only buy 1 share of stock instesd of 100. I did that for futures contracts ....Now I cant remember how to change it back. Maybe someone could improve that and make it able to user interface adjustable shares .

 

[Chuck]

@asragov , from your picture the settings are off on your instalation. I will give a screenshot of my settings.

 

[Chuck]

This is the link with updated code and default settings:

https://tos.mx/EU4qTOV

 

[Chuck]

Deleted to Illuminate confusion, please see post #1.

 

[JCPantocrator]

@Chuck Thank you very much for putting this together. This is simply an amazing compilation. The vertical lines are especially useful. Out of the box (with EMA/TEMA 20) it works well for many of the stocks I looked at for the 1HR chart. I just now wish I can go back in time and use this last week as it would have saved me quite a bit of money on some bad trades.

Note for those who want to get the most out of it, change the EMA/TEMA values up and down, as Chuck noted, and see the impact on P/L for each stock/ticker you want to trade for the specific chart time you wish. This is really an essential element to get the most out of it.

Thanks again buddy and keep up the good work!

 

[asragov]

This is the link with updated code and default settings:

https://tos.mx/GaYtlPX

Thanks very much for sharing the link and the work that went into this

 

[Joseph Patrick 18]

This is something I cooked up this morning. Not a lot went into it. Maybe you guys could refine it a little if you find it interesting. Any feedback welcomed. I am just learning to Thinkscroipt and learning by remixing things hear and their:

# Balanced BB Breakout Indicator

# Asymbled by Chuck Edwards

# V1.0

#################################################################
####################  TOS MARKET FORECAST #######################
#################################################################
#Edited by Chuck_E
declare lower;

plot pIntermediate = MarketForecast()."Intermediate" ;

DefineGlobalColor("Pre_Cyan", CreateColor(204, 255, 204)) ;
DefineGlobalColor("LabelGreen",  CreateColor(0, 165, 0)) ;

addlabel(yes,
if pIntermediate >= 80 then "Market Forecast Bullish" else
if pIntermediate <= 20 then "Market Forecast Bearish" else
if pIntermediate>pIntermediate[1] then "Market Forecast Rising" else
if pIntermediate<pIntermediate[1] then "Market Forecast Falling" else " ",
if pIntermediate >= 80 then GlobalColor("Pre_Cyan") else
if pIntermediate <= 20 then color.red else
if pIntermediate>pIntermediate[1] then GlobalColor("LabelGreen") else
if pIntermediate<pIntermediate[1] then color.RED else color.light_gray);


################################################################
####################      MACD_BB     ##########################
################################################################
# By Eric Purdy, Thinkscripter LLC
# Modification to color scheme by Rick_K 12/26/20.
# Edited color scheme Chuck_E 02/23/21.

###### MACD
input price = close;
input BBlength = 10;
input BBNum_Dev = 1.0;
input MACDfastLength = 12;
input MACDslowLength = 26;
input fastLengthMACD = 12;
input slowLengthMACD = 26;
input MACDLength = 5;
input averageTypeMACD = AverageType.WEIGHTED;
input showBreakoutSignals = no;

def MACD_Data = MACD(fastLength = MACDfastLength, slowLength = MACDslowLength, MACDLength = MACDLength);
plot MACD_Dots = MACD_Data;
plot MACD_Line = MACD_Data;

plot BB_Upper = reference BollingerBands(price = MACD_Line, length = BBlength, Num_Dev_Dn = -BBNum_Dev, Num_Dev_Up = BBNum_Dev).UpperBand;
plot BB_Lower = reference BollingerBands(price = MACD_Line, length = BBlength, Num_Dev_Dn = -BBNum_Dev, Num_Dev_Up = BBNum_Dev).Lowerband;
plot BB_Midline = reference BollingerBands(price = MACD_Line, length = BBlength, Num_Dev_Dn = -BBNum_Dev, Num_Dev_Up = BBNum_Dev).MidLine;

BB_Upper.SetDefaultColor(Color.RED);
BB_Lower.SetDefaultColor(Color.GREEN);
BB_Midline.SetDefaultColor(Color.LIGHT_RED);
BB_Midline.SetStyle(Curve.FIRM);

MACD_Line.AssignValueColor(if MACD_Line > MACD_Line[1] then color.green else color.red);
MACD_Line.AssignValueColor(if MACD_Line > MACD_Line[1] and MACD_Line >= BB_Upper then Color.GREEN else if MACD_Line < MACD_Line[1] and MACD_Line >= BB_Upper then Color.DARK_GREEN else if MACD_Line < MACD_Line[1] and MACD_Line <= BB_Lower then Color.RED else if MACD_Line > MACD_Line[1] and MACD_Line <= BB_Lower then Color.DARK_RED else Color.GRAY);
MACD_Line.SetLineWeight(1);

MACD_Dots.AssignValueColor(if MACD_Line > MACD_Line[1] then Color.green else Color.RED);
MACD_Dots.AssignValueColor(if MACD_Line > MACD_Line[1] and MACD_Line > BB_Upper then Color.GREEN else if MACD_Line < MACD_Line[1] and MACD_Line > BB_Upper then Color.DARK_GREEN else if MACD_Line < MACD_Line[1] and MACD_Line < BB_Lower then Color.RED else if MACD_Line > MACD_Line[1] and MACD_Line < BB_Lower then Color.DARK_RED else Color.GRAY);

MACD_Dots.SetPaintingStrategy(PaintingStrategy.LINE_VS_POINTS);
MACD_Dots.SetLineWeight(1);

plot zero = 0;
zero.SetDefaultColor(Color.WHITE);
zero.SetStyle(Curve.SHORT_DASH);
zero.SetLineWeight(1);


###### Keltner Channels


input displace = 0;
input factor = 1.5;
input length = 20;
input averageType = AverageType.EXPONENTIAL;
input trueRangeAverageType = AverageType.EXPONENTIAL;

def shift = factor * MovingAverage(trueRangeAverageType, TrueRange(high, close, low), length);
def average = MovingAverage(averageType, price, length);
#def Avg = average[-displace];

def Upper_Band = average[-displace] + shift[-displace];
def Lower_Band = average[-displace] - shift[-displace];


###### Bollinger Bands


input BBLength2 = 20;
input Num_Dev_Dn = -2.0;
input Num_Dev_up = 2.0;
input bb_averageType = AverageType.SIMPLE;

def sDev = StDev(data = price[-displace], length = BBLength2);
def MidLine = MovingAverage(bb_averageType, data = price[-displace], length = BBLength2);
def LowerBand = MidLine + Num_Dev_Dn * sDev;
def UpperBand = MidLine + Num_Dev_up * sDev;


###### Add Cloud


AddCloud(if UpperBand <= Upper_Band and LowerBand >= Lower_Band then BB_Upper else BB_Lower,  BB_Lower,  Color.YELLOW);
AddCloud( BB_Upper, BB_Lower, Color.LIGHT_RED );


###### Add Alert


def bull_cross = MACD_Line crosses above zero;
def bear_cross = MACD_Line crosses below zero;

Alert(bull_cross, "Time to Buy", Alert.BAR, Sound.Chimes);
Alert(bear_cross, "Time to Sell", Alert.BAR, Sound.Bell);


################################################################
##########   RSI/STOCASTIC/MACD CONFLUENCE COMBO   #############
################################################################
#CHANGELOG
# 2020.10.27 V1.0 [USER=6343]@cos251[/USER] - Added RSI, StochasticSlow and MACD to same indicator; this will plot only MACD but also
#                   - calculates RSI and Sotchasit; Will shade the lower plot area of the following conditions are met
#                    Shade GREEN = RSI > 50 and SlowK > 50 and (macd)Value > (macd)Avg
#                    Shade RED = RSI < 50 and SlowK < 50 and (macd)Value < (macd)Avg     
#REQUIREMENTS - RSI Set to 7, EXPONENTIAL
#               Stoch Slow 5(not14) and 3 WILDERS
#               MACD 12,26,9 WEIGHTED
#CREDITS
# requesed by "[USER=4682]@Joseph Patrick 18[/USER]"
#LINK
# [URL]https://rockwell-files.s3.amazonaws.com/PXCompanionGuide2ndEd_cover.pdf[/URL]
# Markus Heikoetter who is the author of the Power X Strategy
# [URL]https://usethinkscript.com/threads/mimicking-power-x-strategy-by-markus-heitkoetter.4283/[/URL]
#Editeded by Chuck_E


plot Value = MovingAverage(averageTypeMACD, close, fastLengthMACD) - MovingAverage(averageTypeMACD, close, slowLengthMACD);
plot Avg = MovingAverage(averageTypeMACD, Value, MACDLength);
plot Diff = Value - Avg;
plot ZeroLine = 0;
plot UpSignalMACD = if Diff crosses above ZeroLine then ZeroLine else Double.NaN;
plot DownSignalMACD = if Diff crosses below ZeroLine then ZeroLine else Double.NaN;

UpSignalMACD.SetHiding(!showBreakoutSignals);
DownSignalMACD.SetHiding(!showBreakoutSignals);

Value.SetDefaultColor(Color.GREEN);
Avg.SetDefaultColor(Color.RED);
Diff.SetDefaultColor(GetColor(5));
Diff.SetPaintingStrategy(PaintingStrategy.HISTOGRAM);
Diff.SetLineWeight(4);
Diff.DefineColor("Positive and Up", Color.GREEN);
Diff.DefineColor("Positive and Down", Color.DARK_GREEN);
Diff.DefineColor("Negative and Down", Color.RED);
Diff.DefineColor("Negative and Up", Color.DARK_RED);
Diff.AssignValueColor(if Diff >= 0 then if Diff > Diff[1] then Diff.color("Positive and Up") else Diff.color("Positive and Down") else if Diff < Diff[1] then Diff.color("Negative and Down") else Diff.color("Negative and Up"));

ZeroLine.SetDefaultColor(GetColor(0));

UpSignalMACD.SetDefaultColor(Color.UPTICK);
UpSignalMACD.SetPaintingStrategy(PaintingStrategy.ARROW_UP);

DownSignalMACD.SetDefaultColor(Color.DOWNTICK);
DownSignalMACD.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);


###### RSI
 
           
input lengthRSI = 7;
input over_BoughtRSI = 70;
input over_SoldRSI = 30;
input averageTypeRSI = AverageType.EXPONENTIAL;


def NetChgAvg = MovingAverage(averageTypeRSI, price - price[1], lengthRSI);
def TotChgAvg = MovingAverage(averageTypeRSI, AbsValue(price - price[1]), lengthRSI);
def ChgRatio = if TotChgAvg != 0 then NetChgAvg / TotChgAvg else 0;
def RSI = 50 * (ChgRatio + 1);


###### Stochastic Slow  


input over_boughtSt = 80;
input over_soldSt = 20;
input KPeriod = 5;#5
input DPeriod = 3;
input priceH = high;
input priceL = low;
input priceC = close;
input averageTypeStoch = AverageType.WILDERS;
input showBreakoutSignalsStoch = {default "No", "On SlowK", "On SlowD", "On SlowK & SlowD"};

def SlowK = reference StochasticFull(over_boughtSt, over_soldSt, KPeriod, DPeriod, priceH, priceL, priceC, 3, averageTypeStoch).FullK;
def SlowD = reference StochasticFull(over_boughtSt, over_soldSt, KPeriod, DPeriod, priceH, priceL, priceC, 3, averageTypeStoch).FullD;


######  Check for signals > 50 and macd Value > Avg


def rsiGreen = if RSI >= 50 then 1 else Double.NaN;
def rsiRed = if RSI < 50 then 1 else Double.NaN;
def stochGreen = if SlowK >= 50 then 1 else Double.NaN;
def stochRed = if SlowK < 50 then 1 else Double.NaN;
def macdGreen = if Value > Avg then 1 else Double.NaN;
def macdRed = if Value < Avg then 1 else Double.NaN;


###### Shade areas based on criteria; adjust as needed


AddCloud(if rsiGreen and stochGreen and macdGreen then Double.POSITIVE_INFINITY else Double.NaN, if rsiGreen and stochGreen then Double.NEGATIVE_INFINITY else Double.NaN, Color.LIGHT_Green);
AddCloud(if rsiRed and stochRed and macdRed then Double.POSITIVE_INFINITY else Double.NaN, if rsiRed and stochRed then Double.NEGATIVE_INFINITY else Double.NaN, Color.LIGHT_RED);


#################################################################
############  BALANCE OF POWER TREND ############################
#################################################################
# Assembled by BenTen at useThinkScript.com
# Converted from [URL]https://www.tradingview.com/script/XldP1lmA/[/URL]


input EMA = 20;
input TEMA = 20;
input high_l = 0.1;
input low_l = -0.1;

def THL = If(high != low, high - low, 0.01);
def BullOpen = (high - open) / THL;
def BearOpen = (open - low) / THL;
def BullClose = (close - low) / THL;
def BearClose = (high - close) / THL;
def BullOC = If(close > open, (close - open) / THL, 0);
def BearOC = If(open > close, (open - close) / THL, 0);
def BullReward = (BullOpen + BullClose + BullOC) / 1;
def BearReward = (BearOpen + BearClose + BearOC) / 1;

def BOP = BullReward - BearReward;
def SmoothBOP = ExpAverage(BOP, EMA);
def xPrice = SmoothBOP;
def xEMA1 = ExpAverage(SmoothBOP, TEMA);
def xEMA2 = ExpAverage(xEMA1, TEMA);
def xEMA3 = ExpAverage(xEMA2, TEMA);
def nRes = 3 * xEMA1 - 3 * xEMA2 + xEMA3;

def SmootherBOP = nRes;
def s1 = SmoothBOP;
def s2 = SmootherBOP;
def s3 = SmootherBOP[2];


####### Vertical Lines
def short = s2 < s3 and s2[1] > s3[1];
def long = s2 > s3 and s2[1] < s3[1];

AddVerticalLine(short, close, Color.RED, Curve.SHORT_DASH);
AddVerticalLine(long, close, Color.GREEN, Curve.SHORT_DASH);

######  P/L Statement
input PandL_Label = Yes;

def orderDir = CompoundValue(1, if  s2 < s3 then 1 else if s2 > s3 then -1 else orderDir[1], 0);
def isOrder = orderDir crosses 0;
def orderCount = CompoundValue(1, if IsNaN(isOrder) then 0 else if isOrder then orderCount[1] + 1 else orderCount[1], 0);
def noBar = IsNaN(open[-1]);
def orderPrice = if isOrder then if noBar then close else open[-1] else orderPrice[1];
def profitLoss = if !isOrder or orderCount == 1
then 0
else if orderDir < 0 then orderPrice[1] - orderPrice
else if orderDir > 0 then orderPrice - orderPrice[1] else 0;
#else if orderDir > 0 then orderPrice[1] - orderPrice
#else if orderDir < 0 then orderPrice - orderPrice[1] else 0;
#def profitLoss = if !isOrder or orderCount == 1 then 0 else orderPrice - orderPrice[1];
def profitLossSum = CompoundValue(1, if IsNaN(isOrder) then 0 else if isOrder then profitLossSum[1] + profitLoss else profitLossSum[1], 0);
def orderWinners = CompoundValue(1, if IsNaN(isOrder) then orderWinners[1] else if orderCount > 1 and profitLoss > 0 then orderWinners[1] + 1 else orderWinners[1], 0);

######  Add Label


AddLabel(PandL_Label, orderCount + " Orders (" + AsPercent(orderWinners / orderCount) + ") | P/L " + AsDollars((profitLossSum / TickSize()) * TickValue()), if profitLossSum > 0 then Color.GREEN else if profitLossSum < 0 then Color.RED else Color.GRAY);





#------ End Balanced BB Breakout Indicator

https://imgur.com/a/wMydU93

Hi Chuck, any chance for a scan for when one of the alerts or lines change color signaling sell or buy? Thanks

 

[Chuck]

Hi Chuck, any chance for a scan for when one of the alerts or lines change color signaling sell or buy? Thanks

@Joseph Patrick 18, Hopefully you downloaded the updated version. The original sript posted did not have my defaulted settings. Editied the latest post to reflect. I am not a good coder, I just mixed this all together from some of my favorite lower indicators to have a all in one. Edited out a few conflicts. Maybe someone here can create a scan. but this is still experimental, use with caution.

 

[Joseph Patrick 18]

@Joseph Patrick 18, Hopefully you downloaded the updated version. The original sript posted did not have my defaulted settings. Editied the latest post to reflect. I am not a good coder, I just mixed this all together from some of my favorite lower indicators to have a all in one. Edited out a few conflicts. Maybe someone here can create a scan. but this is still experimental, use with caution.

Thanks Chuck, I did and it looks awesome! Thanks!
Quick question on how to use the chart for entry and exit signals.

In the pic below would I enter at when the MACD dots turn from red to green and rises above the other MA's, while also getting the green vertical line @$168.70 with the beginning of the green shadow forming? (the 2 green arrows in pic below)

Also to exit (arrow number 2 in pic below) I would wait for the MACD dots to reverse and go from green to red while crossing below the MA's and the green shading ends?? (even tho the green shade ended at $178.70)??

https://imgur.com/K9V1UP1

Thanks for your help.
Joe

 

[Chuck]

Joe,
The first thing I do is backtest it on the instrument I want to trade. Using a one day chart with time intervals of 2m,3m,5m,10m,15m, etc. and check out the P/L to see what time frame is the most profitable, considering my risk and max drawdown.

Next I adjust the fast length macd, so that it matches my optimal entry/exit points on that timeframe.

After that to answer your question I watch the MACD line. Before the line turns grey it should turn dark red or dark green. Thats when I am alerted. I use that as my lead while using this indicator.

When the MACD line turns grey, that is an area of indecision and as soon as that line crosses the middle BB line, I look for secondary confirmation to confirm entry or exit, I do this on entries and exits.

I have all the arrows turned on on my version and I look for the arrows, or histogram, or colored cloud background, or balance of power line with price level for my entries also considering the other signals and price indications I am getting from the candles and other indicators in my final evaluation.

 

[Joseph Patrick 18]

Joe,
The first thing I do is backtest it on the instrument I want to trade. Using a one day chart with time intervals of 2m,3m,5m,10m,15m, etc. and check out the P/L to see what time frame is the most profitable, considering my risk and max drawdown.

Next I adjust the fast length macd, so that it matches my optimal entry/exit points on that timeframe.

After that to answer your question I watch the MACD line. Before the line turns grey it should turn dark red or dark green. Thats when I am alerted. I use that as my lead while using this indicator.

When the MACD line turns grey, that is an area of indecision and as soon as that line crosses the middle BB line, I look for secondary confirmation to confirm entry or exit, I do this on entries and exits.

I have all the arrows turned on on my version and I look for the arrows, or histogram, or colored cloud background, or balance of power line with price level for my entries also considering the other signals and price indications I am getting from the candles and other indicators in my final evaluation.

Awesome! Thank you Chuck for the explanation, appreciate it and I'll let you know how I do. Thanks

 

[Chuck]

Joe,

Some people may want to enter upon the bollinger band crossing that will be for earlier trade enties/exits. You will have to play with it and figure out what works best for you. I updated the link and the second post to add paint bars. I am not a coder and would not recommend trading live until all the kinks are worked out. I see several of the indicators on this forum were designed because of your requests. Perhaps you can reach out and get one of these guys to tweak this thing up a bit if you like it.

 

[JE $$]

Joe,
The first thing I do is backtest it on the instrument I want to trade. Using a one day chart with time intervals of 2m,3m,5m,10m,15m, etc. and check out the P/L to see what time frame is the most profitable, considering my risk and max drawdown.

Next I adjust the fast length macd, so that it matches my optimal entry/exit points on that timeframe.

After that to answer your question I watch the MACD line. Before the line turns grey it should turn dark red or dark green. Thats when I am alerted. I use that as my lead while using this indicator.

When the MACD line turns grey, that is an area of indecision and as soon as that line crosses the middle BB line, I look for secondary confirmation to confirm entry or exit, I do this on entries and exits.

I have all the arrows turned on on my version and I look for the arrows, or histogram, or colored cloud background, or balance of power line with price level for my entries also considering the other signals and price indications I am getting from the candles and other indicators in my final evaluation.

Hey Chuck, thanks for your explanation and for your work with this. Would you mind explaining further how you make the decision about what to adjust the MACD fast length to?
1)first you look at the P/L and how it differs based on changing the timeframe - so if 5m looks better than 3, you'd probably go with 5m
2)then you adjust the MACD fast line - this is the part i'm having difficulty with - what do you do to figure out how you should adjust it?

 

[Chuck]

Hey Chuck, thanks for your explanation and for your work with this. Would you mind explaining further how you make the decision about what to adjust the MACD fast length to?
1)first you look at the P/L and how it differs based on changing the timeframe - so if 5m looks better than 3, you'd probably go with 5m
2)then you adjust the MACD fast line - this is the part i'm having difficulty with - what do you do to figure out how you should adjust it?

@JE $$ ,

I like to have probability in my favor. that’s why I put that strategy on my lower indicators.

For each instrument that I trade I can run a P/L analysis.

Once that’s locked into the optimal time frame, I like to adjust other indicators or in this instance studies within the indicator for maximum performance.

I personally open the study and adjust the fast length macd.

I adjust the fast length MACD by while looking at the histogram while trying to optimize it to the perfect high/ low pivot points.
I like to send it to eight out of 10 occurrences.

That is just my personal preference

 

[JE $$]

@JE $$ ,

I like to have probability in my favor. that’s why I put that strategy on my lower indicators.

For each instrument that I trade I can run a P/L analysis.

Once that’s locked into the optimal time frame, I like to adjust other indicators or in this instance studies within the indicator for maximum performance.

I personally open the study and adjust the fast length macd.

I adjust the fast length MACD by while looking at the histogram while trying to optimize it to the perfect high/ low pivot points.
I like to send it to eight out of 10 occurrences.

That is just my personal preference

Chuck -thanks

 

[Joseph Patrick 18]

Joe,

Some people may want to enter upon the bollinger band crossing that will be for earlier trade enties/exits. You will have to play with it and figure out what works best for you. I updated the link and the second post to add paint bars. I am not a coder and would not recommend trading live until all the kinks are worked out. I see several of the indicators on this forum were designed because of your requests. Perhaps you can reach out and get one of these guys to tweak this thing up a bit if you like it.

Okay will do. Thanks Chuck for helping me out and I will try and reach out to try to get someone to help.

Joe

 

[Chuck]

Okay will do. Thanks Chuck for helping me out and I will try and reach out to try to get someone to help.

Joe

Hey, Joe
Have you had any success reaching out? Just curious.

 

[Joseph Patrick 18]

Hey, Joe
Have you had any success reaching out? Just curious.

Hey Chuck, I was waiting on Cos251 to get back to me on a different script and then I was going to ask him...I could maybe try reaching out to DiazLaz...There is no PM on here and to get in touch with Cos I had to contact Ben10 and set up a PM...I'll give it till the weekend and if I don't hear back I'll reach out to Ben10 and see if he could PM Diazlaz or suggest someone for you. SuryaKiran is another coder that helped out on the RSM study. I didn't forget about you...I'll keep you posted...