Confirmation Candles Indicator For ThinkorSwim

[Christopher84]

Colored Candles On set to NO turns all candles to yellow. Is this correct behavior?

Just posted V.6 with the yellow candles issue fixed. Hope this helps!

 

[jay2]

imo this triggers way too many reversal alerts.. although you can disable the plots but i think you should keep it more simple.

 

[rfb]

Just posted V.6 with the yellow candles issue fixed. Hope this helps!

Thanks for the efforts in making this a better study! Can you find a way where it will work on SPX ? Much appreciated!!

 

[Christopher84]

imo this triggers way too many reversal alerts.. although you can disable the plots but i think you should keep it more simple.

I completely agree. In its current form, it’s more like “look to buy” or “look to sell” not just a straightforward reversal. I’m still working on refining the signals. I’ll take another crack at it over the weekend.

 

[Jonas99]

Hi rfb! The candles will still paint correctly for SPX, however, the signals and lower study will not show unfortunately. Thank you for trying it out and for your feedback!

@chrisopher84 thanks for all your hard work and generosity. As a convention, where do we find the latest? I couldn't find the v6 that you referred.

 

[Christopher84]

@chrisopher84 thanks for all your hard work and generosity. As a convention, where do we find the latest? I couldn't find the v6 that you referred.

Hi Jonas99! V.6 is at the bottom of page 2 in this thread. Let me know if you are still unable to find it. Happy to help however I can.

 

[rfb]

Hi Jonas99! V.6 is at the bottom of page 2 in this thread. Let me know if you are still unable to find it. Happy to help however I can.

Thanks again for all your efforts. Just curious, do you know if V.6 will have the capability to work with SPX? If not, do you know why your study won't work with SPX? Thx!

 

[asragov]

Hi - the indicator is much appreciated - just curious if anyone has been able to get this work with a scan - I get the error "the complexity of the expression suggests that it may not be reliable with real-time data" when trying to scan, for example, for UpConfirmSignal is true - thanks very much

 

[iSul]

First of all thank you so much for this great work . FRIDAY I noticed ( apple and x )'s moving up , so I returned to their chart using ur study , I found it great with upper study but the lower is different . so which one I go with ? or for the best result go with upper and Lower as AAPL chart .

and again thank you so much .

 

[barbaros]

@Christopher84 great job with this indicator. May I suggest to update your first post with the latest of upper and lower scripts to minimize confusion?

 

[Christopher84]

First of all thank you so much for this great work . FRIDAY I noticed ( apple and x )'s moving up , so I returned to their chart using ur study , I found it great with upper study but the lower is different . so which one I go with ? or for the best result go with upper and Lower as AAPL chart .

and again thank you so much .

It looks like the confirmation level shot up very quickly making it generate the up arrow for entry (crossed your confirmation level 7) while almost simultaneously going into an OB condition. This can definitely happen when the market makes a strong move. Just because the agreement line is OB doesn't necessarily mean its time to sell. I generally look for flat sections in the lower indicator that fall in the OB or OS levels to help anticipate the shift to the opposite direction or an exit of the line out of OB or OS. I hope this helps. Please let me know it I missed anything.

 

[nitrous]

It looks like the confirmation level shot up very quickly making it generate the up arrow for entry (crossed your confirmation level 7) while almost simultaneously going into an OB condition. This can definitely happen when the market makes a strong move. Just because the agreement line is OB doesn't necessarily mean its time to sell. I generally look for flat sections in the lower indicator that fall in the OB or OS levels to help anticipate the shift to the opposite direction or an exit of the line out of OB or OS. I hope this helps. Please let me know it I missed anything.

Can you please show an example what you mean by "flat sections in the lower study".

Thanks

 

[Trader Raider]

Can you please show an example what you mean by "flat sections in the lower study".

Thanks

@nitrous, far be it from me to answer for @Christopher84. I've been looking for that "flat" bit too. Here's what I found. On Friday, about 3:30pm, the indicator flattened (and the line turned gray) before the dump on the MES, MNQ, and MYM. And this evening, there was a bit of a gap up and there was flattening again on the MES and MNQ. Hopefully the yellow circles show what I'm referring to.

If you pull up a chart where price made a big move, I think you'll see where the indicator goes flat, the line turns gray, and a brownish cloud forms.

@Christopher84, please correct me if my interpretation on this is incorrect!

https://imgur.com/a/ACliua5

 

[Christopher84]

@nitrous, far be it from me to answer for @Christopher84. I've been looking for that "flat" bit too. Here's what I found. On Friday, about 3:30pm, the indicator flattened (and the line turned gray) before the dump on the MES, MNQ, and MYM. And this evening, there was a bit of a gap up and there was flattening again on the MES and MNQ. Hopefully the yellow circles show what I'm referring to.

If you pull up a chart where price made a big move, I think you'll see where the indicator goes flat, the line turns gray, and a brownish cloud forms.

@Christopher84, please correct me if my interpretation on this is incorrect!

https://imgur.com/a/ACliua5

Perfect example Trader Raider! When grouped with the Super OB/OS (which also generates flat sections as well) it becomes even more potent as a reversal indication. The current version for the reversal signals is signaling when the line goes flat in OB/OS.

 

[Christopher84]

Hi Christopher. Happened to come across this study and found it very interesting. Can you confirm if this will work on the SPX index? I wasn't able to see any indications using SPX. Thank you for your efforts and what looks to be a great tool for the toolbox!

Hi rfb! I took some time today and modified the Confirmation Candles and Confirmation Lower to allow them to work on the SPX for you. I had to omit 2 of the studies, but it still functions well. Sorry for the delay.

#Confirmation Candles SPX
#Created 04/15/2021 by Christopher84
#Select the level of agreement among the 13 indicators included.
#Changed 04/19/2021 to V.3 - Removed ChaikinOsc and replaced with STARCBands. Added squeeze alert.
#Changed 04/20/2021 to V.4 - Added Keltner Channel, Labels, and Buy and Sell Zones. Mean Reversion and Breakout Labels added. Reversal_Alert points added.
#Changed 4/22/2021 to V.5 - Removed Buy/Sell clouds. Created new reversal alert buy(gray points) and take profit (red points). Increase factorK.
#Changed 4/23/2021 to V.6 - Refined reversal signals. Fully integrated Super_OB_OS indicator. Fixed candles going yellow if colored_candles is off.
#Changed 4/26/2021 to V.7 - Refined reversal signals and included Keltner Bandwidth. Adjusted Keltner Channel levels.
#Changed 4/26/2021 to SPX - # MFI and Klinger Histogram.
#Keltner Channel
declare upper;
def displace = 0;
input factorK = 2.0;
input lengthK = 20;
input price = close;
input averageType = AverageType.SIMPLE;
input trueRangeAverageType = AverageType.SIMPLE;
input BulgeLengthK = 150;
input SqueezeLengthK = 150;

def shift = factorK * MovingAverage(trueRangeAverageType, TrueRange(high, close, low), lengthK);
def averageK = MovingAverage(averageType, price, lengthK);
def AvgK = averageK[-displace];
def Upper_BandK = averageK[-displace] + shift[-displace];
def Lower_BandK = averageK[-displace] - shift[-displace];

def conditionK1 = price >= Upper_BandK;
def conditionK2 = (Upper_BandK[1] < Upper_BandK) and (Lower_BandK[1] < Lower_BandK);
def conditionK2L = (Upper_BandK[2] < Upper_BandK[1]) and (Lower_BandK[2] < Lower_BandK[1]);
def conditionK3L = (Upper_BandK[3] < Upper_BandK[2]) and (Lower_BandK[3] < Lower_BandK[2]);
def conditionK3 = (Upper_BandK[1] > Upper_BandK) and (Lower_BandK[1] > Lower_BandK);
def BandwidthK = (Upper_BandK - Lower_BandK) / AvgK * 100;
def condition_BWKUP = BandwidthK[1] < BandwidthK;
def condition_BWKDOWN = BandwidthK[1] > BandwidthK;
def BulgeK = Highest(BandwidthK, BulgeLengthK);
def SqueezeK = Lowest(BandwidthK, SqueezeLengthK);
def BulgeK2 = Highest(BandwidthK, BulgeLengthK);
def SqueezeK2 = Lowest(BandwidthK, SqueezeLengthK);

#MACD with Price
def fastLength = 12;
def slowLength = 26;
def MACDLength = 9;
input MACD_AverageType = {SMA, default EMA};
def MACDLevel = 0.0;

def fastEMA = ExpAverage(price, fastLength);
def slowEMA = ExpAverage(price, slowLength);
def Value;
def Avg;
switch (MACD_AverageType) {
case SMA:
    Value = Average(price, fastLength) - Average(price, slowLength);
    Avg = Average(Value, MACDLength);
case EMA:
    Value = fastEMA - slowEMA;
    Avg = ExpAverage(Value, MACDLength);
}
def Diff = Value - Avg;
def Level = MACDLevel;

def condition1 = Value[1] <= Value;

#RSI
def RSI_length = 14;
def RSI_AverageType = AverageType.WILDERS;
def RSI_OB = 70;
def RSI_OS = 30;

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

def condition2 = (RSI[3] < RSI) is true or (RSI >= 80) is true;
def conditionOB1 = RSI > RSI_OB;
def conditionOS1 = RSI < RSI_OS;


#MFI
#def MFI_Length = 14;
#def MFIover_Sold = 20;
#def MFIover_Bought = 80;
#def movingAvgLength = 1;
#def MoneyFlowIndex = Average(MoneyFlow(high, close, low, volume, MFI_Length), movingAvgLength);
#def MFIOverBought = MFIover_Bought;
#def MFIOverSold = MFIover_Sold;

#def condition3 = (MoneyFlowIndex[2] < MoneyFlowIndex) is true or (MoneyFlowIndex > 85) is true;
#def conditionOB2 = MoneyFlowIndex > MFIover_Bought;
#def conditionOS2 = MoneyFlowIndex < MFIover_Sold;

#Forecast
def na = Double.NaN;
def MidLine = 50;
def Momentum = MarketForecast().Momentum;
def NearT =  MarketForecast().NearTerm;
def Intermed = MarketForecast().Intermediate;
def FOB = 80;
def FOS = 20;
def upperLine = 110;

def condition4 = (Intermed[1] <= Intermed) and (NearT >= MidLine);
def conditionOB3 = Intermed > FOB;
def conditionOS3 = Intermed < FOS;
def conditionOB4 = NearT > FOB;
def conditionOS4 = NearT < FOS;


#Pivot Signals
def n = 20;
def ticks = 2.0;
def bnOK = BarNumber() > n;
def isHigher = fold i = 1 to n + 1 with p = 1 while p do high > GetValue(high, -i);
def HH = if bnOK and isHigher and high == Highest(high, n) then high else Double.NaN;
def isLower = fold j = 1 to n + 1 with q = 1 while q do low < GetValue(low, -j);
def LL = if bnOK and isLower and low == Lowest(low, n) then low else Double.NaN;
def PivH = if HH > 0 then HH else Double.NaN;
def PivL = if LL > 0 then LL else Double.NaN;

def UpPivotLow = !IsNaN(PivL);
#UpPivotLow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
#UpPivotLow.SetLineWeight(4);
#UpPivotLow.SetDefaultColor(Color.GREEN);

def DownPivotHigh = !IsNaN(PivH);
#DownPivotHigh.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
#DownPivotHigh.SetLineWeight(4);
#DownPivotHigh.SetDefaultColor(Color.RED);

def condition5 = !IsNaN(PivL);

#EMA_1
def EMA_length = 12;
def AvgExp = ExpAverage(price[-displace], EMA_length);

def condition6 = (price >= AvgExp) and (AvgExp[2] <= AvgExp);

#EMA_2
def EMA_2length = 20;
def displace2 = 0;
def AvgExp2 = ExpAverage(price[-displace2], EMA_2length);

def condition7 = (price >= AvgExp2) and (AvgExp[2] <= AvgExp);

#DMI Oscillator
def DMI_length = 5;#Typically set to 10
input DMI_averageType = AverageType.WILDERS;
def diPlus = DMI(DMI_length, DMI_averageType)."DI+";
def diMinus = DMI(DMI_length, DMI_averageType)."DI-";
def Osc = diPlus - diMinus;
def Hist = Osc;
def ZeroLine = 0;

def condition8 = Osc >= ZeroLine;

#Trend_Periods
def TP_fastLength = 3;#Typically 7
def TP_slowLength = 4;#Typically 15
def Periods = Sign(ExpAverage(close, TP_fastLength) - ExpAverage(close, TP_slowLength));

def condition9 = Periods > 0;

#Polarized Fractal Efficiency
def PFE_length = 5;#Typically 10
def smoothingLength = 2.5;#Typically 5
def PFE_diff = close - close[PFE_length - 1];
def val = 100 * Sqrt(Sqr(PFE_diff) + Sqr(PFE_length)) / Sum(Sqrt(1 + Sqr(close - close[1])), PFE_length - 1);
def PFE = ExpAverage(if PFE_diff > 0 then val else -val, smoothingLength);
def UpperLevel = 50;
def LowerLevel = -50;

def condition10 = PFE > 0;
def conditionOB5 = PFE > UpperLevel;
def conditionOS5 = PFE < LowerLevel;


#Bollinger Bands PercentB
input BBPB_averageType = AverageType.SIMPLE;
def BBPB_length = 5;#Typically 20
def Num_Dev_Dn = -2.0;
def Num_Dev_up = 2.0;
def BBPB_OB = 100;
def BBPB_OS = 0;
def upperBand = BollingerBands(price, displace, BBPB_length, Num_Dev_Dn, Num_Dev_up, BBPB_averageType).UpperBand;
def lowerBand = BollingerBands(price, displace, BBPB_length, Num_Dev_Dn, Num_Dev_up, BBPB_averageType).LowerBand;
def PercentB = (price - lowerBand) / (upperBand - lowerBand) * 100;
def HalfLine = 50;
def UnitLine = 100;

def condition11 = PercentB > HalfLine;
def conditionOB6 = PercentB > BBPB_OB;
def conditionOS6 = PercentB < BBPB_OS;


#STARC Bands
def ATR_length = 15;
def SMA_lengthS = 6;
def multiplier_factor = 1.5;
def valS = Average(price, SMA_lengthS);
def average_true_range = Average(TrueRange(high, close, low), length = ATR_length);
def Upper_BandS = valS[-displace] + multiplier_factor * average_true_range[-displace];
def Middle_BandS = valS[-displace];
def Lower_BandS = valS[-displace] - multiplier_factor * average_true_range[-displace];

def condition12 = (Upper_BandS[1] <= Upper_BandS) and (Lower_BandS[1] <= Lower_BandS);

#Klinger Histogram
#def Klinger_Length = 8;
#def KVOsc = KlingerOscillator(Klinger_Length).KVOsc;
#def KVOH = KVOsc - Average(KVOsc, Klinger_Length);
#def condition13 = (KVOH > 0) and (KVOsc[1] <= KVOsc);

#Projection Oscillator
def ProjectionOsc_length = 9;#Typically 10
def MaxBound = HighestWeighted(high, ProjectionOsc_length, LinearRegressionSlope(price = high, length = ProjectionOsc_length));
def MinBound = LowestWeighted(low, ProjectionOsc_length, LinearRegressionSlope(price = low, length = ProjectionOsc_length));
def ProjectionOsc_diff = MaxBound - MinBound;
def PROSC = if ProjectionOsc_diff != 0 then 100 * (close - MinBound) / ProjectionOsc_diff else 0;
def PROSC_OB = 80;
def PROSC_OS = 20;

def condition14 = PROSC > 50;
def conditionOB7 = PROSC > PROSC_OB;
def conditionOS7 = PROSC < PROSC_OS;


#Trend Confirmation Calculator
#Confirmation_Factor range 1-15.
input coloredCandlesOn = yes;
input Confirmation_Factor = 3;
#Use for testing conditions individually. Remove # from line below and change Confirmation_Factor to 1.
#def Agreement_Level = condition1;
def Agreement_LevelOB = 12;
def Agreement_LevelOS = 3;

def Agreement_Level = condition1 + condition2 + condition4 + condition5 + condition6 + condition7 + condition8 + condition9 + condition10 + condition11 + condition12 + condition14 + conditionK1 + conditionK2;

def conditionChannel1 = Upper_BandK > price;
def conditionChannel2 = Lower_BandK < price;

def UP = Agreement_Level >= Confirmation_Factor;
def DOWN = Agreement_Level <= Confirmation_Factor;

AssignPriceColor(if coloredCandlesOn and UP then Color.LIGHT_GREEN else if coloredCandlesOn and DOWN then Color.RED else Color.CURRENT);

#Additional Signals

#Super_OB/OS Signal
def OB_Level = conditionOB1 + conditionOB3 + conditionOB4 + conditionOB5 + conditionOB6 + conditionOB7;
def OS_Level = conditionOS1  + conditionOS3 + conditionOS4 + conditionOS5 + conditionOS6 + conditionOS7;

def Concensus_Line = OB_Level - OS_Level;
def Zero_Line = 0;
def Super_OB = 4;
def Super_OS = -2;

def DOWN_OB = (Agreement_Level > Agreement_LevelOB) and (Concensus_Line > Super_OB);
def UP_OS = (Agreement_Level < Agreement_LevelOS) and (Concensus_Line < Super_OS);

def OS_Buy = UP_OS;
def OB_Sell = DOWN_OB;
def neutral = Concensus_Line < Super_OB and Concensus_Line > Super_OS;

#AddVerticalLine (OS_Buy and !OS_Buy[1], close, Color.GREEN, Curve.SHORT_DASH);
#AddVerticalLine (Neutral and !neutral[1], close, Color.Gray, Curve.SHORT_DASH);
#AddVerticalLine (OB_Sell and OB_Sell and !OB_Sell[1], close, Color.RED, Curve.SHORT_DASH);

def Buy_Opportnity = if OS_Buy then Double.POSITIVE_INFINITY else Double.NEGATIVE_INFINITY;
#AddCloud(Buy_Opportnity, Neutral, Color.LIGHT_GREEN, Color.LIGHT_RED);
def Sell_Opportnity = if OB_Sell then Double.POSITIVE_INFINITY else Double.NEGATIVE_INFINITY;
#AddCloud(Sell_Opportnity, Neutral, Color.LIGHT_RED, Color.LIGHT_RED);

def OB_Signal = price crosses below Upper_BandK;
#OB_Signal.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
#OB_Signal.SetLineWeight(1);
#OB_Signal.SetDefaultColor(Color.RED);

def OS_Signal = price crosses above Lower_BandK;
#OS_Signal.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
#OS_Signal.SetLineWeight(1);
#OS_Signal.SetDefaultColor(Color.GREEN);

#Squeeze Alert
def length = 20;
def BulgeLength = 150;
def SqueezeLength = 150;
def upperBandBB = BollingerBands(price, displace, length, Num_Dev_Dn, Num_Dev_up, averageType).UpperBand;
def lowerBandBB = BollingerBands(price, displace, length, Num_Dev_Dn, Num_Dev_up, averageType).LowerBand;
def midLineBB = BollingerBands(price, displace, length, Num_Dev_Dn, Num_Dev_up, averageType).MidLine;
def Bandwidth = (upperBandBB - lowerBandBB) / midLineBB * 100;
def Bulge = Highest(Bandwidth, BulgeLength);
def Squeeze = Lowest(Bandwidth, SqueezeLength);

plot Squeeze_Alert = Bandwidth <= Squeeze;
Squeeze_Alert.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
Squeeze_Alert.SetLineWeight(3);
Squeeze_Alert.SetDefaultColor(Color.YELLOW);

#Trend Signals
#Bollinger_Bands2
input lengthBB = 10;
input Num_Dev_DnBB = -0.8;
input Num_Dev_upBB = 0.8;

def price1 = open;
def sDev = StDev(data = price[-displace], length = lengthBB);
def MidLineBB2 = MovingAverage(averageType, data = price[-displace], length = lengthBB);
def LowerBandBB2 = MidLineBB2 + Num_Dev_DnBB * sDev;
def UpperBandBB2 = MidLineBB2 + Num_Dev_upBB * sDev;


def condition_Slope_RevUP = ((Agreement_Level[1] < Agreement_Level) or (Agreement_Level[2] >= Agreement_Level[1])) or ((Concensus_Line[1] < Concensus_Line) and (Concensus_Line[2] >= Concensus_Line[1]));
def condition_Slope_RevDOWN = ((Agreement_Level[1] > Agreement_Level) and (Agreement_Level[2] <= Agreement_Level[1])) or ((Concensus_Line[1] > Concensus_Line) and (Concensus_Line[2] <= Concensus_Line[1]));
def condition_Flat = (Agreement_Level[2] == Agreement_Level[1]) or (Concensus_Line[2] == Concensus_Line[1]);
def condition_Flat2 = ((Agreement_Level[1] == Agreement_Level) and (Concensus_Line[1] == Concensus_Line));
def condition_Flat3 = ((Agreement_Level[1] == Agreement_Level) or (Concensus_Line[1] == Concensus_Line));
def condition_OB = ((Agreement_Level >= 12) or (Concensus_Line >= 2) and (price > Upper_BandK));
def condition_OS = ((Agreement_Level <= 2) or (Concensus_Line <= -2));# and (price < lower_BandK)

plot UPConfirmSignal = Agreement_Level crosses above Confirmation_Factor;
UPConfirmSignal.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
UPConfirmSignal.SetLineWeight(1);
UPConfirmSignal.SetDefaultColor(Color.GREEN);

plot DOWNConfirmSignal = Agreement_Level crosses below Confirmation_Factor;
DOWNConfirmSignal.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
DOWNConfirmSignal.SetLineWeight(1);
DOWNConfirmSignal.SetDefaultColor(Color.RED);

plot Reversal_Sell_1 = ((Agreement_Level crosses below 10) and (Concensus_Line crosses below Super_OB) and (price > Middle_BandS));
Reversal_Sell_1.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
Reversal_Sell_1.SetLineWeight(3);
Reversal_Sell_1.SetDefaultColor(Color.RED);

plot Reversal_Buy_1 = ((Agreement_Level < 2) and Concensus_Line < 0) and conditionK2 and conditionK2L and conditionK3L and (price < LowerBandBB2) and condition_BWKUP;
Reversal_Buy_1.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
Reversal_Buy_1.SetLineWeight(3);
Reversal_Buy_1.SetDefaultColor(Color.GREEN);

plot Reversal_Buy2 = ((Agreement_Level < 2) and Concensus_Line < 0) and condition_Slope_RevUP and conditionK2 and condition_BWKDOWN;
Reversal_Buy2.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
Reversal_Buy2.SetLineWeight(3);
Reversal_Buy2.SetDefaultColor(Color.GREEN);

plot Reversal_Sell_2 = (Concensus_Line[1] == Concensus_Line) and (Concensus_Line > 0) and (Agreement_Level[2] > Agreement_Level) and condition_BWKUP and (price < Upper_BandK) and (price[1] < price);
Reversal_Sell_2.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
Reversal_Sell_2.SetLineWeight(3);
Reversal_Sell_2.SetDefaultColor(Color.RED);

plot Reversal_Buy_3 = Agreement_Level < 1 and (price1 < Lower_BandK) and (condition_BWKUP);
Reversal_Buy_3.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
Reversal_Buy_3.SetLineWeight(3);
Reversal_Buy_3.SetDefaultColor(Color.GREEN);

plot Reversal_Sell_3 = Agreement_Level > 13 and (price < upperBandBB) and (price > Upper_BandK) and (condition_BWKUP) and (price[1] > price);
Reversal_Sell_3.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
Reversal_Sell_3.SetLineWeight(3);
Reversal_Sell_3.SetDefaultColor(Color.RED);

plot Reversal_MeanReversion = conditionK3 and (price > UpperBandBB2);
Reversal_MeanReversion.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
Reversal_MeanReversion.SetLineWeight(3);
Reversal_MeanReversion.SetDefaultColor(Color.RED);

def condition_Reversal_CA_Buy = (Agreement_Level < 1) and (Agreement_Level[1] <= Agreement_Level);
def condition_Reversal_SOS_Buy = (Concensus_Line < -2) and (Concensus_Line[1] <= Concensus_Line);
#plot Reversal_Buy = (condition_Reversal_CA_Buy) or (condition_Reversal_SOS_Buy);
#Reversal_Buy.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
#Reversal_Buy.SetLineWeight(1);
#Reversal_Buy.SetDefaultColor(Color.LIGHT_GRAY);

#Labels
def Buy = UP_OS;
def Sell = DOWN_OB;
AddLabel(yes, "Look_To_Buy", if Buy then Color.GREEN else Color.GRAY);
AddLabel(yes, "Look_To_Sell", if Sell then Color.RED else Color.GRAY);

def MomentumUP = Agreement_Level[1] < Agreement_Level;
def MomentumDOWN = Agreement_Level[1] > Agreement_Level;
AddLabel(yes, "Increasing Momentum", if MomentumUP then Color.GREEN else Color.GRAY);
AddLabel(yes, "Decreasing Momentum", if MomentumDOWN then Color.RED else Color.GRAY);

def conditionMR = (Upper_BandK[1] > Upper_BandK) and (Lower_BandK[1] > Lower_BandK);
AddLabel(yes, "MEAN REVERSION", if conditionMR then Color.RED else Color.GRAY);

def conditionBO = ((Upper_BandS[1] < Upper_BandS) and (Lower_BandS[1] < Lower_BandS)) and ((Upper_BandK[1] < Upper_BandK) and (Lower_BandK[1] < Lower_BandK));
AddLabel(yes, "BREAKOUT", if conditionBO then Color.GREEN else Color.GRAY);

def conditionBD = ((Upper_BandS[1] > Upper_BandS) and (Lower_BandS[1] > Lower_BandS) and (Upper_BandK[1] > Upper_BandK) and (Lower_BandK[1] > Lower_BandK));
AddLabel(yes, "BREAKDOWN", if conditionBD then Color.RED else Color.GRAY);

def Squeeze_Signal = Squeeze_Alert;
AddLabel(yes, "SQUEEZE ALERT", if Squeeze_Signal then Color.YELLOW else Color.GRAY);

 

[Christopher84]

Here's the accompanying lower study.

#Confirmation Candles Lower SPX
#Created 04/15/2021 by Christopher84
#Select the level of agreement among the 12 indicators included.
#Changed 04/19/2021 to V.3 - Removed ChaikinOsc and replaced with STARCBands. Added squeeze alert.
#Changed 04/20/2021 to V.4 - Added Keltner Channel, Labels, and Buy and Sell Zones. Mean Reversion and Breakout Labels added. Reversal_Alert points added.
#Changed 4/22/2021 to V.5 - Removed Buy/Sell clouds. Created new reversal alert buy(gray points) and take profit (red points). Increase factorK.
#Changed 4/23/2021 to V.6 - Refined reversal signals. Fully integrated Super_OB_OS indicator. Fixed candles going yellow if colored_candles is off.
#Changed 4/26/2021 to V.7 - Refined reversal signals and included Keltner Bandwidth. Adjusted Keltner Channel levels.
#Changed 4/26/2021 to SPX - # MFI and Klinger Histogram.

#Keltner Channel
declare lower;
def displace = 0;
input factorK = 2.0;
input lengthK = 20;
input price = close;
input averageType = AverageType.SIMPLE;
input trueRangeAverageType = AverageType.SIMPLE;
input BulgeLengthK = 150;
input SqueezeLengthK = 150;

def shift = factorK * MovingAverage(trueRangeAverageType, TrueRange(high, close, low), lengthK);
def averageK = MovingAverage(averageType, price, lengthK);
def AvgK = averageK[-displace];
def Upper_BandK = averageK[-displace] + shift[-displace];
def Lower_BandK = averageK[-displace] - shift[-displace];

def conditionK1 = price >= Upper_BandK;
def conditionK2 = (Upper_BandK[1] < Upper_BandK) and (Lower_BandK[1] < Lower_BandK);
def conditionK2L = (Upper_BandK[2] < Upper_BandK[1]) and (Lower_BandK[2] < Lower_BandK[1]);
def conditionK3L = (Upper_BandK[3] < Upper_BandK[2]) and (Lower_BandK[3] < Lower_BandK[2]);
def conditionK3 = (Upper_BandK[1] > Upper_BandK) and (Lower_BandK[1] > Lower_BandK);
def BandwidthK = (Upper_BandK - Lower_BandK) / AvgK * 100;
def condition_BWKUP = BandwidthK[1] < BandwidthK;
def condition_BWKDOWN = BandwidthK[1] > BandwidthK;
def BulgeK = Highest(BandwidthK, BulgeLengthK);
def SqueezeK = Lowest(BandwidthK, SqueezeLengthK);
def BulgeK2 = Highest(BandwidthK, BulgeLengthK);
def SqueezeK2 = Lowest(BandwidthK, SqueezeLengthK);

#MACD with Price
def fastLength = 12;
def slowLength = 26;
def MACDLength = 9;
input MACD_AverageType = {SMA, default EMA};
def MACDLevel = 0.0;

def fastEMA = ExpAverage(price, fastLength);
def slowEMA = ExpAverage(price, slowLength);
def Value;
def Avg;
switch (MACD_AverageType) {
case SMA:
Value = Average(price, fastLength) - Average(price, slowLength);
Avg = Average(Value, MACDLength);
case EMA:
Value = fastEMA - slowEMA;
Avg = ExpAverage(Value, MACDLength);
}
def Diff = Value - Avg;
def Level = MACDLevel;

def condition1 = Value[1] <= Value;

#RSI
def RSI_length = 14;
def RSI_AverageType = AverageType.WILDERS;
def RSI_OB = 70;
def RSI_OS = 30;

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

def condition2 = (RSI[3] < RSI) is true or (RSI >= 80) is true;
def conditionOB1 = RSI > RSI_OB;
def conditionOS1 = RSI < RSI_OS;


#MFI
#def MFI_Length = 14;
#def MFIover_Sold = 20;
#def MFIover_Bought = 80;
#def movingAvgLength = 1;
#def MoneyFlowIndex = Average(MoneyFlow(high, close, low, volume, MFI_Length), movingAvgLength);
#def MFIOverBought = MFIover_Bought;
#def MFIOverSold = MFIover_Sold;

#def condition3 = (MoneyFlowIndex[2] < MoneyFlowIndex) is true or (MoneyFlowIndex > 85) is true;
#def conditionOB2 = MoneyFlowIndex > MFIover_Bought;
#def conditionOS2 = MoneyFlowIndex < MFIover_Sold;

#Forecast
def na = Double.NaN;
def MidLine = 50;
def Momentum = MarketForecast().Momentum;
def NearT = MarketForecast().NearTerm;
def Intermed = MarketForecast().Intermediate;
def FOB = 80;
def FOS = 20;
def upperLine = 110;

def condition4 = (Intermed[1] <= Intermed) and (NearT >= MidLine);
def conditionOB3 = Intermed > FOB;
def conditionOS3 = Intermed < FOS;
def conditionOB4 = NearT > FOB;
def conditionOS4 = NearT < FOS;


#Pivot Signals
def n = 20;
def ticks = 2.0;
def bnOK = BarNumber() > n;
def isHigher = fold i = 1 to n + 1 with p = 1 while p do high > GetValue(high, -i);
def HH = if bnOK and isHigher and high == Highest(high, n) then high else Double.NaN;
def isLower = fold j = 1 to n + 1 with q = 1 while q do low < GetValue(low, -j);
def LL = if bnOK and isLower and low == Lowest(low, n) then low else Double.NaN;
def PivH = if HH > 0 then HH else Double.NaN;
def PivL = if LL > 0 then LL else Double.NaN;

def UpPivotLow = !IsNaN(PivL);
#UpPivotLow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
#UpPivotLow.SetLineWeight(4);
#UpPivotLow.SetDefaultColor(Color.GREEN);

def DownPivotHigh = !IsNaN(PivH);
#DownPivotHigh.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
#DownPivotHigh.SetLineWeight(4);
#DownPivotHigh.SetDefaultColor(Color.RED);

def condition5 = !IsNaN(PivL);

#EMA_1
def EMA_length = 12;
def AvgExp = ExpAverage(price[-displace], EMA_length);

def condition6 = (price >= AvgExp) and (AvgExp[2] <= AvgExp);

#EMA_2
def EMA_2length = 20;
def displace2 = 0;
def AvgExp2 = ExpAverage(price[-displace2], EMA_2length);

def condition7 = (price >= AvgExp2) and (AvgExp[2] <= AvgExp);

#DMI Oscillator
def DMI_length = 5;#Typically set to 10
input DMI_averageType = AverageType.WILDERS;
def diPlus = DMI(DMI_length, DMI_averageType)."DI+";
def diMinus = DMI(DMI_length, DMI_averageType)."DI-";
def Osc = diPlus - diMinus;
def Hist = Osc;
def ZeroLine = 0;

def condition8 = Osc >= ZeroLine;

#Trend_Periods
def TP_fastLength = 3;#Typically 7
def TP_slowLength = 4;#Typically 15
def Periods = Sign(ExpAverage(close, TP_fastLength) - ExpAverage(close, TP_slowLength));

def condition9 = Periods > 0;

#Polarized Fractal Efficiency
def PFE_length = 5;#Typically 10
def smoothingLength = 2.5;#Typically 5
def PFE_diff = close - close[PFE_length - 1];
def val = 100 * Sqrt(Sqr(PFE_diff) + Sqr(PFE_length)) / Sum(Sqrt(1 + Sqr(close - close[1])), PFE_length - 1);
def PFE = ExpAverage(if PFE_diff > 0 then val else -val, smoothingLength);
def UpperLevel = 50;
def LowerLevel = -50;

def condition10 = PFE > 0;
def conditionOB5 = PFE > UpperLevel;
def conditionOS5 = PFE < LowerLevel;


#Bollinger Bands PercentB
input BBPB_averageType = AverageType.SIMPLE;
def BBPB_length = 5;#Typically 20
def Num_Dev_Dn = -2.0;
def Num_Dev_up = 2.0;
def BBPB_OB = 100;
def BBPB_OS = 0;
def upperBand = BollingerBands(price, displace, BBPB_length, Num_Dev_Dn, Num_Dev_up, BBPB_averageType).UpperBand;
def lowerBand = BollingerBands(price, displace, BBPB_length, Num_Dev_Dn, Num_Dev_up, BBPB_averageType).LowerBand;
def PercentB = (price - lowerBand) / (upperBand - lowerBand) * 100;
def HalfLine = 50;
def UnitLine = 100;

def condition11 = PercentB > HalfLine;
def conditionOB6 = PercentB > BBPB_OB;
def conditionOS6 = PercentB < BBPB_OS;


#STARC Bands
def ATR_length = 15;
def SMA_lengthS = 6;
def multiplier_factor = 1.5;
def valS = Average(price, SMA_lengthS);
def average_true_range = Average(TrueRange(high, close, low), length = ATR_length);
def Upper_BandS = valS[-displace] + multiplier_factor * average_true_range[-displace];
def Middle_BandS = valS[-displace];
def Lower_BandS = valS[-displace] - multiplier_factor * average_true_range[-displace];

def condition12 = (Upper_BandS[1] <= Upper_BandS) and (Lower_BandS[1] <= Lower_BandS);

#Klinger Histogram
#def Klinger_Length = 8;
#def KVOsc = KlingerOscillator(Klinger_Length).KVOsc;
#def KVOH = KVOsc - Average(KVOsc, Klinger_Length);
#def condition13 = (KVOH > 0) and (KVOsc[1] <= KVOsc);

#Projection Oscillator
def ProjectionOsc_length = 9;#Typically 10
def MaxBound = HighestWeighted(high, ProjectionOsc_length, LinearRegressionSlope(price = high, length = ProjectionOsc_length));
def MinBound = LowestWeighted(low, ProjectionOsc_length, LinearRegressionSlope(price = low, length = ProjectionOsc_length));
def ProjectionOsc_diff = MaxBound - MinBound;
def PROSC = if ProjectionOsc_diff != 0 then 100 * (close - MinBound) / ProjectionOsc_diff else 0;
def PROSC_OB = 80;
def PROSC_OS = 20;

def condition14 = PROSC > 50;
def conditionOB7 = PROSC > PROSC_OB;
def conditionOS7 = PROSC < PROSC_OS;


#Trend Confirmation Calculator
#Confirmation_Factor range 1-15.

input Confirmation_Factor = 3;
#Use for testing conditions individually. Remove # from line below and change Confirmation_Factor to 1.
#def Agreement_Level = condition1;
def Agreement_LevelOB = 10;
def Agreement_LevelOS = 3;

plot Agreement_Level = condition1 + condition2 + condition4 + condition5 + condition6 + condition7 + condition8 + condition9 + condition10 + condition11 + condition12 + condition14 + conditionK1 + conditionK2;

def conditionChannel1 = Upper_BandK > price;
def conditionChannel2 = Lower_BandK < price;

def UP = Agreement_Level >= Confirmation_Factor;
def DOWN = Agreement_Level <= Confirmation_Factor;

Agreement_Level.AssignValueColor(
if Agreement_Level > Agreement_Level[1] and Agreement_Level >= Confirmation_Factor then Color.RED
else if Agreement_Level < Agreement_Level[1] and Agreement_Level >= Confirmation_Factor then Color.DARK_RED
else if Agreement_Level < Agreement_Level[1] and Agreement_Level < Confirmation_Factor then Color.GREEN else
if Agreement_Level > Agreement_Level[1] and Agreement_Level < Confirmation_Factor then Color.DARK_GREEN
else Color.GRAY);

plot Factor_Line = Confirmation_Factor;
Factor_Line.SetStyle(Curve.SHORT_DASH);
Factor_Line.SetLineWeight(1);
Factor_Line.SetDefaultColor(Color.Gray);

plot OB_Level = 12;
OB_Level.SetPaintingStrategy(PaintingStrategy.LINE);
OB_Level.SetLineWeight(1);
OB_Level.SetDefaultColor(Color.RED);

plot OS_Level = 3;
OS_Level.SetPaintingStrategy(PaintingStrategy.LINE);
OS_Level.SetLineWeight(1);
OS_Level.SetDefaultColor(Color.LIGHT_GREEN);


AddCloud(Agreement_Level, OB_Level, Color.RED, Color.CURRENT);
AddCloud(Agreement_Level, OS_Level, Color.CURRENT, Color.LIGHT_GREEN);

The reversal signals still need quite a bit of work. They tend to work better on hour+ timeframes. However, the candles do a pretty good job on their own.

 

[diamondhands]

Hello, Can you please explain why some candles are colored solild and others empty ? Also, the reversal alerts from 1-6, what do they precisely indicate? I am confused there. Thank you.

 

[Christopher84]

Hello, Can you please explain why some candles are colored solild and others empty ? Also, the reversal alerts from 1-6, what do they precisely indicate? I am confused there. Thank you.

Hi Diamondhands!
The way the candles fill (up or down) is determined in your chart settings. Select the gear icon at the top of your chart and go to appearance. The reversal alerts are still being worked on and in their current version (just posted on the main page of this thread), they tend to be more accurate on timeframes of 1-4 hour charts. I am working on them and should have something better soon. Very trick thing to try and isolate. However, the candles do a really good job of showing reversals all on their own (especially if you are using something to help indicate support and resistance). Hope this helps out. Let me know how it goes.

 

[diamondhands]

Hello Christopher84!

Thank you so much for your swift reply. Yes your right its to do with appearance settings and has been changed now.

The confirmation factor is set to 3 ( as per your V.7) on the first page. Is that the best setting or how shall we tweak it to adjust the entries? I mean 3 is the number of factors it has to be ticked or checked before giving entry signal ?

 

[rfb]

Hi rfb! I took some time today and modified the Confirmation Candles and Confirmation Lower to allow them to work on the SPX for you. I had to omit 2 of the studies, but it still functions well. Sorry for the delay.

#Confirmation Candles SPX
#Created 04/15/2021 by Christopher84
#Select the level of agreement among the 13 indicators included.
#Changed 04/19/2021 to V.3 - Removed ChaikinOsc and replaced with STARCBands. Added squeeze alert.
#Changed 04/20/2021 to V.4 - Added Keltner Channel, Labels, and Buy and Sell Zones. Mean Reversion and Breakout Labels added. Reversal_Alert points added.
#Changed 4/22/2021 to V.5 - Removed Buy/Sell clouds. Created new reversal alert buy(gray points) and take profit (red points). Increase factorK.
#Changed 4/23/2021 to V.6 - Refined reversal signals. Fully integrated Super_OB_OS indicator. Fixed candles going yellow if colored_candles is off.
#Changed 4/26/2021 to V.7 - Refined reversal signals and included Keltner Bandwidth. Adjusted Keltner Channel levels.
#Changed 4/26/2021 to SPX - # MFI and Klinger Histogram.
#Keltner Channel
declare upper;
def displace = 0;
input factorK = 2.0;
input lengthK = 20;
input price = close;
input averageType = AverageType.SIMPLE;
input trueRangeAverageType = AverageType.SIMPLE;
input BulgeLengthK = 150;
input SqueezeLengthK = 150;

def shift = factorK * MovingAverage(trueRangeAverageType, TrueRange(high, close, low), lengthK);
def averageK = MovingAverage(averageType, price, lengthK);
def AvgK = averageK[-displace];
def Upper_BandK = averageK[-displace] + shift[-displace];
def Lower_BandK = averageK[-displace] - shift[-displace];

def conditionK1 = price >= Upper_BandK;
def conditionK2 = (Upper_BandK[1] < Upper_BandK) and (Lower_BandK[1] < Lower_BandK);
def conditionK2L = (Upper_BandK[2] < Upper_BandK[1]) and (Lower_BandK[2] < Lower_BandK[1]);
def conditionK3L = (Upper_BandK[3] < Upper_BandK[2]) and (Lower_BandK[3] < Lower_BandK[2]);
def conditionK3 = (Upper_BandK[1] > Upper_BandK) and (Lower_BandK[1] > Lower_BandK);
def BandwidthK = (Upper_BandK - Lower_BandK) / AvgK * 100;
def condition_BWKUP = BandwidthK[1] < BandwidthK;
def condition_BWKDOWN = BandwidthK[1] > BandwidthK;
def BulgeK = Highest(BandwidthK, BulgeLengthK);
def SqueezeK = Lowest(BandwidthK, SqueezeLengthK);
def BulgeK2 = Highest(BandwidthK, BulgeLengthK);
def SqueezeK2 = Lowest(BandwidthK, SqueezeLengthK);

#MACD with Price
def fastLength = 12;
def slowLength = 26;
def MACDLength = 9;
input MACD_AverageType = {SMA, default EMA};
def MACDLevel = 0.0;

def fastEMA = ExpAverage(price, fastLength);
def slowEMA = ExpAverage(price, slowLength);
def Value;
def Avg;
switch (MACD_AverageType) {
case SMA:
    Value = Average(price, fastLength) - Average(price, slowLength);
    Avg = Average(Value, MACDLength);
case EMA:
    Value = fastEMA - slowEMA;
    Avg = ExpAverage(Value, MACDLength);
}
def Diff = Value - Avg;
def Level = MACDLevel;

def condition1 = Value[1] <= Value;

#RSI
def RSI_length = 14;
def RSI_AverageType = AverageType.WILDERS;
def RSI_OB = 70;
def RSI_OS = 30;

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

def condition2 = (RSI[3] < RSI) is true or (RSI >= 80) is true;
def conditionOB1 = RSI > RSI_OB;
def conditionOS1 = RSI < RSI_OS;


#MFI
#def MFI_Length = 14;
#def MFIover_Sold = 20;
#def MFIover_Bought = 80;
#def movingAvgLength = 1;
#def MoneyFlowIndex = Average(MoneyFlow(high, close, low, volume, MFI_Length), movingAvgLength);
#def MFIOverBought = MFIover_Bought;
#def MFIOverSold = MFIover_Sold;

#def condition3 = (MoneyFlowIndex[2] < MoneyFlowIndex) is true or (MoneyFlowIndex > 85) is true;
#def conditionOB2 = MoneyFlowIndex > MFIover_Bought;
#def conditionOS2 = MoneyFlowIndex < MFIover_Sold;

#Forecast
def na = Double.NaN;
def MidLine = 50;
def Momentum = MarketForecast().Momentum;
def NearT =  MarketForecast().NearTerm;
def Intermed = MarketForecast().Intermediate;
def FOB = 80;
def FOS = 20;
def upperLine = 110;

def condition4 = (Intermed[1] <= Intermed) and (NearT >= MidLine);
def conditionOB3 = Intermed > FOB;
def conditionOS3 = Intermed < FOS;
def conditionOB4 = NearT > FOB;
def conditionOS4 = NearT < FOS;


#Pivot Signals
def n = 20;
def ticks = 2.0;
def bnOK = BarNumber() > n;
def isHigher = fold i = 1 to n + 1 with p = 1 while p do high > GetValue(high, -i);
def HH = if bnOK and isHigher and high == Highest(high, n) then high else Double.NaN;
def isLower = fold j = 1 to n + 1 with q = 1 while q do low < GetValue(low, -j);
def LL = if bnOK and isLower and low == Lowest(low, n) then low else Double.NaN;
def PivH = if HH > 0 then HH else Double.NaN;
def PivL = if LL > 0 then LL else Double.NaN;

def UpPivotLow = !IsNaN(PivL);
#UpPivotLow.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
#UpPivotLow.SetLineWeight(4);
#UpPivotLow.SetDefaultColor(Color.GREEN);

def DownPivotHigh = !IsNaN(PivH);
#DownPivotHigh.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
#DownPivotHigh.SetLineWeight(4);
#DownPivotHigh.SetDefaultColor(Color.RED);

def condition5 = !IsNaN(PivL);

#EMA_1
def EMA_length = 12;
def AvgExp = ExpAverage(price[-displace], EMA_length);

def condition6 = (price >= AvgExp) and (AvgExp[2] <= AvgExp);

#EMA_2
def EMA_2length = 20;
def displace2 = 0;
def AvgExp2 = ExpAverage(price[-displace2], EMA_2length);

def condition7 = (price >= AvgExp2) and (AvgExp[2] <= AvgExp);

#DMI Oscillator
def DMI_length = 5;#Typically set to 10
input DMI_averageType = AverageType.WILDERS;
def diPlus = DMI(DMI_length, DMI_averageType)."DI+";
def diMinus = DMI(DMI_length, DMI_averageType)."DI-";
def Osc = diPlus - diMinus;
def Hist = Osc;
def ZeroLine = 0;

def condition8 = Osc >= ZeroLine;

#Trend_Periods
def TP_fastLength = 3;#Typically 7
def TP_slowLength = 4;#Typically 15
def Periods = Sign(ExpAverage(close, TP_fastLength) - ExpAverage(close, TP_slowLength));

def condition9 = Periods > 0;

#Polarized Fractal Efficiency
def PFE_length = 5;#Typically 10
def smoothingLength = 2.5;#Typically 5
def PFE_diff = close - close[PFE_length - 1];
def val = 100 * Sqrt(Sqr(PFE_diff) + Sqr(PFE_length)) / Sum(Sqrt(1 + Sqr(close - close[1])), PFE_length - 1);
def PFE = ExpAverage(if PFE_diff > 0 then val else -val, smoothingLength);
def UpperLevel = 50;
def LowerLevel = -50;

def condition10 = PFE > 0;
def conditionOB5 = PFE > UpperLevel;
def conditionOS5 = PFE < LowerLevel;


#Bollinger Bands PercentB
input BBPB_averageType = AverageType.SIMPLE;
def BBPB_length = 5;#Typically 20
def Num_Dev_Dn = -2.0;
def Num_Dev_up = 2.0;
def BBPB_OB = 100;
def BBPB_OS = 0;
def upperBand = BollingerBands(price, displace, BBPB_length, Num_Dev_Dn, Num_Dev_up, BBPB_averageType).UpperBand;
def lowerBand = BollingerBands(price, displace, BBPB_length, Num_Dev_Dn, Num_Dev_up, BBPB_averageType).LowerBand;
def PercentB = (price - lowerBand) / (upperBand - lowerBand) * 100;
def HalfLine = 50;
def UnitLine = 100;

def condition11 = PercentB > HalfLine;
def conditionOB6 = PercentB > BBPB_OB;
def conditionOS6 = PercentB < BBPB_OS;


#STARC Bands
def ATR_length = 15;
def SMA_lengthS = 6;
def multiplier_factor = 1.5;
def valS = Average(price, SMA_lengthS);
def average_true_range = Average(TrueRange(high, close, low), length = ATR_length);
def Upper_BandS = valS[-displace] + multiplier_factor * average_true_range[-displace];
def Middle_BandS = valS[-displace];
def Lower_BandS = valS[-displace] - multiplier_factor * average_true_range[-displace];

def condition12 = (Upper_BandS[1] <= Upper_BandS) and (Lower_BandS[1] <= Lower_BandS);

#Klinger Histogram
#def Klinger_Length = 8;
#def KVOsc = KlingerOscillator(Klinger_Length).KVOsc;
#def KVOH = KVOsc - Average(KVOsc, Klinger_Length);
#def condition13 = (KVOH > 0) and (KVOsc[1] <= KVOsc);

#Projection Oscillator
def ProjectionOsc_length = 9;#Typically 10
def MaxBound = HighestWeighted(high, ProjectionOsc_length, LinearRegressionSlope(price = high, length = ProjectionOsc_length));
def MinBound = LowestWeighted(low, ProjectionOsc_length, LinearRegressionSlope(price = low, length = ProjectionOsc_length));
def ProjectionOsc_diff = MaxBound - MinBound;
def PROSC = if ProjectionOsc_diff != 0 then 100 * (close - MinBound) / ProjectionOsc_diff else 0;
def PROSC_OB = 80;
def PROSC_OS = 20;

def condition14 = PROSC > 50;
def conditionOB7 = PROSC > PROSC_OB;
def conditionOS7 = PROSC < PROSC_OS;


#Trend Confirmation Calculator
#Confirmation_Factor range 1-15.
input coloredCandlesOn = yes;
input Confirmation_Factor = 3;
#Use for testing conditions individually. Remove # from line below and change Confirmation_Factor to 1.
#def Agreement_Level = condition1;
def Agreement_LevelOB = 12;
def Agreement_LevelOS = 3;

def Agreement_Level = condition1 + condition2 + condition4 + condition5 + condition6 + condition7 + condition8 + condition9 + condition10 + condition11 + condition12 + condition14 + conditionK1 + conditionK2;

def conditionChannel1 = Upper_BandK > price;
def conditionChannel2 = Lower_BandK < price;

def UP = Agreement_Level >= Confirmation_Factor;
def DOWN = Agreement_Level <= Confirmation_Factor;

AssignPriceColor(if coloredCandlesOn and UP then Color.LIGHT_GREEN else if coloredCandlesOn and DOWN then Color.RED else Color.CURRENT);

#Additional Signals

#Super_OB/OS Signal
def OB_Level = conditionOB1 + conditionOB3 + conditionOB4 + conditionOB5 + conditionOB6 + conditionOB7;
def OS_Level = conditionOS1  + conditionOS3 + conditionOS4 + conditionOS5 + conditionOS6 + conditionOS7;

def Concensus_Line = OB_Level - OS_Level;
def Zero_Line = 0;
def Super_OB = 4;
def Super_OS = -2;

def DOWN_OB = (Agreement_Level > Agreement_LevelOB) and (Concensus_Line > Super_OB);
def UP_OS = (Agreement_Level < Agreement_LevelOS) and (Concensus_Line < Super_OS);

def OS_Buy = UP_OS;
def OB_Sell = DOWN_OB;
def neutral = Concensus_Line < Super_OB and Concensus_Line > Super_OS;

#AddVerticalLine (OS_Buy and !OS_Buy[1], close, Color.GREEN, Curve.SHORT_DASH);
#AddVerticalLine (Neutral and !neutral[1], close, Color.Gray, Curve.SHORT_DASH);
#AddVerticalLine (OB_Sell and OB_Sell and !OB_Sell[1], close, Color.RED, Curve.SHORT_DASH);

def Buy_Opportnity = if OS_Buy then Double.POSITIVE_INFINITY else Double.NEGATIVE_INFINITY;
#AddCloud(Buy_Opportnity, Neutral, Color.LIGHT_GREEN, Color.LIGHT_RED);
def Sell_Opportnity = if OB_Sell then Double.POSITIVE_INFINITY else Double.NEGATIVE_INFINITY;
#AddCloud(Sell_Opportnity, Neutral, Color.LIGHT_RED, Color.LIGHT_RED);

def OB_Signal = price crosses below Upper_BandK;
#OB_Signal.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
#OB_Signal.SetLineWeight(1);
#OB_Signal.SetDefaultColor(Color.RED);

def OS_Signal = price crosses above Lower_BandK;
#OS_Signal.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
#OS_Signal.SetLineWeight(1);
#OS_Signal.SetDefaultColor(Color.GREEN);

#Squeeze Alert
def length = 20;
def BulgeLength = 150;
def SqueezeLength = 150;
def upperBandBB = BollingerBands(price, displace, length, Num_Dev_Dn, Num_Dev_up, averageType).UpperBand;
def lowerBandBB = BollingerBands(price, displace, length, Num_Dev_Dn, Num_Dev_up, averageType).LowerBand;
def midLineBB = BollingerBands(price, displace, length, Num_Dev_Dn, Num_Dev_up, averageType).MidLine;
def Bandwidth = (upperBandBB - lowerBandBB) / midLineBB * 100;
def Bulge = Highest(Bandwidth, BulgeLength);
def Squeeze = Lowest(Bandwidth, SqueezeLength);

plot Squeeze_Alert = Bandwidth <= Squeeze;
Squeeze_Alert.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
Squeeze_Alert.SetLineWeight(3);
Squeeze_Alert.SetDefaultColor(Color.YELLOW);

#Trend Signals
#Bollinger_Bands2
input lengthBB = 10;
input Num_Dev_DnBB = -0.8;
input Num_Dev_upBB = 0.8;

def price1 = open;
def sDev = StDev(data = price[-displace], length = lengthBB);
def MidLineBB2 = MovingAverage(averageType, data = price[-displace], length = lengthBB);
def LowerBandBB2 = MidLineBB2 + Num_Dev_DnBB * sDev;
def UpperBandBB2 = MidLineBB2 + Num_Dev_upBB * sDev;


def condition_Slope_RevUP = ((Agreement_Level[1] < Agreement_Level) or (Agreement_Level[2] >= Agreement_Level[1])) or ((Concensus_Line[1] < Concensus_Line) and (Concensus_Line[2] >= Concensus_Line[1]));
def condition_Slope_RevDOWN = ((Agreement_Level[1] > Agreement_Level) and (Agreement_Level[2] <= Agreement_Level[1])) or ((Concensus_Line[1] > Concensus_Line) and (Concensus_Line[2] <= Concensus_Line[1]));
def condition_Flat = (Agreement_Level[2] == Agreement_Level[1]) or (Concensus_Line[2] == Concensus_Line[1]);
def condition_Flat2 = ((Agreement_Level[1] == Agreement_Level) and (Concensus_Line[1] == Concensus_Line));
def condition_Flat3 = ((Agreement_Level[1] == Agreement_Level) or (Concensus_Line[1] == Concensus_Line));
def condition_OB = ((Agreement_Level >= 12) or (Concensus_Line >= 2) and (price > Upper_BandK));
def condition_OS = ((Agreement_Level <= 2) or (Concensus_Line <= -2));# and (price < lower_BandK)

plot UPConfirmSignal = Agreement_Level crosses above Confirmation_Factor;
UPConfirmSignal.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
UPConfirmSignal.SetLineWeight(1);
UPConfirmSignal.SetDefaultColor(Color.GREEN);

plot DOWNConfirmSignal = Agreement_Level crosses below Confirmation_Factor;
DOWNConfirmSignal.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
DOWNConfirmSignal.SetLineWeight(1);
DOWNConfirmSignal.SetDefaultColor(Color.RED);

plot Reversal_Sell_1 = ((Agreement_Level crosses below 10) and (Concensus_Line crosses below Super_OB) and (price > Middle_BandS));
Reversal_Sell_1.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
Reversal_Sell_1.SetLineWeight(3);
Reversal_Sell_1.SetDefaultColor(Color.RED);

plot Reversal_Buy_1 = ((Agreement_Level < 2) and Concensus_Line < 0) and conditionK2 and conditionK2L and conditionK3L and (price < LowerBandBB2) and condition_BWKUP;
Reversal_Buy_1.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
Reversal_Buy_1.SetLineWeight(3);
Reversal_Buy_1.SetDefaultColor(Color.GREEN);

plot Reversal_Buy2 = ((Agreement_Level < 2) and Concensus_Line < 0) and condition_Slope_RevUP and conditionK2 and condition_BWKDOWN;
Reversal_Buy2.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
Reversal_Buy2.SetLineWeight(3);
Reversal_Buy2.SetDefaultColor(Color.GREEN);

plot Reversal_Sell_2 = (Concensus_Line[1] == Concensus_Line) and (Concensus_Line > 0) and (Agreement_Level[2] > Agreement_Level) and condition_BWKUP and (price < Upper_BandK) and (price[1] < price);
Reversal_Sell_2.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
Reversal_Sell_2.SetLineWeight(3);
Reversal_Sell_2.SetDefaultColor(Color.RED);

plot Reversal_Buy_3 = Agreement_Level < 1 and (price1 < Lower_BandK) and (condition_BWKUP);
Reversal_Buy_3.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
Reversal_Buy_3.SetLineWeight(3);
Reversal_Buy_3.SetDefaultColor(Color.GREEN);

plot Reversal_Sell_3 = Agreement_Level > 13 and (price < upperBandBB) and (price > Upper_BandK) and (condition_BWKUP) and (price[1] > price);
Reversal_Sell_3.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
Reversal_Sell_3.SetLineWeight(3);
Reversal_Sell_3.SetDefaultColor(Color.RED);

plot Reversal_MeanReversion = conditionK3 and (price > UpperBandBB2);
Reversal_MeanReversion.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
Reversal_MeanReversion.SetLineWeight(3);
Reversal_MeanReversion.SetDefaultColor(Color.RED);

def condition_Reversal_CA_Buy = (Agreement_Level < 1) and (Agreement_Level[1] <= Agreement_Level);
def condition_Reversal_SOS_Buy = (Concensus_Line < -2) and (Concensus_Line[1] <= Concensus_Line);
#plot Reversal_Buy = (condition_Reversal_CA_Buy) or (condition_Reversal_SOS_Buy);
#Reversal_Buy.SetPaintingStrategy(PaintingStrategy.BOOLEAN_POINTS);
#Reversal_Buy.SetLineWeight(1);
#Reversal_Buy.SetDefaultColor(Color.LIGHT_GRAY);

#Labels
def Buy = UP_OS;
def Sell = DOWN_OB;
AddLabel(yes, "Look_To_Buy", if Buy then Color.GREEN else Color.GRAY);
AddLabel(yes, "Look_To_Sell", if Sell then Color.RED else Color.GRAY);

def MomentumUP = Agreement_Level[1] < Agreement_Level;
def MomentumDOWN = Agreement_Level[1] > Agreement_Level;
AddLabel(yes, "Increasing Momentum", if MomentumUP then Color.GREEN else Color.GRAY);
AddLabel(yes, "Decreasing Momentum", if MomentumDOWN then Color.RED else Color.GRAY);

def conditionMR = (Upper_BandK[1] > Upper_BandK) and (Lower_BandK[1] > Lower_BandK);
AddLabel(yes, "MEAN REVERSION", if conditionMR then Color.RED else Color.GRAY);

def conditionBO = ((Upper_BandS[1] < Upper_BandS) and (Lower_BandS[1] < Lower_BandS)) and ((Upper_BandK[1] < Upper_BandK) and (Lower_BandK[1] < Lower_BandK));
AddLabel(yes, "BREAKOUT", if conditionBO then Color.GREEN else Color.GRAY);

def conditionBD = ((Upper_BandS[1] > Upper_BandS) and (Lower_BandS[1] > Lower_BandS) and (Upper_BandK[1] > Upper_BandK) and (Lower_BandK[1] > Lower_BandK));
AddLabel(yes, "BREAKDOWN", if conditionBD then Color.RED else Color.GRAY);

def Squeeze_Signal = Squeeze_Alert;
AddLabel(yes, "SQUEEZE ALERT", if Squeeze_Signal then Color.YELLOW else Color.GRAY);

@Christopher84: Outstanding! Thank you so much for the update! I'll load it early tomorrow morning and will report back!