The Double Ribbon - indicator is a powerful tool that combines two sets of Moving Averages (MAs) into a visually intuitive ribbon, which helps traders assess market trends and momentum. This indicator features two distinct ribbons: one with a fixed length but changing offset (displayed in gray) and another with varying lengths (displayed in colors). The relationship between these ribbons forms the basis of a trend score, which is visualized as an oscillator. This comprehensive approach provides traders with a clear view of market direction and strength.
Upper Study:
CSS:
#// Indicator for TOS
#// © ChartPrime
#indicator("Double Ribbon [ChartPrime]")
# Converted by Sam4Cok@Samer800 - 09/2024
input timeframe = AggregationPeriod.MIN;
input colorBars = yes;
input showLabel = yes;
input movAvgType = AverageType.SIMPLE;
input Source = FundamentalType.CLOSE; # "Source"
input Length = 25; # "Length"
def na = Double.NaN;
def last = IsNaN(close);
def current = GetAggregationPeriod();
def tf = Max(current, timeframe);
def src = Fundamental(FundamentalType = Source, Period = tf);
#// Initialize variables
def sma1 = MovingAverage(movAvgType, src, Length); # // Primary SMA for comparison
def mva0 = MovingAverage(movAvgType, src, Length + 1 + 0);
def mva1 = MovingAverage(movAvgType, src, Length + 1 + 1);
def mva2 = MovingAverage(movAvgType, src, Length + 1 + 2);
def mva3 = MovingAverage(movAvgType, src, Length + 1 + 3);
def mva4 = MovingAverage(movAvgType, src, Length + 1 + 4);
def mva5 = MovingAverage(movAvgType, src, Length + 1 + 5);
def mva6 = MovingAverage(movAvgType, src, Length + 1 + 6);
def mva7 = MovingAverage(movAvgType, src, Length + 1 + 7);
def mva8 = MovingAverage(movAvgType, src, Length + 1 + 8);
def mva9 = MovingAverage(movAvgType, src, Length + 1 + 9);
def mva10 = MovingAverage(movAvgType, src, Length + 1 + 10);
def mva11 = MovingAverage(movAvgType, src, Length + 1 + 11);
def score0 = if sma1[0] < mva0 then 1 else -1;
def score1 = score0 + if sma1[1] < mva1 then 1 else -1;
def score2 = score1 + if sma1[2] < mva2 then 1 else -1;
def score3 = score2 + if sma1[3] < mva3 then 1 else -1;
def score4 = score3 + if sma1[4] < mva4 then 1 else -1;
def score5 = score4 + if sma1[5] < mva5 then 1 else -1;
def score6 = score5 + if sma1[6] < mva6 then 1 else -1;
def score7 = score6 + if sma1[7] < mva7 then 1 else -1;
def score8 = score7 + if sma1[8] < mva8 then 1 else -1;
def score9 = score8 + if sma1[9] < mva9 then 1 else -1;
def score10 = score9 + if sma1[10] < mva10 then 1 else -1;
def score11 = score10 + if sma1[11] < mva11 then 1 else -1;
def score = if isNaN(score11) then 0 else score11;
def col = (score + 12) * 10.6;
#// 𝙄𝙉𝘿𝙄𝘾𝘼𝙏𝙊𝙍 𝘾𝘼𝙇𝘾𝙐𝙇𝘼𝙏𝙄𝙊𝙉𝙎
plot movAvgLine = if last then na else sma1;
plot m1a0 = if last then na else mva0;
plot m1a1 = if last then na else mva1;
plot m1a2 = if last then na else mva2;
plot m1a3 = if last then na else mva3;
plot m1a4 = if last then na else mva4;
plot m1a5 = if last then na else mva5;
plot m1a6 = if last then na else mva6;
plot m1a7 = if last then na else mva7;
plot m1a8 = if last then na else mva8;
plot m1a9 = if last then na else mva9;
plot m1a10 = if last then na else mva10;
plot ma0 = if last then na else sma1[0];
plot ma1 = if last then na else sma1[1];
plot ma2 = if last then na else sma1[2];
plot ma3 = if last then na else sma1[3];
plot ma4 = if last then na else sma1[4];
plot ma5 = if last then na else sma1[5];
plot ma6 = if last then na else sma1[6];
plot ma7 = if last then na else sma1[7];
plot ma8 = if last then na else sma1[8];
plot ma9 = if last then na else sma1[9];
plot ma10 = if last then na else sma1[10];
movAvgLine.SetDefaultColor(Color.WHiTE);
m1a0.setLineWeight(2);
m1a1.setLineWeight(2);
m1a2.setLineWeight(2);
m1a3.setLineWeight(2);
m1a4.setLineWeight(2);
m1a5.setLineWeight(2);
m1a6.setLineWeight(2);
m1a7.setLineWeight(2);
m1a8.setLineWeight(2);
m1a9.setLineWeight(2);
m1a10.setLineWeight(2);
m1a0.AssignValueColor(if score > 0 then CreateColor(255-col,col,col) else CreateColor(255-col,col,255-col));
m1a1.AssignValueColor(if score > 0 then CreateColor(255-col,col,col) else CreateColor(255-col,col,255-col));
m1a2.AssignValueColor(if score > 0 then CreateColor(255-col,col,col) else CreateColor(255-col,col,255-col));
m1a3.AssignValueColor(if score > 0 then CreateColor(255-col,col,col) else CreateColor(255-col,col,255-col));
m1a4.AssignValueColor(if score > 0 then CreateColor(255-col,col,col) else CreateColor(255-col,col,255-col));
m1a5.AssignValueColor(if score > 0 then CreateColor(255-col,col,col) else CreateColor(255-col,col,255-col));
m1a6.AssignValueColor(if score > 0 then CreateColor(255-col,col,col) else CreateColor(255-col,col,255-col));
m1a7.AssignValueColor(if score > 0 then CreateColor(255-col,col,col) else CreateColor(255-col,col,255-col));
m1a8.AssignValueColor(if score > 0 then CreateColor(255-col,col,col) else CreateColor(255-col,col,255-col));
m1a9.AssignValueColor(if score > 0 then CreateColor(255-col,col,col) else CreateColor(255-col,col,255-col));
m1a10.AssignValueColor(if score > 0 then CreateColor(255-col,col,col) else CreateColor(255-col,col,255-col));
ma0.SetDefaultColor(Color.DARK_GRAY);
ma1.SetDefaultColor(Color.DARK_GRAY);
ma2.SetDefaultColor(Color.DARK_GRAY);
ma3.SetDefaultColor(Color.DARK_GRAY);
ma4.SetDefaultColor(Color.DARK_GRAY);
ma5.SetDefaultColor(Color.DARK_GRAY);
ma6.SetDefaultColor(Color.DARK_GRAY);
ma7.SetDefaultColor(Color.DARK_GRAY);
ma8.SetDefaultColor(Color.DARK_GRAY);
ma9.SetDefaultColor(Color.DARK_GRAY);
ma10.SetDefaultColor(Color.DARK_GRAY);
#-- bar Color
AssignPriceColor(if !colorBars then Color.CURRENT else CreateColor(255-col,col,0));
#-- Labels
AddLabel(showLabel,(if score > 0 then "Trend Up (" else "Trend Down (") + score + ")",
if score > 0 then CreateColor(255-col,col,col) else CreateColor(255-col,col,255-col));
#-- END of CODeLower Study :
CSS:
#// Indicator for TOS
#// © ChartPrime
#indicator("Double Ribbon [ChartPrime]")
# Converted by Sam4Cok@Samer800 - 09/2024
Declare lower;
input timeframe = AggregationPeriod.MIN;
input colorBars = yes;
input showLabel = yes;
input movAvgType = AverageType.SIMPLE;
input Source = FundamentalType.CLOSE; # "Source"
input Length = 25; # "Length"
def na = Double.NaN;
def last = IsNaN(close);
def current = GetAggregationPeriod();
def tf = Max(current, timeframe);
def src = Fundamental(FundamentalType = Source, Period = tf);
#// Initialize variables
def sma1 = MovingAverage(movAvgType, src, Length); # // Primary SMA for comparison
def mva0 = MovingAverage(movAvgType, src, Length + 1 + 0);
def mva1 = MovingAverage(movAvgType, src, Length + 1 + 1);
def mva2 = MovingAverage(movAvgType, src, Length + 1 + 2);
def mva3 = MovingAverage(movAvgType, src, Length + 1 + 3);
def mva4 = MovingAverage(movAvgType, src, Length + 1 + 4);
def mva5 = MovingAverage(movAvgType, src, Length + 1 + 5);
def mva6 = MovingAverage(movAvgType, src, Length + 1 + 6);
def mva7 = MovingAverage(movAvgType, src, Length + 1 + 7);
def mva8 = MovingAverage(movAvgType, src, Length + 1 + 8);
def mva9 = MovingAverage(movAvgType, src, Length + 1 + 9);
def mva10 = MovingAverage(movAvgType, src, Length + 1 + 10);
def mva11 = MovingAverage(movAvgType, src, Length + 1 + 11);
def score0 = if sma1[0] < mva0 then 1 else -1;
def score1 = score0 + if sma1[1] < mva1 then 1 else -1;
def score2 = score1 + if sma1[2] < mva2 then 1 else -1;
def score3 = score2 + if sma1[3] < mva3 then 1 else -1;
def score4 = score3 + if sma1[4] < mva4 then 1 else -1;
def score5 = score4 + if sma1[5] < mva5 then 1 else -1;
def score6 = score5 + if sma1[6] < mva6 then 1 else -1;
def score7 = score6 + if sma1[7] < mva7 then 1 else -1;
def score8 = score7 + if sma1[8] < mva8 then 1 else -1;
def score9 = score8 + if sma1[9] < mva9 then 1 else -1;
def score10 = score9 + if sma1[10] < mva10 then 1 else -1;
def score11 = score10 + if sma1[11] < mva11 then 1 else -1;
def score = if isNaN(score11) then 0 else score11;
def avgScr = Average(score, 2);
def col = (score + 12) * 10.6;
#// 𝙄𝙉𝘿𝙄𝘾𝘼𝙏𝙊𝙍 𝘾𝘼𝙇𝘾𝙐𝙇𝘼𝙏𝙄𝙊𝙉𝙎
#// Plot the trend score as a line
def scoreUp = score > 2;
def scoreDn = score <-2;
def scoreUp1 = score > 6;
def scoreDn1 = score <-6;
def scoreUp2 = score > 10;
def scoreDn2 = score <-10;
plot p1 = if last then na else avgScr; # Smoothed score line
plot p2 = if last then na else 0; # Zero line for reference
p1.AssignValueColor(if scoreUp[1] then Color.CYAN else
if scoreDn[1] then Color.MAGENTA else Color.GRAY);
p2.SetDefaultColor(Color.GRAY);
AddCloud(if (scoreUp2 or scoreUp2[1]) then p1 else na, 10, CreateColor(0, 118, 118));
AddCloud(if (scoreDn2 or scoreDn2[1]) then -10 else na, p1, Color.PLUM);
AddCloud(if (scoreUp1 or scoreUp1[1]) then p1 else na, 6, CreateColor(0, 118, 118));
AddCloud(if (scoreDn1 or scoreDn1[1]) then -6 else na, p1, Color.PLUM);
AddCloud(if (scoreUp or scoreUp[1]) then p1 else na, 2, CreateColor(0, 118, 118));
AddCloud(if (scoreDn or scoreDn[1]) then -2 else na, p1, Color.PLUM);
#-- bar Color
AssignPriceColor(if !colorBars then Color.CURRENT else CreateColor(255-col,col,0));
#-- Labels
AddLabel(showLabel,(if score > 0 then "Trend Up (" else "Trend Down (") + score + ")",
if score > 0 then CreateColor(255-col,col,col) else CreateColor(255-col,col,255-col));
#-- END of CODe
