check the below
CSS:#// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/ #// © blackcat1402 #study("[blackcat] L3 Banker Fund Flow Trend Oscillator", overlay=false) # Converted and mod by [email protected] - 02/2023 # Update - added option for source selection declare lower; #//functions input BarColor = no; input SmoothingLength = 13; input SourceType = {Default "High/Low", "CCHOL"}; def na = Double.NaN; def last = isNaN(close[1]); #//define typical price for banker fund def typ = (2 * close + high + low + open) / 5; def type = SourceType==SourceType."High/Low"; #xrf(values, length) => script xrf { input values = close; input length = 34; def r_val;# = float(na) r_val = if length >= 1 then fold i = 0 to length +1 with p=values do if IsNaN(p) or !IsNaN(values[i]) then values[i] else p else Double.NaN; plot out = r_val; } #xsa(src,len,wei) => script xsa { input src = close; input len = 5; input wei = 1; def sumf;# = 0.0 def ma;# = 0.0 def out;# = 0.0 sumf = CompoundValue(1, sumf[1] - src[len] + src , src); ma = if IsNaN(src[len]) then Double.NaN else sumf / len; out = if IsNaN(out[1]) then ma else (src * wei + out[1] * (len - wei)) / len; plot return = out; } def wmCal = (close - Lowest(low, 27)) / (Highest(high, 27) - Lowest(low, 27)) * 100; #//set up a simple model of banker fund flow trend def fundtrend = (3 * xsa(wmCal, 5, 1) - 2 * xsa(xsa(wmCal, 5, 1), 3, 1) - 50) * 1.032 + 50; #//lowest low with mid term fib # 34 def lol = Lowest(if type then low else typ, 34); #//highest high with mid term fib # 34 def hoh = Highest(if type then high else typ, 34); #//define banker fund flow bull bear line def bullbear = (typ - lol) / (hoh - lol) * 100; def bullbearline = ExpAverage(bullbear, SmoothingLength); #//define banker entry signal def bankerentry = Crosses(fundtrend, bullbearline, CrossingDirection.ABOVE) and bullbearline < 25; def bankerExit = Crosses(fundtrend, bullbearline, CrossingDirection.BELOW) and bullbearline > 75; #//banker increase position with green candle def UpCandle = fundtrend > bullbearline; def WeakUp = fundtrend < (xrf(fundtrend * 0.95, 1)); def DnCandle = fundtrend < bullbearline; def WeakDn = fundtrend < bullbearline and fundtrend > (xrf(fundtrend * 0.95, 1)); # Plot the new Chart #//banker fund entry with yellow candle AddChart(high = if bankerExit then 100 else na, low = 0 , open = 100, close = 0, type = ChartType.CANDLE, growcolor = Color.DARK_RED); AddChart(high = if bankerentry then 100 else na, low = 0 , open = 100, close = 0, type = ChartType.CANDLE, growcolor = CreateColor(26, 70, 85)); AddChart(high = if UpCandle then bullbearline else na , low = fundtrend , open = fundtrend, close = bullbearline, type = ChartType.CANDLE, growcolor = CreateColor(7,205,15)); AddChart(high = if WeakUp then bullbearline else na , low = fundtrend , open = fundtrend, close = bullbearline, type = ChartType.CANDLE, growcolor = CreateColor(188,245,188)); AddChart(high = if DnCandle then bullbearline else na , low = fundtrend , open = bullbearline, close = fundtrend, type = ChartType.CANDLE, growcolor = Color.RED); AddChart(high = if WeakDn then bullbearline else na , low = fundtrend , open = bullbearline, close = fundtrend, type = ChartType.CANDLE, growcolor = Color.PINK); #/overbought and oversold threshold lines def h1 = if last then na else 80; def h2 = if last then na else 20; def h3 = 10; def h4 = 90; plot h5 = if last then na else 50; h5.SetDefaultColor(Color.DARK_GRAY); AddCloud(h2, h3, CreateColor(157,157,0));#color=color.yellow,transp=70) AddCloud(h4, h1, CreateColor(157,0 ,157));#=color.fuchsia,transp=70) AssignPriceColor(if !BarColor then Color.CURRENT else if bankerentry then Color.CYAN else if bankerExit then Color.MAGENTA else if WeakDn then Color.DARK_RED else if DnCandle then Color.RED else if WeakUp then Color.DARK_GREEN else if UpCandle then Color.GREEN else Color.CURRENT); #---- END CODE
Very intriguing!
What's the primary change in this latest update? Does it have a "Short" signal?
I realize this is a lower study; however, on the original post there appears to be a cyan colored confirmation candle on the top chart. Is that from another study? I am not getting that on my chart.
Thank you