declare lower;
input paramSet = 2;
input MAType = AverageType.EXPONENTIAL;
# parameter sets
def a = if paramSet == 1 then 8
else if paramSet == 2 then 13
else if paramSet == 3 then 21
else 34;
def b = if paramSet == 1 then 5
else if paramSet == 2 then 8
else if paramSet == 3 then 13
else 21;
def c = if paramSet == 1 then 3
else if paramSet == 2 then 5
else if paramSet == 3 then 8
else 13;
def d = if paramSet == 1 then 3
else if paramSet == 2 then 5
else if paramSet == 3 then 8
else 13;
# debug
# AddLabel(visible = Yes, text = "a=" + a + " b=" + b + " c=" + c + " d=" + d, color = Color.WHITE);
# logic
def storsi = 100 * ((rsi(a) - lowest(rsi(a), b))) / (highest(rsi(a), b) - lowest(rsi(a), b));
# main plots
plot dtosck = MovingAverage(MAType, storsi, c);
dtosck.SetDefaultColor(color.red);
dtosck.setLineWeight(1);
plot dtoscd = MovingAverage(MAType, dtosck, d);
dtoscd.SetDefaultColor(color.cyan);
dtoscd.setLineWeight(1);
# indicator lines cross - reversal
def bullish = dtosck crosses above dtoscd;
def bearish = dtosck crosses below dtoscd;
plot bullishArrow = if bullish then dtoscd else double.NaN;
bullishArrow.SetDefaultColor(color.white);
bullishArrow.SetLineWeight(5);
bullishArrow.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
plot bearishArrow = if bearish then dtoscd else double.NaN;
bearishArrow.SetDefaultColor(color.white);
bearishArrow.SetLineWeight(5);
bearishArrow.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
# static plots
plot overbought = 75;
overbought.SetDefaultColor(color.light_gray);
overbought.setLineWeight(1);
overbought.hideBubble();
overbought.hideTitle();
plot oversold = 25;
oversold.SetDefaultColor(color.light_gray);
oversold.setLineWeight(1);
oversold.hideBubble();
oversold.hideTitle();
# alerts
alert(bullish, "Bullish cross", alert.bar, sound.ring);
alert(bearish, "Bearish cross", alert.bar, sound.ring);
This is stochastic oscillator where input is RSI. This indicator was mentioned in "High probability trading strategies" book by Robert C. Miner. You can buy this book or download from Academia.edu for free.Hello! Can you explain the indicator? Please, it sound good!
This is stochastic oscillator where input is RSI. This indicator was mentioned in "High probability trading strategies" book by Robert C. Miner. You can buy this book or download from Academia.edu for free.
You are welcome.Great! Im reading the book. "A trade execution may be made following a smaller time
frame momentum reversal in the direction of the larger time frame momentum
trend."
Very good indicator you got it. I appreciated too much.
Did you ever think about and indicator of a overlapping of momentum with this indicator? (Arrows with a trend) It would be work too good with swingarms.You are welcome.
Could you explain your idea in more details ?Did you ever think about and indicator of a overlapping of momentum with this indicator? (Arrows with a trend) It would be work too good with swingarms.
The goal of this study, is to follow a smaller time frame momentum in the direction of the large timeframe momentum. If so, I imagine an indicator showing this situation between two timeframes. For example, a bullish arrow and bearish arrow appear in the study. The indicator that I was thinking is one where if in certain timeframes, the same arrow appears; it would be a buy signal. If and only if, it is above or below the white lines (oversold and overbought).Could you explain your idea in more details ?
I see.The goal of this study, is to follow a smaller time frame momentum in the direction of the large timeframe momentum. If so, I imagine an indicator showing this situation between two timeframes. For example, a bullish arrow and bearish arrow appear in the study. The indicator that I was thinking is one where if in certain timeframes, the same arrow appears; it would be a buy signal. If and only if, it is above or below the white lines (oversold and overbought).
of course!I see.
You have core functionality in script above. Feel free to update it according to your plan.
declare lower;
input paramSet = 2;
input MAType = AverageType.EXPONENTIAL;
input RSIperiod = 8;
input StochPeriod = 5;
input StochSlowing = 3;
input StochSignal = 3;
# debug
# AddLabel(visible = Yes, text = "a=" + a + " b=" + b + " c=" + c + " d=" + d, color = Color.WHITE);
# logic
def storsi = 100 * ((rsi(RSIPeriod) - lowest(rsi(RSIPeriod), StochPeriod))) / (highest(rsi(RSIPeriod), StochPeriod) - lowest(rsi(RSIPeriod), StochPeriod));
# main plots
plot dtosck = MovingAverage(MAType, storsi, StochSlowing);
dtosck.SetDefaultColor(color.red);
dtosck.setLineWeight(1);
plot dtoscd = MovingAverage(MAType, dtosck, StochSignal);
dtoscd.SetDefaultColor(color.cyan);
dtoscd.setLineWeight(1);
# indicator lines cross - reversal
def bullish = dtosck crosses above dtoscd;
def bearish = dtosck crosses below dtoscd;
plot bullishArrow = if bullish then dtoscd else double.NaN;
bullishArrow.SetDefaultColor(color.white);
bullishArrow.SetLineWeight(5);
bullishArrow.SetPaintingStrategy(PaintingStrategy.ARROW_UP);
plot bearishArrow = if bearish then dtoscd else double.NaN;
bearishArrow.SetDefaultColor(color.white);
bearishArrow.SetLineWeight(5);
bearishArrow.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
# static plots
plot overbought = 75;
overbought.SetDefaultColor(color.light_gray);
overbought.setLineWeight(1);
overbought.hideBubble();
overbought.hideTitle();
plot oversold = 25;
oversold.SetDefaultColor(color.light_gray);
oversold.setLineWeight(1);
oversold.hideBubble();
oversold.hideTitle();
# alerts
alert(bullish, "Bullish cross", alert.bar, sound.ring);
alert(bearish, "Bearish cross", alert.bar, sound.ring);