HighLow Adaptive Momentum Cycle
Here is a new oscillator made of a cycle calculation of the median price calculated from the highest high and lowest low of the last x periods.
An adaptive period formula can be activated to calculate the “best” period of the hi/lo channel because of market noises.
I added 4 different returned buffers to identify when the oscillator is increasing or declining above of below the 0 level which represent the bull/bear side of the market.
// parameters
// myPeriod = 21
// Adaptive = 1 //boolean
once f = 0
once g = 0
if barindex>myPeriod then
//adaptive period
averagePeriod = myPeriod
if adaptive=1 and averagePeriod > 1 then
price = medianprice
minPeriod = round(averagePeriod/2.0)
maxPeriod = minPeriod*5.0
endPeriod = round(maxPeriod)
signal = Abs((price-stored[endPeriod]))
noise = 0.00000000001
for k=1 to endPeriod do
noise=noise+Abs(price-stored[k])
averagePeriod = round(((signal/noise)*(maxPeriod-minPeriod))+minPeriod)
next
endif
stored=price
averageperiod=max(averageperiod,2)
myHigh = Highest[abs(averagePeriod)](high)
myLow = Lowest[abs(averagePeriod)](Low)
mean = (High + Low) / 2.0
myVAR1 = 0.66 * ((mean - myLow) / (myHigh - myLow) - 0.5) + 0.67 * f
myVAR1 = Min(Max(myVAR1, -0.999), 0.999)
fxhilo = Log((myVAR1 + 1.0) / (1 - myVAR1)) / 2.0 + g / 2.0 //main line
f = myVAR1
g = fxhilo
if fxhilo>fxhilo[1] and fxhilo>0 then
plusone = fxhilo
plustwo = 0
minusone = 0
minustwo = 0
elsif fxhilo<fxhilo[1] and fxhilo>0 then
plusone = 0
plustwo = fxhilo
minusone = 0
minustwo = 0
elsif fxhilo>fxhilo[1] and fxhilo<0 then
plusone = 0
plustwo = 0
minusone = fxhilo
minustwo =0
elsif fxhilo<fxhilo[1] and fxhilo<0 then
plusone = 0
plustwo = 0
minusone = 0
minustwo = fxhilo
endif
endif
RETURN plusone coloured(0,255,0), plustwo coloured(0,155,0), minusone coloured(150,0,0), minustwo coloured(255,0,0), 0 as "0 level"
Comments
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Dear Nicolas,
'Reading' the 'output' of the indicator, it seems to me that there are no 'crossings'. The plustwo finshed at the zero line in case of bearing direction, the minustwo also in case of bullish direction. That's why I thought to create a screener where the one (for example: minustwo finished at zero line and the plustwo 'take it over'. That simulates for me a 'crossing'. Because in my opinion thre are no real crossings, I thought I would solve it by 'greater than' (in bullish case) or 'less than' ( in bearish case) operators. The remaining variables I thought would turn off with the 'REM' command or use the 'ignored' construction. De with the 'Ignored' command fails and the option with the 'REM' gives no results in the screener.
Please, see script below.
Adaptive = 1
myPeriod = 14
once f = 0
once g = 0
if barindex>myPeriod then
//adaptive period
averagePeriod = myPeriod
if adaptive=1 and averagePeriod > 1 then
price = medianprice
minPeriod = round(averagePeriod/2.0)
maxPeriod = minPeriod*5.0
endPeriod = round(maxPeriod)
signal = Abs((price-stored[endPeriod]))
noise = 0.00000000001
for k=1 to endPeriod do
noise=noise+Abs(price-stored[k])
averagePeriod = round(((signal/noise)*(maxPeriod-minPeriod))+minPeriod)
next
endif
stored=price
averageperiod=max(averageperiod,2)
myHigh = Highest[abs(averagePeriod)](high)
myLow = Lowest[abs(averagePeriod)](Low)
mean = (High + Low) / 2.0
myVAR1 = 0.66 * ((mean - myLow) / (myHigh - myLow) - 0.5) + 0.67 * f
myVAR1 = Min(Max(myVAR1, -0.999), 0.999)
fxhilo = Log((myVAR1 + 1.0) / (1 - myVAR1)) / 2.0 + g / 2.0 //main line
f = myVAR1
g = fxhilo
if fxhilo>fxhilo[1] and fxhilo>0 then
REM plusone = fxhilo
REM plustwo = 0
REM minusone = 0
minustwo = 0
elsif fxhilo<fxhilo[1] and fxhilo>0 then
REM plusone = 0
REM plustwo = fxhilo
REM minusone = 0
minustwo = 0
elsif fxhilo>fxhilo[1] and fxhilo<0 then
REM plusone = 0
REM plustwo = 0
REM minusone = fxhilo
minustwo =0
elsif fxhilo<fxhilo[1] and fxhilo<0 then
REM plusone = 0
REM plustwo = 0
REM minusone = 0
minustwo = fxhilo
endif
endif
// Bullish Sign
If MinusTwo < minusTwo[1] OR MinusTwo[1] < minusTwo[2]Then
Criteria = 110
EndIf
Screener [Criteria] (Criteria AS "MinusLow")
I've tried to upload a sceenprint as example, but that was refused by this text editor.
So far my problem.
Kind regards,
Gerard
Sorry, it has needed a lot more customisation of the indicator's code to get a relevant screener. This code should work (worked for me on a daily timeframe for NASDAQ stocks for instance)
// parameters myPeriod = 21 Adaptive = 1 //boolean once f = 0 once g = 0 //adaptive period averagePeriod = myPeriod if adaptive=1 and averagePeriod > 1 then price = medianprice minPeriod = round(averagePeriod/2.0) maxPeriod = minPeriod*5.0 endPeriod = round(maxPeriod) signal = Abs((price-stored[endPeriod])) noise = 0.00000000001 mymaxbar = 254-maxPeriod endif if barindex>mymaxbar then if adaptive=1 and averagePeriod > 1 then for k=1 to endPeriod do noise=noise+Abs(price-stored[k]) averagePeriod = round(((signal/noise)*(maxPeriod-minPeriod))+minPeriod) next endif stored=price averageperiod=max(averageperiod,2) myHigh = Highest[abs(averagePeriod)](high) myLow = Lowest[abs(averagePeriod)](Low) mean = (High + Low) / 2.0 myVAR1 = 0.66 * ((mean - myLow) / (myHigh - myLow) - 0.5) + 0.67 * f myVAR1 = Min(Max(myVAR1, -0.999), 0.999) fxhilo = Log((myVAR1 + 1.0) / (1 - myVAR1)) / 2.0 + g / 2.0 //main line f = myVAR1 g = fxhilo endif condition = g crosses over 0 or g crosses under 0 screener[condition]
Dear Nicolas,
First of all, thank you for all your contributions, I always study them with great pleasure. I assume you are the creator of the prc-fxhilo indicator. As an indicator, this indicator is easy to invoke in other indicators. However, in the screening section this does not seem to be the case. Neither as a call function nor in case you use the code directly in a screen builder. Do I miss something or simply can not? Like to hear from you. Sincerely, Gerard
Dear Nicolas,
thnx for your reply! In your answer you said: 'It should not be a problem to use it in a stock screener'. I am afraid that the problem my 'use direction' is. In other words: I tried to use the indicator in a forex screener. The second possibility cause of the problem is maybe that I only use the minustwo and the plustwo lines. The other signals are 'ignored'. Should that possible the problem? Kind regards, Gerard
Comme un nombre incalculable d'autres indicateurs codés deci delà, je compte sur d'autres pour les tester et en profiter. Si j'ai eu l'idée de faire cet indicateur à l'époque et de le poster ici, c'est qu'il m'a semblé assez signicatif pour être utilisé. Si tu as des exemples de sa bonne utilisation selon ta propre interprétation, ça m'intéresse d'en discuter :)
Hi!! this is a great indicador, which I regularly use on PRT. However, I'd love to have it on TradingView too, is there any chance it can be converted? Thanks!