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SSL Channel
September 9, 2019, 8:34 AM
Indicators
7 Comments
I found this indicator on TradingView, and I thought could be interesting.
I added arrows at the crossovers of the two signal lines.
It is a kind of Hi/Lo activator of a channel formed by 2 MA applied to High and Low price series.
//coded by AlexF//
//////////////////
period = 20
type = 0
smaHigh=Average[period,type](high)
smaLow=Average[period,type](low)
if close>smaHigh then
Hlv=1
elsif close<smaLow then
Hlv=-1
else
Hlv=Hlv[1]
endif
if Hlv<0 then
sslDown=smaHigh
else
sslDown=smaLow
endif
if Hlv<0 then
sslUp=smaLow
else
sslUp=smaHigh
endif
if sslUp crosses over sslDown then
drawarrowup(barindex,low-5*pipsize)coloured(0,255,0)
elsif sslDown crosses over sslUp then
drawarrowdown(barindex,high+5*pipsize)coloured(255,0,0)
endif
return sslUp as "UP", sslDown as "DOWN"
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Filename:
SSL-Channel.itf
Downloads:
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Comments
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7 years ago
https://www.prorealcode.com/topic/ssl-channel/
7 years ago
Yes this was the idea to add some other filter on the basic system. What other filters are you thinking of? I would add them in a multi time frame as well.
7 years ago
Hi AlexF, I tested a simple trading system built from this indicator with a normal %SL and %TP, and SMA10 on 200.000 candles. (M15 and M30) Do you want to see the results?
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