Triple Function Indicator
TripleFunctionIndicator (TFI) is meant to be a daytrading system that give good results on a 10 minutes graphic. Especially its a combination of three 3 Indicators namely the SMI The CCI and the RSI indicator. As you can see on the graphic,, even on an overbought situation, given by DemarkIndicator it do work. The classic limits for each indicator are repected.
For SMI +40 and -40
For CCI +100 and -100
For RSI 70 and 30.
Finally each Indicator give 3 results if there is a condition fullfilled or not and none of the two.
The total result is calculated and as only 3 possibilities namely +3 ;+1 ; -1 and -3.
// Parameters for the StochasticMomentumIndicator
n=17
m=5
c1=SMI[14,3,5](close)>40
c11=SMI[14,3,5](close)>-40
// Parameters for the CommodityChannelIndex
c2= CCI[n](typicalPrice)>100
c21=CCI[n](typicalPrice)<-100
//Parameters for the Relative StrenghtIndex
c3=RSI[m](close)>70
c31=RSI[m](close)<30
//Test for each Indicator
if c1 then
ZLS1= 1
elsif c11 then
ZLS1=-1
endif
if c2 then
ZLS2=1
elsif c21 then
ZLS2=-1
endif
If c3 then
ZLS3=1
elsif c31 then
ZLS3=-1
endif
//Summary of the results
TFI = sin(atan(ZLS1+ZLS2+ZLS3))
return TFI as"TripleFunctionIndicator", sin(atan(1)) as"Upper Limit", sin(atan(-1)) as"LowezrLimit"
Comments
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Hello, I would like to comment that observing the logic of the variables of the three indicators, it is likely that in line 5 the result of the SMI variable should be <-40 Perhaps it would also be logical to give a value "0" to ZLS1, ZLS2, ZLS3, when the value of the three indicators is not in the margins defined for +1 or -1
I need help to understand this. When to buy ? When to sell ? How this indicator must look like ? Once I make your code with the indicators i only have lines that i can't understand. Thank you for Sharing and for help
I can understand that it is a little bit confused. Therefore some more explanation: The Indicator is correct (for values 17 for n and 5 for m ) but I have posted the backtest results instead of the indicator vieuw.(sorry) I shall try to post a graphic, that will explaine a lot. In fact TFI is an indicator concist of tree classical indicators, who are testest all three. The result is "Yes" or "No" "Yes" equals (+1 ) No" equals (-1) If all three the indicators are "Yes" , we are in a bull fase and contrairely 3 times "No" is a bearish result. If you take the sine of the arctangent of the result, then the results are: Yes,Yes,Yes (+3) Yes, No Yes (+1) also :(No, Yes, Yes (+1) and Yes, Yes, No(+1) ) No,No,No (-3) Yes,No,No (-1) and so on For the sin(atan( Value) there are only for results: 1) Strong Trend +3 (0.94868) 2)Strong Trend -3 (-0.94868) 3) Minor trend +1 and -1 (0.70711 and -0.70711 resp.) Thats it. For the rest is watch and see.
Good morning, there is no mistake about the shorts c11=SMI[14,3,5](close)>-40