Good evening, here I am again: over the weekend, I came across an interesting indicator on TW called "FRAMA CHANNEL," and I’ve included both the page link and the code below. As always, thank you in advance for your help in converting it for PRT.
https://www.tradingview.com/script/hskyfPWP-FRAMA-Channel-BigBeluga/
// This work is licensed under Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International
// https://creativecommons.org/licenses/by-nc-sa/4.0/
// © BigBeluga
//@version=5
indicator("FRAMA Channel [BigBeluga]", overlay=true, max_labels_count = 500)
// ＩＮＰＵＴＳ --------------------------------------------------------------------------------------------------------{
// User Inputs for FRAMA Channel
int N = input.int (26, title="Length", minval=2, step = 2, group = "Channel") // Length for FRAMA calculation
float distance = input.float (1.5, "Bands Distance", step = 0.01, minval = 0.3, group = "Channel") // Distance for channel bands
string price_vol = input.string("Price", "Signals Data", ["Price", "Average Volume"]) // Source data for signals
string labl_size = input.string("Small", "Lables Size", ["Small", "Normal", "Large"])
// Colors
group = "Colors"
color color1 = input.color(#27e27b, "Momentum Up", group = group, inline = "1") // Color for upward momentum
color color2 = input.color(color.rgb(39, 114, 226), "Down", group = group, inline = "1") // Color for downward momentum
color color3 = input.color(#a2b5ca, "Neutral", group = group) // Color for neutral state
var color color = color(na) // Variable to hold the current color
bool candles = input.bool (true, "Color Candles") // Toggle for coloring candles based on momentum
// Source for FRAMA calculation
series float price = hl2 // Use hl2 as the default source
// Variables for FRAMA calculation
var float Filt = na
var float Filt1 = na
var float Filt2 = na
var int count1 = na
var int count2 = na
// }
// UDTs----------------------------------------------------------------------------------------------------------------{
// Define a user-defined type (UDT) to store variables used in FRAMA calculation
type vars
float N1
float N2
float N3
float HH
float LL
float Dimen
float alpha
// Initialize UDT instance
v = vars.new(0., 0., 0., 0., 0., 0., 0.)
// }
// ＣＡＬＣＵＬＡＴＩＯＮＳ----------------------------------------------------------------------------------------------{
// Perform calculations for the FRAMA Channel
series float volatility = ta.sma(high - low, 200) // Calculate volatility using the average true range
series float p_vol = switch price_vol // Select the data source for signals (Price or Average Volume)
"Price" => close
"Average Volume" => math.round(math.sum(volume, 10) / 10, 2)
// Calculate N3 for the fractal dimension
v.N3 := (ta.highest(high, N) - ta.lowest(low, N)) / N
// Loop to calculate N1
v.HH := high
v.LL := low
for count = 0 to N / 2 - 1
if high[count] > v.HH
v.HH := high[count]
if low[count] < v.LL
v.LL := low[count]
v.N1 := (v.HH - v.LL) / (N / 2)
// Loop to calculate N2
v.HH := high[N / 2]
v.LL := low[N / 2]
for count = N / 2 to N - 1
if high[count] > v.HH
v.HH := high[count]
if low[count] < v.LL
v.LL := low[count]
v.N2 := (v.HH - v.LL) / (N / 2)
// Calculate the fractal dimension
if (v.N1 > 0 and v.N2 > 0 and v.N3 > 0)
v.Dimen := (math.log(v.N1 + v.N2) - math.log(v.N3)) / math.log(2)
// Calculate alpha for FRAMA
v.alpha := math.exp(-4.6 * (v.Dimen - 1))
v.alpha := math.max(math.min(v.alpha, 1), 0.01) // Clamp alpha between 0.01 and 1
// Calculate the FRAMA filtered value
Filt := na(Filt)
? price
: v.alpha * price + (1 - v.alpha) * Filt[1]
Filt := ta.sma((bar_index < N + 1) ? price : Filt, 5) // Apply SMA for smoothing
// Calculate the channel bands
Filt1 := Filt + volatility * distance
Filt2 := Filt - volatility * distance
// }
// ＰＬＯＴ-------------------------------------------------------------------------------------------------------------{
// Define conditions for plotting and coloring
break_up = ta.crossover(hlc3, Filt1) and barstate.isconfirmed
break_dn = ta.crossunder(hlc3, Filt2) and barstate.isconfirmed
if ta.cross(close, Filt)
color := color3 // Neutral color
// Determine the color based on breakout conditions
switch
break_up => color := color1 // Upward breakout
break_dn => color := color2 // Downward breakout
// Set candle color if enabled
color color_c = candles ? color : na
// Plot the FRAMA and bands
p0 = plot(Filt, color = color.new(color,color == color3 ? 100 : 50), editable = false)
p1 = plot(Filt1, color = color.new(color,20), linewidth = 1, editable = false)
p2 = plot(Filt2, color = color.new(color,20), linewidth = 1, editable = false)
// Fill the area between the bands and FRAMA
fill(p1, p0, Filt1, Filt, color.new(color, candles ? 95 : 85), na, editable = false)
fill(p0, p2, Filt, Filt2, na, color.new(color, candles ? 95 : 85), editable = false)
size = switch labl_size
"Small" => size.small
"Normal" => size.normal
"Large" => size.large
// Add labels on breakout events
if break_up
count2 := 0
count1 += 1
if count1 == 1
label.new(
x = bar_index,
y = Filt2,
text = "🢁n" + str.tostring(p_vol),
style = label.style_label_up,
textcolor = color1,
color = color(na),
size = size
)
if break_dn
count1 := 0
count2 += 1
if count2 == 1
label.new(
x = bar_index,
y = Filt1,
text = str.tostring(p_vol) + "n🢃",
style = label.style_label_down,
textcolor = color2,
color = color(na),
size = size
)
// Plot candles with the calculated colors
plotcandle(
open, high, low, close,
"Candles",
color_c,
color_c,
bordercolor = color_c,
editable = false
)
// }
