//Trading view Code:
//@version=4
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © ceyhun
//Original Code https://tr.tradingview.com/v/x8ZRlmof/
study("Murrey Math Lines", title="MML", overlay=true)
//-- get inputs
string res1 = input(title="Resolution",type=input.resolution,defval="D")
int frame = input(defval=64, title="Frame Size", type=input.integer, minval=8, maxval=256)
float mult = input(defval=1.5, title="Frame Multiplier", type=input.float, minval=1.0, maxval=2.0, step=0.5)
bool wicks = input(defval=true, title="Ignore Wicks?")
//-- defines
logTen = log(10)
log8 = log(8)
log2 = log(2)
lookback = round(frame * mult)
ss = syminfo.tickerid
string res = res1=="" ? timeframe.period : res1
o = security(ss, res, open)
c = security(ss, res, close)
h = security(ss, res, high)
l = security(ss, res, low)
uPrice = wicks == true ? max(o, c) : h
lPrice = wicks == true ? min(o, c) : l
//-- find highest/lowest price over specified lookback
vLow1 = lowest(lPrice, lookback)
vHigh1 = highest(uPrice, lookback)
vLow = security(ss, res, vLow1)
vHigh = security(ss, res, vHigh1)
vDist = vHigh - vLow
//-- if low price is < 0 then adjust accordingly
tmpHigh = vLow < 0 ? 0 - vLow : vHigh
tmpLow = vLow < 0 ? 0 - vLow - vDist : vLow
//-- determine if price shift is in place
shift = vLow < 0 ? true : false
//-- calculate scale frame
sfVar = log(0.4 * tmpHigh) / logTen - floor(log(0.4 * tmpHigh) / logTen)
SR = tmpHigh > 25 ?
sfVar > 0 ? exp(logTen * (floor(log(0.4 * tmpHigh) / logTen) + 1)) :
exp(logTen * floor(log(0.4 * tmpHigh) / logTen)) :
100 * exp(log8 * floor(log(0.005 * tmpHigh) / log8))
nVar1 = log(SR / (tmpHigh - tmpLow)) / log8
nVar2 = nVar1 - floor(nVar1)
N = nVar1 <= 0 ? 0 : nVar2 == 0 ? floor(nVar1) : floor(nVar1) + 1
//-- calculate scale interval and temporary frame top and bottom
SI = SR * exp(-N * log8)
M = floor(1.0 / log2 * log((tmpHigh - tmpLow) / SI) + 0.0000001)
I = round((tmpHigh + tmpLow) * 0.5 / (SI * exp((M - 1) * log2)))
Bot = (I - 1) * SI * exp((M - 1) * log2)
Top = (I + 1) * SI * exp((M - 1) * log2)
//-- determine if frame shift is required
doShift = tmpHigh - Top > 0.25 * (Top - Bot) or Bot - tmpLow > 0.25 * (Top - Bot)
ER = doShift == true ? 1 : 0
MM = ER == 0 ? M : ER == 1 and M < 2 ? M + 1 : 0
NN = ER == 0 ? N : ER == 1 and M < 2 ? N : N - 1
//-- recalculate scale interval and top and bottom of frame, if necessary
finalSI = ER == 1 ? SR * exp(-NN * log8) : SI
finalI = ER == 1 ? round((tmpHigh + tmpLow) * 0.5 / (finalSI * exp((MM - 1) * log2))) : I
finalBot = ER == 1 ? (finalI - 1) * finalSI * exp((MM - 1) * log2) : Bot
finalTop = ER == 1 ? (finalI + 1) * finalSI * exp((MM - 1) * log2) : Top
//-- determine the increment
Increment = (finalTop - finalBot) / 8
//-- determine the absolute top
absTop = shift == true ? -(finalBot - 3 * Increment) : finalTop + 3 * Increment
//-- create our Murrey line variables based on absolute top and the increment
Plus38 = absTop
Plus28 = absTop - Increment
Plus18 = absTop - 2 * Increment
EightEight = absTop - 3 * Increment
SevenEight = absTop - 4 * Increment
SixEight = absTop - 5 * Increment
FiveEight = absTop - 6 * Increment
FourEight = absTop - 7 * Increment
ThreeEight = absTop - 8 * Increment
TwoEight = absTop - 9 * Increment
OneEight = absTop - 10 * Increment
ZeroEight = absTop - 11 * Increment
Minus18 = absTop - 12 * Increment
Minus28 = absTop - 13 * Increment
Minus38 = absTop - 14 * Increment
//-- plot the lines and we are done
plot(Plus38, title="+3/8 Imminent Bearish reversal", style=plot.style_circles, color=#008000, linewidth=1)
plot(Plus28, title="+2/8 Extreme Overshoot conditions, can reverse anytime", style=plot.style_circles, color=#FF0000, linewidth=1)
plot(Plus18, title="+1/8 Overshoot conditions", style=plot.style_circles, color=#808080, linewidth=1)
plot(EightEight, title="8/8 Ultimate resistance, extremely overbought conditions", style=plot.style_circles, color=#0000FF, linewidth=2)
plot(SevenEight, title="7/8 Weak level, place to stop and reverse", style=plot.style_circles, color=#808080, linewidth=1)
plot(SixEight, title="6/8 Strong pivot reverse", style=plot.style_circles, color=#FF0000, linewidth=1)
plot(FiveEight, title="5/8 Top of trading range", style=plot.style_circles, color=#008000, linewidth=1)
plot(FourEight, title="4/8 Major support/resistance pivot point", style=plot.style_circles, color=#0000FF, linewidth=2)
plot(ThreeEight, title="3/8 Bottom of trading range", style=plot.style_circles, color=#008000, linewidth=1)
plot(TwoEight, title="2/8 Strong, Pivot, reverse", style=plot.style_circles, color=#FF0000, linewidth=1)
plot(OneEight, title="1/8 Weak, place to stop and reverse", style=plot.style_circles, color=#808080, linewidth=1)
plot(ZeroEight, title="0/8 Hardest line to fall below, oversold conditions", style=plot.style_circles, color=#0000FF, linewidth=2)
plot(Minus18, title="-1/8 Oversold conditions", style=plot.style_circles, color=#808080, linewidth=1)
plot(Minus28, title="-2/8 Extreme oversold conditions, can reverse anytime", style=plot.style_circles, color=#FF0000, linewidth=1)
plot(Minus38, title="-3/8 Imminent bullish reversal ", style=plot.style_circles, color=#008000, linewidth=1)
// Function outputs 1 when it's the first bar of the D/W/M/Y
is_newbar(res) =>
ch = 0
if(res == 'Y')
t = year(time('D'))
ch := change(t) != 0 ? 1 : 0
else
t = time(res)
ch := change(t) != 0 ? 1 : 0
ch
////////////
// ALERTS //
ot = crossover(close, Plus38) or crossunder(close, Plus38) or crossover(close, Plus28) or crossunder(close, Plus28) or crossover(close, Plus18) or crossunder(close, Plus18) or crossover(close, EightEight) or crossunder(close, EightEight) or crossover(close, SevenEight) or crossunder(close, SevenEight) or crossover(close, SixEight) or crossunder(close, SixEight) or crossover(close, FiveEight) or crossunder(close, FiveEight) or crossover(close, FourEight) or crossunder(close, FourEight) or crossover(close, ThreeEight) or crossunder(close, ThreeEight) or crossover(close, TwoEight) or crossunder(close, TwoEight) or crossover(close, OneEight) or crossunder(close, OneEight) or crossover(close, ZeroEight) or crossunder(close, ZeroEight) or crossover(close, Minus18) or crossunder(close, Minus18) or crossover(close, Minus28) or crossunder(close, Minus28) or crossover(close, Minus38) or crossunder(close, Minus38)
alertcondition(ot, title="Alert me when Octaves Change!", message="Octaves Change - Alert!")
alertcondition(not is_newbar('D') and crossover(close, Plus38), "Crossover +3/8", "Crossover +3/8")
alertcondition(not is_newbar('D') and crossover(close, Plus28), "Crossover +2/8", "Crossover +2/8")
alertcondition(not is_newbar('D') and crossover(close, Plus18), "Crossover +1/8", "Crossover +1/8")
alertcondition(not is_newbar('D') and crossover(close, EightEight), "Crossover 8/8", "Crossover 8/8")
alertcondition(not is_newbar('D') and crossover(close, SevenEight), "Crossover 7/8", "Crossover 7/8")
alertcondition(not is_newbar('D') and crossover(close, SixEight), "Crossover 6/8", "Crossover 6/8")
alertcondition(not is_newbar('D') and crossover(close, FiveEight), "Crossover 5/8", "Crossover 5/8")
alertcondition(not is_newbar('D') and crossover(close, FourEight), "Crossover 4/8", "Crossover 4/8")
alertcondition(not is_newbar('D') and crossover(close, ThreeEight), "Crossover 3/8", "Crossover 3/8")
alertcondition(not is_newbar('D') and crossover(close, TwoEight), "Crossover 2/8", "Crossover 2/8")
alertcondition(not is_newbar('D') and crossover(close, OneEight), "Crossover 1/8", "Crossover 1/8")
alertcondition(not is_newbar('D') and crossover(close, ZeroEight), "Crossover 0/8", "Crossover 0/8")
alertcondition(not is_newbar('D') and crossover(close, Minus18), "Crossover -1/8", "Crossover -1/8")
alertcondition(not is_newbar('D') and crossover(close, Minus28), "Crossover -2/8", "Crossover -2/8")
alertcondition(not is_newbar('D') and crossover(close, Minus38), "Crossover -3/8", "Crossover -3/8")
alertcondition(not is_newbar('D') and crossunder(close, Plus38), "Crossunder +3/8", "Crossunder +3/8")
alertcondition(not is_newbar('D') and crossunder(close, Plus28), "Crossunder +2/8", "Crossunder +2/8")
alertcondition(not is_newbar('D') and crossunder(close, Plus18), "Crossunder +1/8", "Crossunder +1/8")
alertcondition(not is_newbar('D') and crossunder(close, EightEight), "Crossunder 8/8", "Crossunder 8/8")
alertcondition(not is_newbar('D') and crossunder(close, SevenEight), "Crossunder 7/8", "Crossunder 7/8")
alertcondition(not is_newbar('D') and crossunder(close, SixEight), "Crossunder 6/8", "Crossunder 6/8")
alertcondition(not is_newbar('D') and crossunder(close, FiveEight), "Crossunder 5/8", "Crossunder 5/8")
alertcondition(not is_newbar('D') and crossunder(close, ThreeEight), "Crossunder 4/8", "Crossunder 4/8")
alertcondition(not is_newbar('D') and crossunder(close, FourEight), "Crossunder 3/8", "Crossunder 3/8")
alertcondition(not is_newbar('D') and crossunder(close, TwoEight), "Crossunder 2/8", "Crossunder 2/8")
alertcondition(not is_newbar('D') and crossunder(close, OneEight), "Crossunder 1/8", "Crossunder 1/8")
alertcondition(not is_newbar('D') and crossunder(close, ZeroEight), "Crossunder 0/8", "Crossunder 0/8")
alertcondition(not is_newbar('D') and crossunder(close, Minus18), "Crossunder -1/8", "Crossunder -1/8")
alertcondition(not is_newbar('D') and crossunder(close, Minus28), "Crossunder -2/8", "Crossunder -2/8")
alertcondition(not is_newbar('D') and crossunder(close, Minus38), "Crossunder -3/8", "Crossunder -3/8")
.
