Trend Signal conversion from TradingView
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https://www.tradingview.com/script/WVFF2bZZ-4X-Global-Trend-Signal/
An interesting indicator, based upon cross of simulated obliques trendlines to provide entry signals.
Hope Nicolas could use his magic once again…
description from its author:
When all of the sources confirm a trend (based on my criteria), the indicator draws a ‘buy’ or ‘sell’ label on the chart. This is a very simple indicator to use and it’s darn accurate. I may automate it at some point.
This indicator does NOT repaint, but it will flash on/off during the current bar until it closes. Do NOT enter a trade until the current bar closes with a signal. You enter at the open of the succeeding candle (i.e. the candle immediately after the signal candle).
There is only one variable to adjust; ‘Risk’. When you increase the Risk variable, you are increasing your trading risk because the indicator will not respond as fast. However, I have found that higher settings filter out the noise better.
For me, the sweet spot seems to be on the 30 minute chart with a Risk value of ’24’. If you find additional ‘sweet spots’ for this indicator
//@version=2 study("Trend Signal", overlay=true) RISK= input(title="RISK", type=integer, defval=14) value10=3+RISK*2 value11=value10 x1=67+RISK x2=33-RISK range(length) => sum = 0 for i = 1 to length-1 sum := sum + abs(high[i]-low[i]) sum / length MRO1(length, range) => true_count = 0 counter = 0 for i = 1 to length-1 x = if abs(open[i]-close[i+1]) >= range*2.0 true_count := true_count + 1 counter = i break mro = if true_count >= 1 counter else -1 mro MRO2(length, range) => true_count = 0 counter = 0 for i = 1 to length-1 x = if abs(close[i+3]-close[i]) >= range*4.6 true_count := true_count + 1 counter = i break mro = if true_count >= 1 counter else -1 mro wpr(length) => upper = highest(length) lower = lowest(length) out = 100 * (close - upper) / (upper - lower) out rng = range(10) mro1=MRO1(10,rng) mro2=MRO2(7,rng) rez = if mro1>-1 3 else value10 value11:=rez rez1 = if mro2>-1 4 else value10 value11:=rez1 value2 = 100-abs(wpr(value10)) Table_value2=value2 notset=false ii1 = 1 for i1 = 1 to 300 if ((Table_value2[i1] < x2 or Table_value2[i1] > x1) and notset==false) notset:=true ii1 := i1 z=Table_value2[ii1] up = if value2 < x2 if Table_value2[ii1] > x1 ii1 else 0 else 0 plotshape(up, style=shape.labeldown, location=location.abovebar, size=size.normal, color=aqua, text="Sell") dn = if value2 > x1 if Table_value2[ii1] < x2 ii1 else 0 else 0 plotshape(dn, style=shape.labelup, location=location.belowbar, size=size.normal, color=aqua, text="Buy") //plotshape(Table_value2, style=shape.arrowdown, location=location.bottom, color=white) //plotshape(ii1, style=shape.arrowdown, location=location.bottom, color=white) //plotshape(x1, style=shape.arrowdown, location=location.bottom, color=white) //plotshape(x2, style=shape.arrowdown, location=location.bottom, color=white) //plotshape(value11, style=shape.arrowdown, location=location.bottom, color=white) //plotshape(z, style=shape.arrowdown, location=location.bottom, color=white)What a mess this code is! most of the code isn’t useful.. and the other part is full of bugs :/ (that I fixed).. Anyway here is the translation:
RISK= 14 //value10=3+RISK*2 //value11=value10 x1=67+RISK x2=33-RISK //range function rnglength = 10 rngsum=summation[rnglength](abs(high-low)) irange=rngsum / rnglength //MRO1 function truecount = 0 counter = 0 length=10 for i = 1 to length-1 do if abs(open[i]-close[i+1]) >= irange*2.0 then truecount = truecount + 1 counter = i break endif next if truecount >= 1 then mro1=counter else mro1=-1 endif //MRO2 function truecount = 0 counter = 0 length=7 for i = 1 to length-1 do if abs(close[i+3]-close[i]) >= irange*4.6 then truecount = truecount + 1 counter = i break endif next if truecount >= 1 then mro2=counter else mro2=-1 endif wpr = Williams[10](close) if mro1>-1 then //rez=3 else //rez=value10 endif //value11=rez if mro2>-1 then //rez1=4 else //rez1=value10 endif //value11=rez1 value2 = 100-abs(wpr) Tablevalue2=value2 notset=0//false ii1 = 1 for i1 = 1 to 300 do if ((Tablevalue2[i1] < x2 or Tablevalue2[i1] > x1) and notset=0) then notset=1//true ii1 = i1 break endif next //z=Tablevalue2[ii1] if value2 < x2 then if Tablevalue2[ii1] > x1 then up = ii1 else up =0 endif else up=0 endif atr=AverageTrueRange[14](close) if up then drawarrowdown(barindex[ii1],high[ii1]+atr) coloured(255,0,0) //drawtext("#ii1#",barindex[ii1],high[ii1],dialog,standard,20) endif if value2 > x1 then if Tablevalue2[ii1] < x2 then dn=ii1 else dn=0 endif else dn=0 endif if dn then drawarrowup(barindex[ii1],low[ii1]-atr) coloured(0,255,0) endif returnAlgoAlex thanked this post
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Topic Details
| Forum: | ProBuilder: Indicators & Custom Tools |
| Language: | English |
| Started: | 09/02/2019 |
| Status: | Active |
| Attachments: | 2 files |
