Trend Signal conversion from TradingView

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09/02/2019 at 10:23 PM #106287 quote

AlgoAlex

Participant

Master

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)

4X-Global-Trend-Signal.jpg

09/03/2019 at 10:01 AM #106332 quote

Nicolas

Keymaster

Legend

Not the first time you asked for conversion and still don’t respect the rules .. 🙄

Please add pictures of the original indicator when requesting a conversion from another platform! I’ll add it myself to your post.

09/03/2019 at 11:09 AM #106350 quote

AlgoAlex

Participant

Master

Sorry Nicolas, I thought the link was enough…

09/03/2019 at 11:51 AM #106356 quote

Nicolas

Keymaster

Legend

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

return

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