point system index, for test only
study(title="[RS]Point System Index", shorttitle="[RS]PSI") range = 50 length1 = 6 length2 = 12 length3 = 24 pm = 2 pip = 0.0001 * close margin = pip*pm track = //isUp close - open > margin * 10 ? 10 : close - open > margin * 8 ? 8 : close - open > margin * 6 ? 6 : close - open > margin * 4 ? 4 : close - open > margin * 2 ? 2 : close - open > margin * 1 ? 1 : //isDown open - close > margin * 10 ? -10 : open - close > margin * 8 ? -8 : open - close > margin * 6 ? -6 : open - close > margin * 4 ? -4 : open - close > margin * 2 ? -2 : open - close > margin * 1 ? -1 : 0 track1 = //weight size of wick down on up candles close > open and open - low > margin * 10 ? -5 : close > open and open - low > margin * 8 ? -4 : close > open and open - low > margin * 6 ? -3 : close > open and open - low > margin * 4 ? -2 : close > open and open - low > margin * 2 ? -1 : close > open and open - low > margin * 1 ? -0 : //weight size of wick up on down candles open < close and high - close > margin * 10 ? 5 : open < close and high - close > margin * 8 ? 4 : open < close and high - close > margin * 6 ? 3 : open < close and high - close > margin * 4 ? 2 : open < close and high - close > margin * 2 ? 1 : open < close and high - close > margin * 1 ? 0 : 0 tr1 = round(sum(track+track1, range)) ma1 = wma(round(tr1), length1) ma2 = wma(round(ma1), length2) ma3 = wma(round(ma2), length3) c1 = ma1 > tr1 ? red : green c2 = ma2 > ma1 ? red : green c3 = ma3 > ma2 ? red : green plot(tr1, color=green) plot(ma1, color=c1) plot(ma2, color=c2) plot(ma3, color=c3) hline(0)