ucsgears

UCS_Top & Bottom Candle

This is an experimental Indicator based on Momentum. Picks the Top & Bottom Candle for most Swing. Please post your opinion or suggestion to improve this indicator.

I have not back tested this completely. This is recently developed Indicator.

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//Short Term Top and Bottom Candle Identifier
//Code by UCSgears

study("UCS_Top & Bottom Candle", shorttitle = "UCS_T&B", overlay=false)

a = input(5, "Percent K Length")
b = input(3, "Percent D Length")

// Range Calculation
ll = lowest (low, a)
hh = highest (high, a)
diff = hh - ll
rdiff = close - (hh+ll)/2

// Nested Moving Average for smoother curves
avgrel = ema(ema(rdiff,b),b)
avgdiff = ema(ema(diff,b),b)

// Momentum
mom = ((close - close[b])/close[b])*1000


// SMI calculations
SMI = avgdiff != 0 ? (avgrel/(avgdiff/2)*100) : 0
SMIsignal = ema(SMI,b)

//All PLOTS
plot(mom, title = "Momentum", style = columns, color = yellow)
plot(SMI, title = "Stochastic Momentum Index")
plot(SMIsignal, color= red, title = "SMI Signal Line")

H1 = hline(40, color = red, title = "Over Bought")
H2 = hline(-40, color = green, title = "Over Sold")
H0 = hline(0, color = blue, title = "Zero Line")
fill(H0,H2, color = green, title = "Oversold")
fill(H0,H1, color = red, title = "Overbought")
//END

// Strategy Signals 
// Buy Setup
long = SMI < -35  and mom > 0 and mom[1] < 0 ? lime : na
barcolor(long)

// Short Setup
short = SMI > 35  and mom < 0 and mom[1] > 0 ? red : na
barcolor(short)
Great job
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Hey can't find the indicator anymore? Only the "overlay" version which is nothing like the original.... :(
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I think its fake to be honest I also have the same issue @HellC,
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HellC Sauljoffe
@Sauljoffe, The only way I can get it to work is by copy/pasting the code into my script box...
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Thanks for this. Been using it for the last while. Its very accurate. Just mix in 5,8,13 MA's and its an animal
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Hej man,

Just want to drop a big thank you for this awesome tool!
Stumbled upon it just a couple of days ago and it's the best thing that happened to me :)
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Version 2 -
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gssidhu90 ucsgears
@ucsgears, Hi there,
Just wanted to know if it repaints if I change it to a strategy?
Thanks
+1 Rispondi
Great indicator, any way you code the arrows into this indicator?
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ucsgears Robbins2
+2 Rispondi
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