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)

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")

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

// Short Setup
short = SMI > 35  and mom < 0 and mom[1] > 0 ? red : na


Hey do you still use this Indicator or got a better one? Is there a best time frame to use or canare all same accurate, and is there any other toool that could help?
Great job
Hey can't find the indicator anymore? Only the "overlay" version which is nothing like the original.... :(
I think its fake to be honest I also have the same issue @HellC,
HellC Sauljoffe
@Sauljoffe, The only way I can get it to work is by copy/pasting the code into my script box...
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
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 :)
Version 2 -
gssidhu90 ucsgears
@ucsgears, Hi there,
Just wanted to know if it repaints if I change it to a strategy?
+2 Rispondi
Great indicator, any way you code the arrows into this indicator?
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