trading.kay27

Kay_BBandsV3

This is the 3rd version of Kay_BBands.

When +DI (Directional Index ) is above -DI , then Upper band will be visible and vice-versa.
This is when the ADX is above the threshold. 28 is the default in this version. I found its more appealing in 5M time frame.

BLUE - ADX under 10
GREEN - Uptrend, ADX over 10
RED - Downtrend, ADX over 10

Use it with another band with setting 20, 0.6 deviation. Prices keeping above or below the 2nd bands upper or lower bounds shows trending conditions.

I didn't know how to update the old script so published it again.
Changes - :
1) Updated default settings for the indicator
2) ADX setting are now DI (28), ADX (10), adx level to check is 10.
3) IMPORTANT one - When DI is up/down, lower/upper band will also have color (more visible that way.)

Play around the settings.. It really eliminates extra indicator checking visually... Please like if you think idea is good.
Favori Komutlardan Çıkart Favori Komutlara Ekle
//version=2
//2nd version of the band
study(shorttitle="Kay_BBv3", title="Kay_BBandsV3", overlay=true)
length = input(20, minval=1)
hl = input(false, title="Band source as high/low ?", type=bool)
Usrc = hl ? high : close // input(high/Low, title="Upper Src")
Lsrc = hl ? low : close //input(low, title="Lower Src")
mult = input(2.0, minval=0.001, maxval=50)
basis = input(false, title="Use EMA ?", type=bool) ? ema(close, length) : sma(close, length)
isU = close > basis
isD = close < basis

//2 diviation
upperB = basis + (mult * stdev(Usrc, length))
lowerB = basis - (mult * stdev(Lsrc, length))

//1 Diviation
upperB1 = basis + ((mult/2) * stdev(Usrc, length))
lowerB1 = basis - ((mult/2) * stdev(Lsrc, length))

//upper = isU and highest(Usrc, length) == Usrc ? upperB : upperB < fixnan(upper[1]) ? upperB : fixnan(upper[1])
//lower = isD and lowest(Lsrc, length) == Lsrc ? lowerB : lowerB > fixnan(lower[1]) ? lowerB : fixnan(lower[1])

//Adx
adxlen = input(10, title="ADX Smoothing")
dilen = input(28, title="DI Length")
dirmov(len) =>
	up = change(high)
	down = -change(low)
	truerange = rma(tr, len)
	plus = fixnan(100 * rma(up > down and up > 0 ? up : 0, len) / truerange)
	minus = fixnan(100 * rma(down > up and down > 0 ? down : 0, len) / truerange)
	[plus, minus]

adx(dilen, adxlen) => 
	[plus, minus] = dirmov(dilen)
	sum = plus + minus
	adx = 100 * rma(abs(plus - minus) / (sum == 0 ? 1 : sum), adxlen)

[plus1, minus1] = dirmov(dilen)
sig = adx(dilen, adxlen)
level = input(10, title="ADX level", minval = 1)

plot(basis, color=sig > level ? red : blue, title="BB Basis")
//p1 = plot(upper, color=black, title="BB Upper modified", transp=0)
//p2 = plot(lower, color=black, title="BB Lower modified", transp=0)
//fill(p1, p2, color=blue, transp=90, title="Modified")

p1 = plot(upperB, color=sig > level ? (plus1 > minus1 ? #00C600 : #7D7D7D) : blue, title="BB Upper", transp=0)
p2 = plot(lowerB, color=sig > level ? (plus1 < minus1 ? #FF0000 : #7D7D7D) : blue, title="BB Lower", transp=0)
fill(p1, p2, color=blue, transp=95, title="Background")

p3 = plot(upperB1, color=sig > level ? (plus1 > minus1 ? #00C600 : #7D7D7D) : blue, title="BB Upper", transp=0)
p4 = plot(lowerB1, color=sig > level ? (plus1 < minus1 ? #FF0000 : #7D7D7D) : blue, title="BB Lower", transp=0)
fill(p3, p4, color=red, transp=95, title="Background")

NICE CODING SKILLS.. I wish I knew how to code.. how can I learn coding..
Cevap Gönder
Looks great! I'll try this indicator
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