# UCS_Transactional Valuation Index-Version 2

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627
Version 1 -

Better Optimization on the levels.
Plotting only the important Highs and Lows

The extremes can be an important pivot levels.

Over and Undervalue - Gray (Column - close) (Histogram - High/Low)
Extreme conditions - Red

// Created by UCSgears, Inspired from the Value Bands published recently
// Also Inspired from the Hubert Senters "Death of Fundamentals" Webinar

study(title="UCS_Transaction Value Index", shorttitle="UCS_TVI", overlay=false)
// INPUT
lbl = input(5, minval=1, title="Look Back Period Length")
sd = input(0.2, minval=0.1, title = "Zone Multiplier")

// Transaction Value Index
tvic = ((close-(sma(close,lbl)))/sma(tr,lbl))/sd
tvih = ((high-(sma(close,lbl)))/sma(tr,lbl))/sd
ptvih = tvih > 4.5 ? tvih:na
tvil = ((low-(sma(close,lbl)))/sma(tr,lbl))/sd
ptvil = tvil < -4.5 ? tvil:na

//
color1= ptvil < -4 and ptvil > -8 ? gray : ptvil < -8 ? red:na
color2= ptvih > 4 and ptvih < 8 ? gray : ptvih > 8 ? red:na

// Horizontal Lines for Zone Seperation
h0=hline(0, "Zero Line", gray, solid, 1)
h1=hline(+4, "Fair Value Top", green, solid, 1)
h2=hline(-4, "Fair Value Bottom", green, solid, 1)
h3=hline(+8, "Over Value", orange, solid, 1)
h4=hline(-8, "Under Value", orange, solid, 1)
h5=hline(+12,"Extremely Over Value", red, solid, 1)
h6=hline(-12,"Extremely Under Value", red, solid, 1)

fill(h1,h2, green, 90, "Fair Value Zone")
fill(h1,h3, orange, 90, "Over Value Zone")
fill(h3,h5, red, 90, "Extremely Over Value Zone")
fill(h2,h4, orange, 90, "Under Value Zone")
fill(h4,h6, red, 90, "Extremely Under Value Zone")
// TVI for High, Low and Close

color3 = (tvic > 4 and tvic < 8) or (tvic < -4 and tvic > -8) ? gray : (tvic > 8 or tvic < -8) ? red : aqua

plot(ptvih, color=color2, title = "TVI - High", style=histogram, linewidth = 2)
plot(ptvil, color=color1, title = "TVI - Low", style=histogram, linewidth = 2)
plot(tvic, color=color3, title = "TVI - Close", style = columns, transp = 0)
From Back testing, Red Columns are really a strong reversal points, Indicating sustained trading to one direction and excitement or panic - For example and Most interestingly, if it overlaps with the Shaved Bars .
Cevap Gönder