I’m amazed with and all his indicators. But after coding a TD_Sequential script, I began to wonder if there wasn’t an easier way to identify high probability entry/exit points without all the intricate logic. It took awhile, but a different paradigm eventually came into focus: Fuzzy Fib Counts (FFC).
FFC is like “analog” compared to TD_Sequential’s “digital” approach. And FFC is much simpler: no buy/sell/perfected/deferred signals, just up/down counts. It’s uncanny how often a trend is refocused at Fibonacci numbers, but like TD_Sequential… it’s not perfect! As with all indicators, consult your intuition, before pulling the trigger.
The default values have been effective for me in Bitcoin (and I’m surprised how well it works in smaller time frames). However, for less volatile markets, you may need to reduce the fuzz level and/or adjust the filter (averaging) parameters.
FFC has been helpful to me. Hope it helps you too! If so, donations appreciated… Thanks!
Looking for trailblazers to help explore new possibilities… Add constructive comments below!
TradingView changed something in the Pine scripting language that prevented the old code from working. Altered the logic in the filter function to get it working again.
I am grateful for your support. You’re the best!
(abbreviated due to post length restrictions)
// Setups, last
// Plot Setup up/down counts
countUp = 0
countUp := close > close ? nz(countUp)+1 <= SetupBars ? nz(countUp)+1 : 1 : 0
plotchar(SetupShowCount?(countUp==1?true:na):na, title="Setup Count Up 1", char="1", color=scupColor, location=scupLoc, size=scupSize, transp=Transp, editable=PlotEditEnable, show_last=scpShowLast)
plotchar(SetupShowCount?(countUp==10?true:na):na, title="Setup Count Up 10", char="A", color=scupColor, location=scupLoc, size=scupSize, transp=Transp, editable=PlotEditEnable, show_last=scpShowLast)
countDn = 0
countDn := close < close ? nz(countDn)+1 <= SetupBars ? nz(countDn)+1 : 1 : 0
plotchar(SetupShowCount?(countDn==1?true:na):na, title="Setup Count Down 1", char="1", color=scdpColor, location=scdpLoc, size=scdpSize, transp=Transp, editable=PlotEditEnable, show_last=scpShowLast)
plotchar(SetupShowCount?(countDn==10?true:na):na, title="Setup Count Down 10", char="A", color=scdpColor, location=scdpLoc, size=scdpSize, transp=Transp, editable=PlotEditEnable, show_last=scpShowLast)
The TD Seq is coded this way by design. There is a user input call "Setup: Bars" which defines the number of counts in a Setup. If set > 9, then characters appear (A, B... up to D, or 13 setup bars). Regardless of how many "Setup: Bars" are defined, an up/down trend can continue well past the Setup and when this happens, diamonds (instead of numbers/characters) are printed. When price finally flips, a new setup count begins at 1. The yellow diamond appears when a setup is perfected, which can be deferred... or happen well after the Setup.
If I'm not understanding your concern, let's pick this up in the TD Sequential indicator comments...
For an alert, TradingView is using the plotting section of the FFC pine script above (lines 174-264) as the list of conditions to choose from.
Here's the alert conditions I tried:
once per bar
The "shape" selected represents the count up or count down in the sequence. So if you want to fire an alert on count up = 8, select the eighth shape from the top of the list. The first 19 shapes in the list are the individual counts up (green).
If you want to fire an alert on count down (red) = 5, select the 24th shape from the top of the list, which is the 5th shape after the "Group 1 Bar, Cnt Up" condition.
Again, reference the plotting section of the pine script to understand which "shape" you're selecting. The other alert condition parameters are saying: if this shape is present, than fire an alarm, each time it appears.
If you figure out a better way to fire alerts, please comment. Thanks!