//////////////////////////////////////////////////////////// // Copyright by HPotter v1.0 27/06/2014 // FSST is the another modification of FSK indicator. It uses RSI and SLowK in the calculation. // The FSST is constructed from five different parts. The Kurtosis, the Fast Kurtosis(FK), // the Fast/Slow Kurtosis(FSK), FSRS and Weighted FSRS. //////////////////////////////////////////////////////////// study(title="FSST (Fast and Slow Kurtosis)", shorttitle="FSST (Fast and Slow Kurtosis)") BuyZone = input(0) hline(BuyZone, color=green, linestyle=line) xMOM_R = mom(mom(close, 3), 1) xMOM_RAvr = ema(xMOM_R, 65) xMOM_RWAvr = wma(xMOM_RAvr, 6) xHH = highest(high, 9) xLL = lowest(low, 9) xValue = xHH - xLL FastK = (close - xLL) / xValue * 100 xFastD = nz(xFastD) + (0.5 * (FastK - nz(xFastD))) xFSST = 500 * xMOM_RWAvr + xFastD xFSST_WAvr = wma(xFSST, 9) plot(xFSST, color=blue, title="FSST") plot(xFSST_WAvr, color=red, title="WMAFSST")
I have an idea for an indicator, but do not have the coding skill as you do. My thought is sellers have the most conviction at support where they are trying to sell at lows in fear of missing the sell off and buyers are buying at highs since they too don't want to miss the breakout. This would be a double indicator. One in the form of a tick indicator at the bottom of the charts with 100 being in high ticks (buyers buying in highs) & -100 being low ticks (sellers selling at support in low ticks). The way I would use it, when the market is in a downtrend, say the eurusd, I would only enter when the eurusd pullsback into resistance in high ticks, above 100 When the eurusd is in an uptrend, only enter on a pullback at support in low ticks -100 The second part of the indicator would be painting of the candles, low ticks at -100 or under would paint red and high ticks 100 or over would paint green. Have a great weekend!