ucsgears

UCS_Cycle

This indicator was designed to remove trend from price and make it easier to identify cycles.
Although this indicator has similarities to MACD . It is better used to identify the cycle of High and Lows based on the Statistical Data (Default is set to 25).

**** DO NOT USE THIS AS A MOMENTUM INDICATOR ****

As a word of caution the read this - http://bit.ly/1Arjoqp. This is a rip off, if you choose to pay a penny.
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// Created by UCSgears 
// Version 1 - Setting for the Power cycle is not determined yet. This is the concept. 
// Larry Gaines version of Cycle uses Linear Regression

study(title="UCS_Cycle_V1", shorttitle="UCS-Cycle", overlay=false)

// Classic Cycle Indicator uses SMA
UseLinearRegression = input(true)
PlotSignal = input(false)

// The Source can be Based on OHLC4 or HL2
src = (ohlc4)
len = input(25, title="Cycle Length")
smooth = input (8, title = "Signal")
basis = UseLinearRegression ? linreg(src, len, 0) : sma(src,len)

cycle = close - basis
cyclesig = PlotSignal ? ema(cycle,smooth) : 0

plot_color1 = cycle > 0 ? green : red

plot(cycle, color = plot_color1, title = "Linear Regression Curve", style = columns, linewidth = 4)
plot(cyclesig, color = gray, title = "Signal")

//END
// Version 2 will have all the settings for the 3 Power Cycle Bands with Options to Plot them all.
Nice work UCSGEARS ! I prefer the HL2 source, I think it utilizes the meaning of the oscillator better, regression to a mean/median. Thanks for sharing.

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+1 Reply
ucsgears PRO coondawg71
2 years ago
honestly, I was thinking about adding a drop down menu, just like the BB default indicator. I will see if it can be done.
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coondawg71 PRO coondawg71
2 years ago
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Here i offer how I would use the Cycles indicator, divergence bars everywhere if you know how to look for them. The focus on this image is just highlighting the Cycle bars which are counter trend. Reading from left to right we have one Sell, one Buy, one more Buy (short term) as this morphs into a Divergent Breakout and then the Divergent Breakout turns into a Bearish Breakout as the Cycle histogram breaches the low of the previous bearish Cycle low, very clear Sell signal. All based on the most import aspect of this indicator, the Signal line !!! Regression to the mean at its best. Very similar to the Awesome Oscillator with Signal but superior at pinpointing divergent price bars
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ucsgears PRO coondawg71
2 years ago
Nice Details, Good Job. Thanks, Keep it coming.

For new traders, I would like to point out that this is the Setup for Cycle Trading. Using a personal Trigger concept will be better to mitigate the risk. Trade Setup + Trigger ===> Trade, Is my principle.
+1 Reply
Great work as always...

And on coondawg71's point...I haven't looked at the indicator yet...but there is code you can use in the inputs tab that allows people to automatically pick if they want to use the High, Low, hl2, ohlc4...etc...I need to start implementing that in some of my codes...easier for people to adjust who aren't familiar with coding...
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ucsgears PRO ChrisMoody
2 years ago
I was looking for the code, Do you have it?
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ChrisMoody PRO ucsgears
2 years ago
Yes...But I would have posted it if I knew where it was...I used in 3 indicators I posted...I have to look through them all and find example...then I will post it here
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In this illustration I highlight another two scenarios that are actionable using UCSGEARS' Cycle indicator. First scenario to mention would be the comment noted in white. This moment is highlighted because we have a Balance Point when Signal Line and Histogram are on Zero Line. This should always be noted on your price chart. I use the horizontal ray drawing tool to mark the closing of the bar as I know this is usually tested, creating a big divergence from the overall trend and price action bias. See the yellow dashed line and two yellow arrows located in the price panel. Secondly, we have another scenario to highlight which I did on just one occasion ,yet there are several. Using this Cycle indicator we can use the swing highs and lows of the Signal line to highlight breaches, for this I used sky blue. In this cherry picked example, we see how once the Signal line breached below the previous swing low, price follows through strongly. Target was determined to be closed where the Signal line breaches back up through the marked level, ending the down phase in this particular down cycle. This caught a pretty decent trend which resulted in a gain of nearly 5% over the course of 20 days. If you can visualize this indicator behaving similar to a Seismograph you will be able to better utilize its full potential.

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IvanLabrie PRO coondawg71
2 years ago
Nice example ;)
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Yet another manner in which I see how to utilize this indicator. Please see self explanatory notations on the chart. First, we establish a Balance Point. Second, we marked Swing High and Low of Cycle Signal. Third, we trade (in this example) the best way possible of buying the dips of the Cycle histogram as they converge with our measured cycles. Take profit/ Exits would be discretionary upon user.

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Starlord
2 years ago
Hi guys...when will Version 2 come out? Great script!
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ucsgears PRO Starlord
2 years ago
Yes, Do you have any suggestions?
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Starlord ucsgears
2 years ago
For me, I need scripts that are a no-brainer and you follow "these rules" and 80% of the time it'll win. Combined with another one of your scripts looks very interesting for the daily chart for Forex that I included here. When it gets to shorter timeframes there is so much whipsaw that it knocks off inexperienced chaps like myself or we're so confused we crawl up in the fetal position and chant "I'm in my happy place". Coondawg has great stuff and that's still a little over my head but perhaps a way to smooth out the bars and perhaps your thoughts on if it's something that is stand alone or works well in combination with another script/indicator and certain timeframes. I hope this is a worthwhile suggestion.
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Starlord Starlord
2 years ago
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ucsgears PRO Starlord
2 years ago
Currently, we do not have a full capability to do such scripting strategies in TV. I am waiting for TV to release it. It will be sooner, based on information i got. To answer you question on Steve Primo S4. It is set up for daily and weekly chart. He has about 8 strategies based on someone who told me. This was the only one I could find. I kinda know what others look like. But do not have the full set of rules.
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ucsgears PRO Starlord
2 years ago
BTW, to answer your question on Smoothing these cycle would defeat its purpose. Adding a few more lagging indicators will slow this down. I can add as an option on the next release.
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Starlord ucsgears
2 years ago
Yes, unfortunately I need some things idiot proof. I have to tell you that you do have some great scripts and I appreciate you, as well as others, making these available to newbies like myself.
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ucsgears PRO Starlord
2 years ago
We all go through this process. If you are a newbie, First question is, what are you comfortable with trading breakouts / pullbacks?
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ucsgears PRO Starlord
2 years ago
Here is a beginners Strategies you can learn - http://stockcharts.com/school/doku.php?id=chart_school:trading_strategies:rsi2 - I started with this strategy and modified this extensively. There are about 100k variations to this Strategy, everybody does. FYI - I trade Stocks.
+1 Reply
Starlord ucsgears
2 years ago
Thanks:)
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TheYangGuizi
6 months ago
Would be possible to colour the bars green/red depending on if they are above or below the zero line?
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ucsgears PRO TheYangGuizi
6 months ago
add the below code after the plot statements

barcolor (plot_color1)
+1 Reply
TheYangGuizi ucsgears
6 months ago
Thanks :)
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TheYangGuizi ucsgears
6 months ago
snapshot


Not bad :)
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