Supp_Resis_Fibo — Indicator by TridentBull

Supp_Resis_Fibo

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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//Created By Marco 25 03 2016
// All Credit goes to Marco "Original Code Creator"
study(title="Supp_Resis_Fibo", overlay=true)
bblenght = input(34, minval=1, title="Bollinger Bars Lenght")
bbstdev = input(0.35, minval=0.1,step=0.05, title="Bollinger Bars Standard Deviation")
tp =input(0.0,defval=0.0,step=0.1,title ="percentuale take profitto")

//Calculate BB 55 0.2
source = close
basis = sma(source, bblenght)
dev = bbstdev * stdev(source, bblenght)
upperBB = basis + dev
lowerBB = basis - dev
midBB=(upperBB+lowerBB)/2
//is over the top?
isOverBBTop = low > upperBB ? true : false
isUnderBBBottom = high < lowerBB ? true : false
newisOverBBTop = isOverBBTop != isOverBBTop[1]
newisUnderBBBottom = isUnderBBBottom != isUnderBBBottom[1]
//receive high and low range
high_range = valuewhen(newisOverBBTop,high,0)
low_range = valuewhen(newisUnderBBBottom,low,0)

bblow = valuewhen(newisOverBBTop,(lowerBB/0.00005) *  0.00005,0)
bbhigh = valuewhen(newisUnderBBBottom,(((upperBB*1000)/5)+5) * 5/1000,0)

//take it only if over the BB limit
buy_limit_entry = isOverBBTop ? high_range==high_range[1] ? high_range+0.001: na : na
sell_limit_entry = isUnderBBBottom ? low_range==low_range[1] ? low_range-0.001: na : na

take_profit_buy=  isOverBBTop ? high_range==high_range[1] ? (buy_limit_entry + buy_limit_entry-bblow)+(buy_limit_entry + buy_limit_entry-bblow)*tp/500 : na : na 
take_profit_sell= isUnderBBBottom ? low_range==low_range[1] ?(sell_limit_entry -(bbhigh-sell_limit_entry))-(sell_limit_entry-(bbhigh-sell_limit_entry))*tp/500 : na : na

take_profit2_buy=  isOverBBTop ? high_range==high_range[1] ? buy_limit_entry + 2*(buy_limit_entry-bblow)+(buy_limit_entry + 2*(buy_limit_entry-bblow))*tp/500 : na : na 
take_profit2_sell= isUnderBBBottom ? low_range==low_range[1] ? sell_limit_entry - 2*(bbhigh-sell_limit_entry)-(sell_limit_entry - 2*(bbhigh-sell_limit_entry))*tp/500 : na : na

stop_loss_buy = isOverBBTop ? high_range==high_range[1] ? bblow : na : na 
stop_loss_sell = isUnderBBBottom ? low_range==low_range[1] ? bbhigh : na : na

highlightHigh = isOverBBTop ? white : white
highlightLow  = isUnderBBBottom ? white : white

colorLineUp = buy_limit_entry ? blue : blue
colorLineDown = sell_limit_entry ? red : red


//plot Statements
bbup=plot(upperBB, title="BB Upper Band", style=linebr, linewidth=2, color=highlightHigh)
bbdo=plot(lowerBB, title="BB Bottom Band", style=linebr, linewidth=2, color=highlightLow)
plot( buy_limit_entry, title="Buy Entry", style=linebr, linewidth=2, color=colorLineUp, transp=80)
plot( sell_limit_entry, title="Short Entry", style=linebr, linewidth=2, color=colorLineDown, transp=80)
plot( stop_loss_buy, title="Buy Stop", style=circles, linewidth=2, color=maroon, transp=0)
plot( stop_loss_sell, title="Short Stop", style=circles, linewidth=2, color=maroon, transp=20)

/////////////////////////////////////////////////////////////////////////////////////////////////////////
/////////////////////////////////////////////////////////////////////////////////////////////////////////
len=input(34)
vwaphigh=highest(vwap,len)
vwaplow=lowest(vwap,len)
VaHD=vwaphigh-(vwaphigh-vwaplow)*0.15
VaLD=vwaplow+(vwaphigh-vwaplow)*0.15
PoCD=VaHD-(VaHD-VaLD)*0.618


spread=vwap
vwap_15 = security(tickerid, '5', spread)
vwap_240 = security(tickerid, '240', spread)

up=crossover(low,VaHD)
down=crossover(VaLD,high)
plotshape(down, style=shape.triangledown,style=size.large,
          location=location.abovebar, color=red,text="Sell")
plotshape(up, style=shape.triangleup,style=size.large, 
          location=location.belowbar, color=green,text="Buy")



up0=crossover(vwap_240,PoCD)
down0=crossover(PoCD,vwap_240)

plotshape(down0, style=shape.triangledown,style=size.large,
          location=location.abovebar, color=red,text="Short")
plotshape(up0, style=shape.triangleup,style=size.large, 
          location=location.belowbar, color=green,text="Long")