276 1 55
Buy Low Sell High
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study(title="JV", shorttitle="Buy Sell", overlay=false)
src = close, 
up = rma(max(change(src), 0), 20)
down = rma(-min(change(src), 0), 20)
rsi = down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down))
emaRSI = ema(rsi,10)

wvf = ((highest(close, 22)-low)/(highest(close, 22)))*100

sDev = 2.0 * stdev(wvf, 20)
midLine = sma(wvf, 20)
lowerBand = midLine - sDev
upperBand = midLine + sDev

rangeHigh = (highest(wvf, 50)) * 0.85
rangeLow = (lowest(wvf, 50)) * 1.01

col = wvf >= upperBand or wvf >= rangeHigh ? orange : rsi>emaRSI ? green : gray

// plot(wvf, style=histogram, linewidth = 4, color=col)

obLevel = input(55, "Over Bought Level")
osLevel = input(-53, "Over Sold Level")
 
ap = hlc3 
esa = ema(ap, 10)
d = ema(abs(ap - esa), 10)
ci = (ap - esa) / (0.015 * d)
tci = ema(ci, 21)
 
wt1 = tci
wt2 = sma(wt1,4)



value = wvf >= upperBand or wvf >= rangeHigh ? -1 : rsi>emaRSI ? 1 : -0.5
// green: value == -1? orange: na

color2 = value == 1 and value[1] ==-1 and value[2] == -1 ? green: na 
color3 = value == 1 and value[2] ==-1 and value[3] == -1 ? green: color2

buy=wt1<osLevel and wt1>wt2 ? 0.5:0
sell=wt1>obLevel and wt1<wt2 ? -1: value ==-0.5 and value[1]==1 ?  -0.5:0
sellcolor = sell==-1 ? red : orange


plot(value, style=histogram, linewidth = 4, color=color3)
plot(buy, style=histogram, linewidth = 4, color=teal)
plot(sell, style=histogram, linewidth = 4, color=sellcolor)

SS96 PRO
2 years ago
nope. buy high, sell higher :)
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