This script is adapted from TKP's long/short indicator to initiate buy/sell indications when price crosses the T3 moving averages, and when the T3's themselves cross. Bars change colors based on price over/under T3 and T3 up or down or This allows for simple visual analysis of trend direction along with entries, exits, and stop loss values.
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Added color change for rising/falling T3
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Updated to version 4. Updated color scheme. Outlined metrics in comments to define signals and inputs. Name changed.
*NEW*
Incorporated a TSI momentum element to attempt to anticipate reversal candles. Arrow symbols are displayed on bars where the TSI value line "curls" toward the signal line when over or under the signal line. This can indicate momentum "headwinds" or "tailwinds"
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Added alert conditions
-'Close crossing T3' ----> alerts that reversal candle is forming -'T3 crossing T3 ' ----> alerts that new trend may be forming
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-Color change and display image refresh as it was lost on last update
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Update includes some menu name changes and plot fill color between T3 averages to accentuate bullish and bearish trends
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NEW FEATURES!
-Optional "Plotbar Overlay" plots bars with Heikin-Ashi Inputs when toggled. This allows for the benefits of price smoothing without sacrificing moving average and indicator performance as real close value is still used. This can also help on short time frames and improve results with crypto! The user must "mute" the main series candles when in use to avoid candle overlap.
-Included optional price line as muting main bars will disable the TradingView default price line. The horizontal plot will track the real closing price while in HA mode!
4-COLOR SCHEME!
-Additional color input enabled to differentiate between bullish and bearish reversals at the users discretion! Default remains single color
-Colors are now inputs with labels in settings
-Organized input menu with new grouping capability with additional descriptions for HA overlay
-Fixed T3 alert to function properly when T3's cross each other
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Re-publish to fix display image because TradingView can't include a preview feature
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Bug fix for HA bar default color
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Tradingview update exposed language variation that caused HA candle overlap. re-wrote to default candles hidden.
Default value for HA candles prior to bar color data (beginning of available data) set to up and down user defined bull/bear color
@tinkl, Thank you very much! Your contribution is appreciated!
Scotty-Mac
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You're an artist BRO... absolutely phenomenal! I'm playing around with all your scripts and ...WOW!
Bjorgum
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@Scotty-Mac, Thank you brother, means a lot. Peace and love 🙏
UnknownUnicorn912188
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Awesome
UnknownUnicorn912188
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Great indicator
KhyatiDesai
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sir, kind request
please change the singal reversal yellow colour in two different colours,
bullish reversal = Yellow
&
bearish reversal = Blue
please help
Bjorgum
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@KhyatiDesai, Good suggestion, I will look in to it. I can see how some may want that. Default will likely stay yellow, but i can include the ability to differentiate