VDUB_VLR_V2 — Indicator by vdubus

REJECTION SPIKE MEETS - LONDON UNDERGROUND / VDUB_VLR_V2

Combined indicators

London underground

Added an additional 2 x user customisable time lines to work simultaneously on all time frames indicating Reversal Zones

Rejection Spike + Strategy

For lower charts I've found the ultimate settings are
240
60
15
Also helps to refresh the page

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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?

study("VDUB_VLR_V2", shorttitle="VDUB_VLR_V2", overlay=true)
len = input(34, minval=1, title="Length")
src = input(close, title="Source")
out = ema(src, len)
plot(out, title="EMA", color=maroon)
last8h = highest(close,13)
lastl8 = lowest(close, 13)

plot(last8h, color=black,style=line, linewidth=1, title="Upper channel")
plot(lastl8, color=black,style=line, linewidth=1, title="Lower channel")

bearish = cross(close,out) == 1 and close[1] > close 
bullish = cross(close,out) == 1 and close[1] < close 
//======{RS}=====================================================================//
tf = input('240')
M = input('ATR')
P = input(14.00, type=float)
W = input(1)
pf = pointfigure(tickerid, 'close', M, P, W)
spfc = security(pf, tf, close)
p2 = plot(spfc, color=red, linewidth=4, title="Central Line 1")
//======================================================================//
tf2 = input('120')
M2 = input('ATR')
P2 = input(14.00, type=float)
W2 = input(1)
pf2 = pointfigure(tickerid, 'close', M2, P2, W2)
spfc2 = security(pf2, tf2, close)
p22 = plot(spfc2, color=blue, linewidth=3, title="Central Line 2")
//=====================================================================//
tf3 = input('60')
M3 = input('ATR')
P3 = input(14.00, type=float)
W3 = input(1)
pf3 = pointfigure(tickerid, 'close', M3, P3, W3)
spfc3 = security(pf3, tf3, close)
p23 = plot(spfc3, color=teal, linewidth=3, title="Central Line 3")
//============================Ichomku---------------------------------------------//
show_cloud = input(true, title="Display Ichimoku Cloud:")
conversionPeriods = input(34, minval=1)
basePeriods = input(26, minval=1)
laggingSpan2Periods = input(52, minval=1)
displacement = input(26, minval=1)
donchian(len) => avg(lowest(len), highest(len))
conversionLine = donchian(conversionPeriods)
baseLine = donchian(basePeriods)
leadLine1 = avg(conversionLine, baseLine)
leadLine2 = donchian(laggingSpan2Periods)
plot(not show_cloud ? na : conversionLine, color=green,linewidth=3, style=line, title="Mid line resistance levels")

p1 = plot(not show_cloud ? na : leadLine1, offset = displacement, color=white, linewidth=1, title="Lead 1")
p3 = plot(not show_cloud ? na : leadLine2, offset = displacement, color=black, linewidth=4, title="Lead 2")
fill(p1, p3, color=blue, transp=100)
//----------------------------------------------------------------------------////
length1 = input(13, minval=1, title="Upper Channel")
length2 = input(13, minval=1, title="Lower Channel")

upper = highest(length1)
lower = lowest(length2)

basis = avg(upper, lower)

l = plot(lower, style=circles, linewidth=2, color=green)
u = plot(upper, style=circles, linewidth=2, color=red)

fill(u, l, color=white, transp=75, title="Fill")
//===========================================================================================//