- A function to change the values used for calculation from real OHLC and Heikin Ashi. This allows us to look at different chart types but see the specific we choose. Originally HA values were used for calculation since it is easier to see trend on HA charts. However when testing it was not as effective as the calculated from the real values on normal charts. So the default function was flipped and real OHLC values are used as default.
- Two plots so we can see two different smoothness's. With a smoothing of 2, a slight slow down in PA can cause a negative slope but the smoother will stay trending unless its a major change. 2nd is slightly transparent.
- There is an of the main that can be used as a exit signal filter. If the starts going down but has not crossed the we would stay in a trade.
- Plots (excluding ) are coloured based on positive or negative slopes.
- Fibonacci numbers have been used to create different trend levels, instead of the standard 25, 50, 100.
- Alerts for every useful situation to help save time and not have to manually enter levels or crosses each time.
- In the code there are 8 EMAs and 3 ADXs but it was too much so they have been slashed out, but are fully functional if you choose to activate and use them. To reactivate the 3rd delete slashes on lines 50, 65, 78, 92-95, 165. The slashed out EMAs are much more obvious and easy to reactivate.
going up = Green
going down = Red
DMI+ going up = Bright Aqua
DMI+ going down = Turquoise / Dark Aqua
DMI- going up = Bright Purple
DMI- going down = Dark Purple
= White (50% transparent)
If there is anything that would be useful, let me know and I will add it in. I've already got some improvements/changes planned and some of my notes can be found in the code.
There is also a strategy to go with this indicator that will be uploaded very soon.
I've also changed my name, since I've taken almost all my money out of stonks and its all in different blockchain projects.
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.