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Bungee

814 7
study(title="Bungee", shorttitle="Bungee")

OverBought = hline(80)
OverSold = hline(20)

length1 = input(76, minval=1), smoothK1 = input(4, minval=1), smoothD1 = input(4, minval=1)
k1 = sma(stoch(close, high, low, length1), smoothK1)
plot(k1, color=orange)

length2 = input(3, minval=1), smoothK2 = input(3, minval=1), smoothD2 = input(3, minval=1)
k2 = sma(stoch(close, high, low, length2), smoothK2)
plot(k2, color=green)

length3 = input(16, minval=1), smoothK3 = input(3, minval=1), smoothD3 = input(3, minval=1)
k3 = sma(stoch(close, high, low, length3), smoothK3)
plot(k3, color=blue)

length4 = input(8, minval=1), smoothK4 = input(3, minval=1), smoothD4 = input(3, minval=1)
k4 = sma(stoch(close, high, low, length2), smoothK4)
plot(k4, color=red)

length5 = input(14, minval=1)
upper = highest(length5)
lower = lowest(length5)
WP = 100 * (upper - close) / (upper - lower)
plot(WP, color=purple)

length6 = input(2, minval=1)
up = rma(max(change(close), 0), length6)
down = rma(-min(change(close), 0), length6)
RSI = down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down))
plot(RSI, color=black)
thanks for this interesting indicator. could you explain how it track elliiot waves?
jackvmk
Sorry, but I've been trying to delete this post; because I discovered errors in my code after I posted it.
Stock Jock
no problem mate, i could wait version 2.
jackvmk
It's really not possible to explain how this works with the Elliot Wave in a forum, because it's extremely complicated. This type of training has been done online classes. It's called the "Wavy Tunnel Trading System". I'm not trying to avoid your question, but the class is several months of online webinars that can't be explained in a few messages. Your welcome to use my indicators though.
Stock Jock
i read something about wavy tunnel method and i only found regee's wave, vegas tunnel and 12 ema indicators in it. i cant found anything about bungee's signals.
HI,Friend
thank you for your sharing "bungee",i like it very much,But your indicators have a small error(length5 is error),can you help me to fix it? thank you very much.

Best regards
almost like a picasso
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