VEMA Band_v2 - 'Centre of Gravity

620 2 56
Concept taken from the MT4 indicator 'Centre of Gravity'except this one doesn't repaint.
Modified / BinaryPro 3 / Permanent Marker
Ema configuration instead of sma & centralised.
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study("VEMA Band_v2", overlay=true)
long = ema(close, 21)
plot(long, color=blue, linewidth=2)
source = close
length3 = input(34, minval=1, title = "WMA Length")
atrlen = input(3000, minval=1, title = "ATR Length")
mult1 = 2
mult2 = 3
ma = ema(source, length3)
range =  tr
rangema = wma(range, atrlen)

up1 = ma + rangema * mult1
up2 = ma + rangema * mult2

dn1 = ma - rangema * mult1
dn2 = ma - rangema * mult2

color1 = black
color2 = black

u4 = plot(up1, color = color1,linewidth=1)
u8 = plot(up2, color = color2,linewidth=1)

d4 = plot(dn1, color = color1,linewidth=1)
d8 = plot(dn2, color = color2,linewidth=1)

fill(u8, u4, color=#30628E, transp=100)
fill(d8, d4, color=#30628E, transp=100)
fill(d4, u4, color=#128E89, transp=90)

//Linear regression band
nlookback = input (defval = 21, minval = 1, title = "Lookback")
scale = input(defval=1,  title="scale of ATR")
nATR = input(defval = 14, title="ATR Parameter")

//Center band
periods=input(34, minval=1, title="MA Period")
pc = input(true, title="MA BAND")

hld = iff(close > ema(high,periods)[1], 1, iff(close<ema(low,periods)[1],-1, 0))
hlv = valuewhen(hld != 0, hld, 1)

hi = pc and hlv == -1 ? sma(high, periods) : na
lo = pc and hlv == 1 ? sma(low,periods) : na
plot(avg(ema(high,periods)+2.5*(ema(high,periods)-ema(low,periods)),ema(low,periods)-2.5*(ema(high,periods)-ema(low,periods))), color=red, style=line,linewidth=1)
plot(pc and ema(high, periods) ? ema(high, periods):na ,title="Swing High Plot", color=black,style=line, linewidth=1)
plot(pc and ema(low,periods) ? ema(low,periods) : na ,title="Swing Low Plot", color=black,style=line, linewidth=1)
pezq PRO
2 years ago
I really like this. With a Donchian channel its even more useful. Can you tell me how the plots are calculated and whether you found the three hour time period to be the best. I personally like the 3 hour. Does it need different parameters on the 4 hour chart? Anyway thanks very much for this beautiful work. I have some interesting mathematical ideas that you might like to take a look at.
vdubus PRO pezq
2 years ago
thanks pezq, But im not a coder, Only a manipulator of what people have already created, but want something practical that fits my style of trading. Try lower the ATR Length back to 1000
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