ChrisMoody

CM_Blast_Off_V1_Alerts Ready

Blast Off Indicator - Alert Ready!!!

Created By Request from @elpuerto936c

Description of Indicator:
***This measures the day's open / close vs then high lows of the day (range)
***When the open /close is less than 20% of the range, then it's likely that the following day will have a big jump.
***The Thought Process is Simply When (Open - Close) is Less Than 20% Of The Range…Shows Indecision and Breakout is Probable.
***Which way? Use whatever indicator you want to figure out if the market is oversold or overbought.

***NOTE: If Indicator Triggers After Extended Up or Down Move…This = High Probability Reversal.

In Inputs Tab:
-Ability to Change The Trigger Value…(This is Percent The (Open-Close) is to the Total RANGE of The Bar).
-Ability to Turn On/Off Highlight Bars via Check Box.

To Set Alert:
-In First Drop Down Box Select Name of Indicator
-In Drop Down to Right Select “Alert Blast Off If Below Trigger”.
-Then Select “Greater Than”.
-Then Select “Value”
-To the Right of Value type in .99
-Select On Bar Close, If not you will get FALSE Alerts.
Remove from Favorite Scripts Add to Favorite Scripts
//Created By ChrisMoody on 12-26-2014 By Request from elpuerto936c
//This measures the day's open / close vs then high lows of the day (range)
//When the open /close is less than 20% of the range, then it's likely that the following day will have a big jump.
//Which way? use whatever indicator you want to figure out if the market is oversold or overbought
//***NOTE: If Indicator Triggers After Extended Up or Down Move…This = High Probability Reversal.

study(title="CM_Blast_Off_V1_AlertReady",shorttitle="CM_BlastOff_V1", overlay=false, precision=0)
trig = input(20, title="Trigger Value = % of Range")
hb = input(true, title="Show Highlight Bars When Condition = True")
cc = input(true, title="Show Color Change When Value is < Trigger Value")

val = abs(close - open)
range = high - low

blastOffVal = (val/range) * 100
trigger = trig

alert1 = blastOffVal < trig ? 1 : na

col = cc and blastOffVal < trig ? red : aqua

barcolor(hb and blastOffVal < trig ? fuchsia : na)

plot(blastOffVal, title="Blast Off Value", style=columns, linewidth=3, color=col)
plot(trigger, title="Trigger Value Plot 1", style=circles, linewidth=3, color=fuchsia)
plot(trigger, title="Trigger Value Plot 2", style=line, linewidth=2, color=fuchsia)
plot(alert1, title="Alert Blast Off if Below Trigger", style=circles, linewidth=1, color=yellow)
Dear Chris Moody,
Is it possible to modify the code so that it will color only the candles whose body size is less than 50 % of range.
Color candle <=50 % of range

Range= high - low
Body= open-close

Mob
Reply
mobfriend3 mobfriend3
Sorry forgot to mention indicator for MT4
Reply
hi, i am a beginner and i wonder how can i use that on mt4? could someone be cool enough to
explain me Thanks for all
Reply
Almost every Trading Platform has there own coding language. TradingView's coding language is called PineScript and was designed to be mush simpler to code than MT4's, or any other platforms coding language. Therefore no indicators coded on TradingView are MT4 compatible.
+1 Reply
IlyasShaikh ChrisMoody
People are using MT4 extensively now.. don't you think people like you should look at MT4 seriously as per as coding a Indicator is concerned.. Anyway Thanks for explaining ...
Reply
binaryking ChrisMoody
Chris, is it possible to modify this script to only show doji's on the over 80 and under 20 OB/OS areas?
Reply
ChrisMoody PRO binaryking
Is it possible to show only Dojis...Yes.

But this indicator isn't showing overbought or oversold. It's showing percentile of the Range of the Current bar. So do you mean with a RSI os some type of indicator like that?
Reply
binaryking ChrisMoody
I would like for it to show dojis when it is ob/os, i do use other indicators to show this, just need to be alerted when they apear
Reply
ChrisMoody PRO binaryking
No problem...One MAJOR item to think about. A candle that looks like a Doji is not always have the open and close at the EXACT same price.

Give me your EXACT definition of a Doji. A exact indicator/criteria your using for the Over Bought---Over Sold Criteria.
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SurfDude ChrisMoody
Thanks for this indicator Chris. I'll check it out and play with it a bit.

Surfdude.
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