Sema Indicator by dojirock

Sema Indicator

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("Sema Indicator", overlay=true)

length_period1 = 5 // input(5,title="Period 1 length:")
length_period2 = 13 //input(13,title="Period 2 length:")
length_period3 = 34 //input(34,title="Period 3 length:")

p1top = high >= highest(high, length_period1)
p2top = high >= highest(high, length_period2)
p3top = high >= highest(high, length_period3)   //? true : false 
//p2top = p1top ? high[2] >= highest(high, length_period2) ? true : false : false
//p3top = p2top ? high[2] >= highest(high, length_period3) ? true : false : false

p1bot = low <= lowest(low, length_period1)
p2bot = low <= lowest(low, length_period2)
p3bot = low <= lowest(low, length_period3)

//filter = true
//sematop3 = filter ? p2top : p3top

sema3top = p3top ? true : false
sema2top = iff(p3top<p2top, true, false)
sema1top = iff(p2top<p1top, true, false)

sema3bot = p3bot ? true : false
sema2bot = iff(p3bot<p2bot, true, false)
sema1bot = iff(p2bot<p1bot, true, false)

plotchar(sema1bot, char='1', color= red, location = location.belowbar )
plotchar(sema1top, char='1', color= red, location = location.abovebar )

s2top = iff(sema2top and high>high[1] and high>high[2], true, false)
plotchar(sema2bot, char='2', color= blue, location = location.belowbar )
plotchar(s2top, char='2', color= blue, location = location.abovebar )

s3top = iff(sema3top and high>high[1] and high>high[2], true, false)

plotchar(sema3bot, char='O', color= green, location = location.belowbar )
plotchar(s3top, char='O', color= green, location = location.abovebar )