HPotter

Bull And Bear Balance Indicator

Hi
Let me introduce my Bull And Bear Balance Indicator script.
This new indicator analyzes the balance between bullish and
bearish sentiment.
One can cay that it is an improved analogue of Elder Ray indicator.
To get more information please see "Bull And Bear Balance Indicator"
by Vadim Gimelfarb
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////////////////////////////////////////////////////////////
//  Copyright by HPotter v1.0 14/04/2014
//    This new indicator analyzes the balance between bullish and
//    bearish sentiment.
//    One can cay that it is an improved analogue of Elder Ray indicator.
//    To get more information please see "Bull And Bear Balance Indicator" 
//    by Vadim Gimelfarb. 
////////////////////////////////////////////////////////////

study(title = "Bull And Bear Balance Indicator")
value = iff (close < open , //then 
            iff (close[1] > open ,  max(close - open, high - low), high - low), // else
            iff (close > open, //then
                iff(close[1] > open, max(close[1] - low, high - close), max(open - low, high - close)), //else
                iff(high - close > close - low, //then
                    iff (close[1] > open, max(close[1] - open, high - low), high - low), //else
                    iff (high - close < close - low, //then
                        iff(close > open, max(close - low, high - close),open - low), //else
                        iff (close > open, max(close[1] - open, high - close),//else
                            iff(close[1] < open, max(open - low, high - close), high - low))))))

value2 = iff (close < open , //then 
            iff (close[1] < open ,  max(high - close[1], close - low), max(high - open, close - low)), // else
            iff (close > open, //then
                iff(close[1] > open,  high - low, max(open - close[1], high - low)), //else
                iff(high - close > close - low, //then
                    iff (close[1] < open, max(high - close[1], close - low), high - open), //else
                    iff (high - close < close - low, //then
                        iff(close[1] > open,  high - low, max(open - close, high - low)), //else
                        iff (close[1] > open, max(high - open, close - low),//else
                            iff(close[1] < open, max(open - close, high - low), high - low))))))


nBBB = value2 - value
nBBBc = nBBB < 0 ? red : blue
plot(nBBB, style=line, linewidth=1, color=nBBBc)
plot(nBBB, style=histogram, linewidth=1, color=gray)
pcmourao
2 years ago
Is there a script for this?
Reply
HPotter PRO pcmourao
2 years ago
click make it mine and then open code from the chart and click Save. Then this script will be in your Indicators -> Customs Scripts.
Reply
pcmourao HPotter
2 years ago
Thks
Reply
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