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
Remove from Favorite Scripts Add to Favorite Scripts
////////////////////////////////////////////////////////////
//  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)
DONATE/TIP

BTC: 1Lo1GoTNsPbrjGAgPgF4MYZPhBFdoVHaTm
How did this work out for you? interesting, but somewhat confusing
Reply
HPotter PRO dividendaddy
@dividendaddy, You can see it here:
Reply
Looks very interesting - I need to take some time to get my head around it
Thanks for the opportunity
Reply
HPotter PRO patontheback
@patontheback, You are welcome.
Reply
Is there a script for this?
Reply
HPotter PRO pcmourao
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
Thks
Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out