MarcoValente

Willams% Fisher transformed confermated by BB%

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Using the Willams% sharped by Fisher tranformer , it s easy to find the bottom and top, and the BB% conferm the minimum. I plot as colored columns : yellow when the price touch the BB , and red or green when price move out from the bands, if the line of Willams also reach the top or bottom, that's the moment to act. In all indicator can change the setting as you like
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//by Marco
study(title=" Willams% Fisher transform confermated by BB%", shorttitle=" W% & BB%")
length = input(20, minval=1,title="BB period")
src = input(close, title="Source")
mult = input(2.0, minval=0.001,step=0.05, maxval=50)
useCurrentRes = input(true, title="Use Current Chart Resolution?")
resCustom = input(title="Use Different Timeframe? Uncheck Box Above", type=resolution, defval="60")
res = useCurrentRes ? period : resCustom
len = input(14, minval=1, title="Length Willams")
high_ = highest(len)
low_ = lowest(len)
round_(val) => val > .99 ? .999 : val < -.99 ? -.999 : val
value = round_(.6+ ((close - high_) / max(high_ - low_, .001))+ .33 * nz(value[1]))
fish1 = .5 * log((1 + value) / (1 - value))
co=fish1>1.1? red : fish1 <-0.2?green : blue
out1 = security(tickerid, res, fish1)
ff=plot(out1, color=co,histbase=.5, linewidth=2,title="Willams%")

basis = sma(src, length)
dev = mult * stdev(src, length)
upper = basis + dev
lower = basis - dev
bbr =(src - lower)/(upper - lower)
del=upper-high
ded=low-lower
uu= del>del[1]? 1:0
ud=ded>ded[1]? 1:0
out2 = security(tickerid, res, bbr)
col=high>upper or low<lower? yellow :high[1]>upper[1] and close<upper and uu?red :low[1]<lower[1] and close >lower and ud? green : teal
plot(out2, style=columns,title="BB%",histbase=0.5,color=col,transp=40)
band1 = hline(1.1, color=gray, linestyle=dashed)
band2=hline(1.5)
band0 = hline(-0.2, color=gray, linestyle=dashed)
banda=hline(-.7)
fill(band1, band2, color=red,transp=90)
fill(band0, banda, color=green,transp=90)
Sorry do not understand.
Please can you explain again in other words ?
( any timeframe ? )
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