RicardoSantos

[RS]Average Advance and Decline Lines V0

Method to draw linear regression lines from average price advance&decline range
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study("[RS]AA&DL.V0", overlay=true)
//  ||---   Inputs:
tempname = input("text")
risingdecaymultiplier = (syminfo.mintick*input(30.000, type=float))
fallingdecaymultiplier = (syminfo.mintick*input(30.000, type=float))
marginmultiplier = input(10)
hidefallingline = input(false)
hiderisingline = input(false)
hidetopmargin = input(false)
hidebottommargin = input(false)
//  ||---   Get the decay averages for tops and bottoms.
topdecay = high >= nz(topdecay[1]) ? high : nz(topdecay[1]) - fallingdecaymultiplier
botdecay = n < 10 ? low : low <= nz(botdecay[1]) ? low : nz(botdecay[1]) + risingdecaymultiplier
//  ||---   Get the margin for entry
tmargin = topdecay - (fallingdecaymultiplier*marginmultiplier)
bmargin = botdecay + (risingdecaymultiplier*marginmultiplier)
//  ||---   Detect if price is in challenge zone or outside(trending/breakout)
breakoutup = close > bmargin ? true : false
breakoutdown = close < tmargin ? true : false
//  ||---   Color Switchs:
topdecaycolor = breakoutdown ? topdecay < topdecay[1] ? maroon : na : topdecay < topdecay[1] ? gray : na
botdecaycolor = breakoutup ? botdecay > botdecay[1] ? green : na : botdecay > botdecay[1] ? gray : na
//  ||---   Outputs:
plot(hidefallingline ? na : topdecay, color=topdecaycolor, style=linebr, linewidth=2, join=true)
plot(hiderisingline ? na : botdecay, color=botdecaycolor, style=linebr, linewidth=2, join=true)
//plot(topdecay+fallingdecaymultiplier, color=topdecaycolor, style=circles, linewidth=2)
//plot(botdecay-risingdecaymultiplier, color=botdecaycolor, style=circles, linewidth=2)
plot(hidetopmargin ? na : tmargin, color=topdecaycolor, style=linebr, linewidth=1, join=true)
plot(hidebottommargin ? na : bmargin, color=botdecaycolor, style=linebr, linewidth=1, join=true)
thx, let me know if you guys find improvements or suggestions :)
Reply
Indeed, interesting...I'll compare it to my manual lines :)
Thanks for sharing!
Reply
I really like what you have done here Ricardo !!! Job well done. Thanks for sharing.
Reply
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