brobear

Fuzzy Fib Counts

A new approach to trend/time analysis. This indicator counts up/down price moves using fuzzy logic in two time frames. Counts reaching Fibonacci numbers are often significant to trend momentum: either reversal or stronger continuation. See the script’s beginning comments for details.

I’m amazed with DeMark and all his indicators. But after coding a TD_Sequential script, I began to wonder if there wasn’t an easier way to identify high probability entry/exit points without all the intricate logic. It took awhile, but a different paradigm eventually came into focus: Fuzzy Fib Counts (FFC).

FFC is like “analog” compared to TD_Sequential’s “digital” approach. And FFC is much simpler: no buy/sell/perfected/deferred signals, just up/down counts. It’s uncanny how often a trend is refocused at Fibonacci numbers, but like TD_Sequential… it’s not perfect! As with all indicators, consult your intuition, before pulling the trigger.

The default values have been effective for me in Bitcoin (and I’m surprised how well it works in smaller time frames). However, for less volatile markets, you may need to reduce the fuzz level and/or adjust the filter (averaging) parameters.

FFC has been helpful to me. Hope it helps you too! If so, donations appreciated… Thanks!

BTC: 36FdUcETrwmGxt5qazq7Bo7kad9kuNawMF
LTC: MJYHzwJYjsnB35dzb5L9hCpqZf8RyqViEm
ETH: 0x3db7557bea61ca4c096c6ed7bdb2a0d69e455fe1


Looking for trailblazers to help explore new possibilities… Add constructive comments below!
Release Notes: Same behavior as before...
TradingView changed something in the Pine scripting language that prevented the old code from working. Altered the logic in the filter function to get it working again.
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hello can you help me make a script based on yours?
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I've been using a script. Thank you
Is the number no longer displayed since yesterday and it is not available?
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brobear WQWQWQWQ
@WQWQWQWQ, Thanks for pointing this out... I just uploaded a fix. Is it working for you now?
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WQWQWQWQ brobear
@brobear, The display refreshed Thank you for prompt response.
I am grateful for your support. You’re the best!
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Thanks for a great script, i found an issue with the count going over 9 showing a diamond instead of A, B C, etc. This enables the count to restart at the value of SetupBars. I'll make sure to try the Fuzzy Fib Counts indicator as well.

(abbreviated due to post length restrictions)

// Setups, last
// Plot Setup up/down counts
countUp = 0
countUp := close > close ? nz(countUp)+1 <= SetupBars ? nz(countUp)+1 : 1 : 0
plotchar(SetupShowCount?(countUp==1?true:na):na, title="Setup Count Up 1", char="1", color=scupColor, location=scupLoc, size=scupSize, transp=Transp, editable=PlotEditEnable, show_last=scpShowLast)
...
plotchar(SetupShowCount?(countUp==10?true:na):na, title="Setup Count Up 10", char="A", color=scupColor, location=scupLoc, size=scupSize, transp=Transp, editable=PlotEditEnable, show_last=scpShowLast)
...

countDn = 0
countDn := close < close ? nz(countDn)+1 <= SetupBars ? nz(countDn)+1 : 1 : 0
plotchar(SetupShowCount?(countDn==1?true:na):na, title="Setup Count Down 1", char="1", color=scdpColor, location=scdpLoc, size=scdpSize, transp=Transp, editable=PlotEditEnable, show_last=scpShowLast)
...
plotchar(SetupShowCount?(countDn==10?true:na):na, title="Setup Count Down 10", char="A", color=scdpColor, location=scdpLoc, size=scdpSize, transp=Transp, editable=PlotEditEnable, show_last=scpShowLast)
...
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brobear peterlarsson2011
@peterlarsson2011, Looks like your comment for TD Sequential landed in the Fuzzy Fib indicator...

The TD Seq is coded this way by design. There is a user input call "Setup: Bars" which defines the number of counts in a Setup. If set > 9, then characters appear (A, B... up to D, or 13 setup bars). Regardless of how many "Setup: Bars" are defined, an up/down trend can continue well past the Setup and when this happens, diamonds (instead of numbers/characters) are printed. When price finally flips, a new setup count begins at 1. The yellow diamond appears when a setup is perfected, which can be deferred... or happen well after the Setup.

If I'm not understanding your concern, let's pick this up in the TD Sequential indicator comments...
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If I was looking at the count on 1 hr time frame. Group 2 would be what time frame? Thanks
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brobear iGotHope
@iGotHope, The number of bars for Group 2 (default value) is 5. So, if you're on a 1 hr chart, Group 2 represents a 5 hr chart (time frame). The number of bars can be adjusted by clicking the format icon (the gear cog thingy next to the FFC indicator) -> Input -> Group 2 Bars.
Cheers
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@brobear, Thanks for the reply. I was able to adjust it. I've been trying to figure out how to set an alarm when a reversal or close to it bout to happen. I can't seem to figure it out. Any advise here?
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brobear iGotHope
@iGotHope, Great question! I haven't used alerts with FFC yet... But after a quick experiment, it looks possible.

For an alert, TradingView is using the plotting section of the FFC pine script above (lines 174-264) as the list of conditions to choose from.

Here's the alert conditions I tried:
FFC, shape
greater than
value, 0
once per bar

The "shape" selected represents the count up or count down in the sequence. So if you want to fire an alert on count up = 8, select the eighth shape from the top of the list. The first 19 shapes in the list are the individual counts up (green).

If you want to fire an alert on count down (red) = 5, select the 24th shape from the top of the list, which is the 5th shape after the "Group 1 Bar, Cnt Up" condition.

Again, reference the plotting section of the pine script to understand which "shape" you're selecting. The other alert condition parameters are saying: if this shape is present, than fire an alarm, each time it appears.


If you figure out a better way to fire alerts, please comment. Thanks!
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