ucsgears

CM_UCS_Modified SlingShot

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Thanks to Chris Moody for writing the code, and emailing it to me. This is one of many reasons, I respect him. In this code, All I have defined was the Trend up and down. The few cosmetic touch is actually a lot.

After I had few comments with B-S on charts, I changed them to Arrows.

I use this to trade Oversold/Overbought Conditions from the UCS_Momentum Oscillator. I have not back tested this system yet.

Link to UCS_Momentum Oscillator -

Link to CM_UCS_Slingshot Modified
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//Created us usgears on 10-7-2014
//ChrisMoody contributed a few cosmetic options.
study("UCS_Momentum Oscillator Upper", overlay=true)
sae = input(true, title="Show Aggressive Entry?, Or Use as Alert To Potential Conservative Entry?")
sce = input(true, title="Show Conservative Entry?")
st = input(true, title="Show Trend Arrows at Top and Bottom of Screen?")
def = input(false, title="Only Choose 1 - Either Conservative Entry Arrows or 'B'-'S' Letters")
pa = input(true, title="Show Conservative Entry Arrows?")
sl = input(false, title="Show '↑'-'↓' Letters?")

ma1 = ema(close, 13)
ma2 = ema(close, 21)
ma3 = ema(close, 34)
ma = ema(close, 89)

range =  tr 
rangema = ema(range, 89)
upper = ma + rangema * 0.5
lower = ma - rangema * 0.5
midChan = (upper + lower)/2
//Trend Definition
tr_up = ma1 > upper and ma2 > upper and ma3 > upper
tr_down = ma1 < lower and ma2 < lower and ma3 < lower
//Aggressive Entry
pullbackUpT() => tr_up and close < upper
pullbackDnT() => tr_down and close > lower
//Conservative Entry
entryUpT() => tr_up and close[1] < upper and close > upper
entryDnT() => tr_down and close[1] > lower and close < lower
//Conservative Entry True/False Condition
entryUpTrend = ma1 > upper and ma2 > upper and ma3 > upper and close[1] < upper and close > upper ? 1 : 0
entryDnTrend = ma1 < lower and ma2 < lower and ma3 < lower and close[1] > lower and close < lower ? 1 : 0

//Define Up and Down Trend for Trend Arrows at Top and Bottom of Screen
upTrend = ma1 > upper and ma2 > upper and ma3 > upper
downTrend = ma1 < lower and ma2 < lower and ma3 < lower

//Definition for Conseervative Entry Up and Down PlotArrows
codiff = entryUpTrend == 1 ? entryUpTrend : 0
codiff2 = entryDnTrend == 1 ? entryDnTrend : 0

//Trend Color Definition for Moving Averages and Channel
scolor = tr_up ? green : tr_down ? red : blue

barcolor(sae and pullbackUpT() ? yellow : sae and pullbackDnT() ? yellow : na)
barcolor(sce and entryUpT() ? aqua : sce and entryDnT() ? aqua : na)
//Plot 3 MA's
plot(ma1, title="Fast MA", color=scolor, style=circles, linewidth=1)
plot(ma2, title="Medium MA",color=scolor, style=circles, linewidth=2)
plot(ma3, title="Slow MA", color=scolor, style=circles, linewidth=3)
//Channel Plots
p1 = plot(upper, title="Upper Channel", color=scolor, style=line, linewidth=3)
p2 = plot(midChan, title="Upper Channel", color=silver, style=line, linewidth=1)
p3 = plot(lower, title="Lower Channel", color=scolor, style=line, linewidth=3)
fill(p1, p2, color=lime, transp=70)
fill(p2, p3, color=red, transp=70)

//Trend Triangles at Top and Bottom of Screen
plotshape(st and upTrend ? upTrend : na, title="Conservative Buy Entry Triangle",style=shape.triangleup, location=location.bottom, color=lime, transp=0, offset=0)
plotshape(st and downTrend ? downTrend : na, title="Conservative Short Entry Triangle",style=shape.triangledown, location=location.top, color=red, transp=0, offset=0)

//Plot Arrows OR Letters ↑ and ↓ for Buy Sell Signals
plotarrow(pa and codiff ? codiff : na, title="Up Entry Arrow", colorup=lime, maxheight=60, minheight=50, transp=0)
plotarrow(pa and codiff2*-1 ? codiff2*-1 : na, title="Down Entry Arrow", colordown=red, maxheight=60, minheight=50, transp=0)
plotchar(sl and codiff ? low - tr : na, title="Buy Entry", offset=0, char='↑', location=location.absolute, color=lime, transp=0)
plotchar(sl and codiff2 ? high + tr : na, title="Short Entry", offset=0, char='↓', location=location.absolute, color=red, transp=0)
Thanks for this script!
A few questions, sorry to bug you..

1. The candles are multi-coloured.. what do they mean? Yellow + Blue candles?
2. I've got green UP arrows and red DOWN arrows.. I'm guessing this is entry signals. How reliable is this? I'm looking historically it looks good but is it repainting?
+2 Reply
@AEFX786, Umm.. and my Yellow candles just turned to Brown! lol
Reply
HI! Im new to TV.

How do I add this indicator to my indicator list? (in my chart)

Thanks!!
Reply
Advanced Sling Shot is on its way - After Some serious backtesting.
snapshot
- Posting the current Idea on ETF.
Reply
Hey would you please tell me where can I get the codes for mt4 platform?
Reply
ucsgears PRO aravind.chakravarthy
I dont code mt4.... Only TOS and TV
Reply
can you please tell me what exactly is TOS and TV means
Reply
ucsgears PRO aravind.chakravarthy
TOS = think or swim. TV = Tradingview
Reply
Is it available for TOS ? Thanks In advance!
Reply
ucsgears PRO venkatdamera
Nope, not at this time, I haven't completed it. May be you can buy the original version for $500.
Reply
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