CM_UCS_Modified SlingShot

8360 48 969
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 -
UCS_Momentum Oscillator - Version 2

Link to CM_UCS_Slingshot Modified
Remove from Favorite Scripts Add to Favorite Scripts
//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)

Use the Momentum Oscillator to smell the meat with the setup. There are other ways as well. KEY is you need trending ASSET.

- Good Luck
+3 Reply
Nice work and collaboration gentlemen! Perfect example of putting great minds at work together great things can happen on Trading View.com. Best site on the net for traders of any kind!!! My two cents would be this...since this is a Trend based indicator system, if you have not found a trend on your preferred time frame, look to next smaller time frames........or of course, be patient and wait!
+2 Reply
Hi, I try on 1 min to 1 day chart but looks weird in my chart.
Great work and a generous gesture!

Would need your help with the following...

Please review chart below and let me know on how I can manage to get a correctly proportioned chart?
Thank you very much in advance for your help!

+1 Reply
For those who have trouble, scaling. http://bit.ly/1sn0hwt
+1 Reply
fcha PRO ucsgears
Hi, didnt work in my chart. I did what you said, check the scale price but I dont have that scale price only selection.

+1 Reply
scaling issue here as well
Post your chart.
The Easy Fix for Scaling would be, From the Indicator Settings, uncheck the "Show trend arrow at top and bottom" - That should be 3rd check box
+1 Reply
fcha PRO ucsgears
I got it, thanks!
fcha PRO ucsgears
What indicator you use at the bottom?
Posted a link in the descriptions
fcha PRO ucsgears
Thanks, really help!
Wonderful, I love it!
Nice work. I am yet to grok fully how to effectively use this, but some of the signals I noticed were very promising.
+1 Reply
Looking for a crazy Indicator? Here is a sneek peak on something I am excited about.
+1 Reply
Looks good.
A simple pullback trading system -
+1 Reply
Larry Gaines $600 Indicators - Conceptual will be out tonight
+2 Reply

Does this indicator repaint?
repaint a candle while its forming? YES. This should not repaint anything thats complete. If it does, let me know. I will fix it.
+2 Reply
forexopl ucsgears
Thank you, i have been testing it out. Do you filter these signals with any other indicators?
Just the Strength of the Trend. you can use other indicators like ADX etc for determining the Strength of the trend. This is not how i scan, I use the ucs_oscillator for trading pullbacks.
+1 Reply
Do you like the TV version of ADX or have you made a new one you like better?
+1 Reply
ucsgears PRO Alphaoptions
I use the ADX with the DMI Oscillator.
Link to the oscillator -
UCS_Momentum Oscillator - Version 2
+2 Reply
YO...Someone just asked me to update the code for the SlingShot system to alert when the arrows form. I referred them to your system and said this system was better...

Would you consider publishing V2 of this indicator with Alerts Built In? If you need help with the code I'm happy to help....
ucsgears PRO ChrisMoody
Sure, Will be up tonight.
ucsgears PRO ChrisMoody
It is up - Just the Alert Code.

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

ucsgears PRO venkatdamera
are you kidding me? you want to pay 500 bucks for a free indicator in TV?

Here is Chris Moody -
Sling Shot System Vs. AKA The Sling Shot Crusher!!  2nd Post
the original version
CM Sling Shot System

i would check with Chris Moody, where he got it from.
Sure, I am not going to pay $500, will try to get It little cheaper from few websites that sells Indicators. I Just need the original website Info!

ChrisMoody PRO venkatdamera
@venkatdamera, Your welcome to use the code. Someone was advertising it for a discounted price of $500. It was simply obvious what the indicators were doing...so I posted the system for free to all TradingView users. I want to emphasize..I didn't Hack there code. I simply took a few minutes and wrote the code...since it was obvious what they were using in the video they sent out.

here is the link to the code: https://www.tradingview.com/v/nF1FUwyW/#tc105680
golongorgohome ChrisMoody
@ChrisMoody, @ucsgears, I'm trying to set this up as a strategy to backtest, I'm still new to PineEditor and not sure how to properly code this. Any way you guys can help? Thanks in advance!
Hi Chris,

i have selected one Indian stock and copied your code in pine editor and try to publish the code but i am getting error saying that " Active chart doesn't contains the study your going to publish".

Could you please let me know the steps to use this code for stock.
@ucsgears, i noticed that its repainting...
Iceman0929 PRO Iceman0929
@Iceman0929, nevermind disregard that, it doesnt repaint. good indicator
HI! Im new to TV.

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

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?
@AEFX786, Umm.. and my Yellow candles just turned to Brown! lol
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