RicardoSantos

[RS][UNTESTED]CAP Fibo Channel V2

860 2 122
V2 of previous CFC, added optional bull/bear squeeze.

squeeze can get a bit messy on extremely oversold/overbought markets like currently USDJPY             in 1 hour timeframe, or any currency on low time frame during high volatility .
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study(title="[RS][UNTESTED]CAP Fibo Channel V2", shorttitle="[RS][UNTESTED]CFC.V2", overlay=true)
length = input(120)
Smooth = input(2), SmoothOutside = input(type=bool, defval=false)
midline = sum(avg(ohlc4,ohlc4[1]),length)/(length)//ema(ohlc4, input(6))

c = cum(close)/(1+n)
h = cum(high)/(1+n)
l = cum(low)/(1+n)

factor = avg((h-c), (c-l))// - stdev(midline, length) //<-- uncomment for psicadelic bubbling effect :p

p0 = plot(midline, color=black, linewidth=2)

//p1 = plot(midline + factor, color=black, linewidth=1, style=circles)
//p2 = plot(midline + factor * 2, color=black, linewidth=1, style=circles)
p3 = plot(ema(midline + factor * 3, SmoothOutside ? Smooth*3 : 1), color=black, linewidth=1, style=circles)
p4 = plot(ema(midline + factor * 5, SmoothOutside ? Smooth*5 : 1), color=black, linewidth=2)
p5 = plot(ema(midline + factor * 8, SmoothOutside ? Smooth*8 : 1), color=black, linewidth=1)
p6 = plot(ema(midline + factor * 13, SmoothOutside ? Smooth*13 : 1), color=black, linewidth=1, style=circles)
p7 = plot(ema(midline + factor * 21, SmoothOutside ? Smooth*21 : 1), color=black, linewidth=4)
p8 = plot(ema(midline + factor * 34, SmoothOutside ? Smooth*34 : 1), color=black, linewidth=1, style=circles)
p9 = plot(ema(midline + factor * 55, SmoothOutside ? Smooth*55 : 1), color=black, linewidth=1, style=circles)

//m1 = plot(midline - factor, color=black, linewidth=1, style=circles)
//m2 = plot(midline - factor * 2, color=black, linewidth=1, style=circles)
m3 = plot(ema(midline - factor * 3, SmoothOutside ? Smooth*3 : 1), color=black, linewidth=1, style=circles)
m4 = plot(ema(midline - factor * 5, SmoothOutside ? Smooth*5 : 1), color=black, linewidth=2)
m5 = plot(ema(midline - factor * 8, SmoothOutside ? Smooth*8 : 1), color=black, linewidth=1)
m6 = plot(ema(midline - factor * 13, SmoothOutside ? Smooth*13 : 1), color=black, linewidth=1, style=circles)
m7 = plot(ema(midline - factor * 21, SmoothOutside ? Smooth*21 : 1), color=black, linewidth=4)
m8 = plot(ema(midline - factor * 34, SmoothOutside ? Smooth*34 : 1), color=black, linewidth=1, style=circles)
m9 = plot(ema(midline - factor * 55, SmoothOutside ? Smooth*55 : 1), color=black, linewidth=1, style=circles)

fill(p3, p5, color=black, transp=80)
fill(m3, m5, color=black, transp=80)

fill(p4, p6, color=#ec8014, transp=80)
fill(m4, m7, color=#ec8014, transp=80)

fill(m4, m8, color=lime, transp=90)
fill(p4, p8, color=red, transp=90)

fill(p6,p7, color=maroon, transp=60)
fill(m6,m7, color=green, transp=60)
I love this indicator, I use for binary options, work for 1 candle when outside of the levels (the tails). Thanks Ricardo for the work done. There is the possibility of writing this indicator for MT4?
With love from Russia))))
Reply
np, glad you like it.
i dont code for mt4, but your free to do it or contract someone to do so.
Reply
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