RicardoSantos

[RS][UNTESTED]CAP Fibo Channel V2

836 2 115
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 .
Remove from Favorite Scripts Add to Favorite Scripts
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
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out