Firefly Oscillator [LazyBear]

This is a modified version of a public Amibroker indicator, called Firefly.

I disabled the additional smoothing (you can enable it via options page) and updated the visual rendering (simple 3D look, histo, bar colors et al). Also, have added an option to show enclosing BB.

You can trade this like any other oscillator -- 80/20 OB/OS levels, divergences, ...

Here's a chart showing some possible customizations that are supported:

Do let me know what you guys think.

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Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?
// @author LazyBear 
// List of my public indicators: 
// List of my app-store indicators: 
// Original idea from a public Amibroker indicator published by @Yasu
study(title = "Firefly Oscillator [LazyBear]", shorttitle="FIREFLY_LB")
m=input(10,title= "Lookback Length", minval= 5, maxval=20)
n1=input(3, title="Signal Smoothing", minval=3, maxval=10)
as=input(false, title="Double smooth Osc")
bt=input(false, title="Use ZLEMA")
seb=input(false, title="Show Enclosing BB")
lbb=input(20, title="Enclosing BB Length")
mbb1=input(2.0, title="Enclosing BB Multiplier")
hbr=input(false, title="Highlight Breaches")
ebc=input(false, title="Enable bar colors")
calc_zlema(src, length) =>
	ema1=ema(src, length)
	ema2=ema(ema1, length)
ma(s,l) => bt==false?ema(s,l):calc_zlema(s,l)
plot(ww!=50 and mm!=50 and ((ww>50 and mm>50) or (ww<50 and mm<50))?50:na, color=gray, style=linebr, title="Midline")
plot(seb?na:d, title="Histo", linewidth=2, color=dc, histbase=50, style=histogram) 
wwl=plot(ww, title="Oscillator", linewidth=1, color=red) 
mml=plot(mm, title="Signal", linewidth=1, color=green) 
fill(wwl,mml,red, transp=60, title="OscillatorSignal Fill")
basis = seb?sma(ww, lbb):na
dev = seb?mbb1 * stdev(ww, lbb):na
upper = seb?basis + dev:na
lower = seb?basis - dev:na
// Uncomment the next line to show BB midline
//plot(basis, color=#0066CC, title="Enclosing BB Mid") 
p1 = plot(seb?upper:na, color=gray, title="Enclosing BB Upper")
p2 = plot(seb?lower:na, color=gray, title="Enclosing BB Lower")
fill(p1,p2, gray, title="Enclosing BB Fill")
b_color = (ww > upper) ? red : (ww < lower) ? green : na
bgcolor(hbr ? b_color : na)