LazyBear

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:
snapshot

Do let me know what you guys think.

List of my public indicators: http://bit.ly/1LQaPK8
List of my app-store indicators: http://blog.tradingview.com/?p=970
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//
// @author LazyBear 
// 
// List of my public indicators: http://bit.ly/1LQaPK8 
// List of my app-store indicators: http://blog.tradingview.com/?p=970 
//
// 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)
	d=ema1-ema2
	ema1+d
ma(s,l) => bt==false?ema(s,l):calc_zlema(s,l)
v2=(high+low+close*2)/4
v3=ma(v2,m)
v4=stdev(v2,m)
v5=(v2-v3)*100/iff(v4==0,1,v4)
v6=ma(v5,n1)
v7=as?ma(v6,n1):v6
ww=(ma(v7,m)+100)/2-4 
mm=highest(ww,n1) 
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")
d=ww>50?min(ww,mm):mm<50?max(ww,mm):na
dc=d>50?d>d[1]?green:orange:d<d[1]?red:orange
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)
bc=ebc?d>50?d>d[1]?lime:orange:d<d[1]?red:orange:na
barcolor(bc)
Hey lazybear, really good job on the indicator. Thank you for sharing :)
Reply
LazyBear PRO moneymaking
YW :)
Reply
Some charts:

MSFT did a nice W:
snapshot


EURUSD - osc doing a good runup:
snapshot

+1 Reply
Thank you very much Lazybear! This indicator made it through my benchmark with an "A". Firefly gives really good signals as you can see here:

snapshot
+1 Reply
ChartArt ChartArt
ZeroLagEMA is very aggressive and distorting the signal too much:

snapshot
+1 Reply
ChartArt ChartArt
Bitcoin could be at the bottom here in May 2015, if enough people feel the same way:

snapshot
+1 Reply
Better to wait for an uptick.
+1 Reply
YW. Glad to hear it paused your tests :)

For quick entries/exits, make sure Double smoothing is OFF.
Reply
* passed.

Damn autocorrect.
Reply
can you make a firefly version of IMACD
Reply
LazyBear PRO QuantitativeExhaustion
Firefly version? Can you give me more details?
Reply
Ribbons on both up and down with IMACD
Reply
LazyBear PRO QuantitativeExhaustion
Lemme try, though it is not gonna be a simple visual enhancement (since the signals wont align well).
+1 Reply
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