Trend v4.0 Another update

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Yet another update, default settings can be customized to your needs. Be aware that while this is similar to the other versions, this can only repaint an active bar, but that slows it down by one period. You are warned. Be that as it may, the basic idea is the same; trying to capture the really strong moves into overbought or oversold territory as defined by Relative Strength index . In RSI mode, you can see the smoothing has slowed it down a bit, but warrants backtesting.
First green bar go long, First red bar go short, first white bar possible trend exhaustion. Or use crossovers and such, play with the inputs OB/OS, RSI length, signal length, tick length, swing length, as I said customize to your tastes. I offer no surety as to its efficacy, but we all learn.
Trade Responsibly,
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study("Trend v4.0", overlay=true)
overlay = input(false, title="Show Trend Color?")
mode    = input(false, title="RSI mode?")
Period  = input(4, title="Length")
Period2 = input(10, title="Signal")
src     = input(ohlc4, title="Source", type=source)
up      = security(tickerid,period,rma(max(change(src), 0), Period),false)
down    = security(tickerid,period,rma(-min(change(src), 0), Period),false)
rsi     =  ema(down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down)),Period2)
OB      = input(50)
OS      = input(50)
trend   = rsi>wma(rsi,Period2) and rsi>=OB?teal:rsi<wma(rsi,Period2) and rsi<=OS?maroon:na
trendid = rsi>wma(rsi,Period2) and rsi>=OB?1:rsi<wma(rsi,Period2)  and rsi<=OS?-1:0
p1      = input(defval=3,minval=2,title="Up length")
p2      = input(defval=3,minval=2, title="Down length")
p3      = input(8, title="Swing threshold", minval=0)
cross_s = cross(sma(hlc3,p1) , sma(hlc3,p2)[1])
tick = barssince(cross_s)
barcolor(overlay?trend:na, color=trend)
rsio    = rsi>=OB?rsi:rsi<=OS?rsi:na
plotshape(tick>=p3?tick:na, style=shape.square, color=white, transp=0, location=location.bottom)
plotshape(trendid==1?trendid:na, style=shape.square, color=tick>=p3?white:teal, location=location.bottom, transp=0)
plotshape(trendid==-1?trendid:na,style=shape.square, color=tick>=p3?white:maroon,location=location.bottom, transp=0)
plot(mode?rsi:na, color=white,linewidth=2, transp=0)
plot(mode?wma(rsi,Period2):na, color=maroon,linewidth=2, transp=0)
plot(mode?OB:na, color=#2F4F4F, transp=0)
plot(mode?OS:na, color=#2F4F4F, transp=0)
Hello! Thanks great Scripts. May I get your timeframe style? Best!
I am an option trader, and spend my days and nights staring at the 4hr and 1hr time frame, executing on 15 / 5 min time frames. I scalp for a living...sort of.
Hope that is what you wanted as any tool that helps me is useful, until it isn't anymore, and then it goes back on the shelf, where new(old) tools wait patiently to earn their keep.
Happy Trading,
dsmax.s ShirokiHeishi
Thanks for your reply. I already made it, but I cannot see OHLC... I tried to fix it for my chart, I cannot do it.
Happy Trading too you.
Hello Shiroki.....could the "Precision" drop down box be added to the Style tab? Thanks.
ShirokiHeishi TonyCampbell
I tried, to address the issue, but to be frank, I cannot figure it out, I added it to my copy along with editable function and it doesn't show up. I am at a loss for now.
Any timeframe ?
Functions in all time frames. My preference is 4hr and 5 minute, that is where I am testing it
ChartArt ShirokiHeishi
Thanks for sharing. I tested it. Your default setting seems to lag too much and due to that uptrends are shown too often as downtrends. I prefer the setting length "4" with signal "4".
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