ChartArt

Hobble Skirt Bottom Impede Fashion (by ChartArt)

A very noisy indicator to detect bottoms and new uptrends.
Original idea by ChartArt.

First published indicator - constructive criticism welcome.
(The indicator is experimental and doesn't work most of the time.)

I would describe it as an "coincident indicator". The signals occur at approximately the same time as the conditions it signifies. Rather than predicting future events it changes at the same time to the upside as possible bottoms show up.

P.S. hobble skirt is a syllable of chart, that is how I came up with the name
"A hobble skirt was a skirt with a narrow enough hem to significantly impede the wearer's stride, and was a short-lived fashion trend around the turn of the twentieth century."

P.P.S. Bottoms are also short-lived...
Remove from Favorite Scripts Add to Favorite Scripts
study("Hobble Skirt Bottom Impede Fashion (by ChartArt)", shorttitle = "CA_Hobble_Bottom")

// version 1.0
// idea and art creation by ChartArt on 1-19-2014
//
// A very noisy indicator to detect bottoms and new uptrends.
// The indicator is experimental and doesn't work most of the time, hence the ridiculous name.
//
// list of my work: 
// https://www.tradingview.com/u/ChartArt/

switch1=input(true, title="Enable Hobble Skirt Bottom?")
switch2=input(true, title="Enable Fashion?")
switch3=input(true, title="Enable Impede?")

skirt = low[0]-low[1]
hobble_skirt = ((skirt[0]-skirt[1])+(skirt[0]-skirt[2]))/2
bottom=low[0]>low[1] ? green : red
impede=(low[0]>low[1] or low[1]>low[2]) and (high[0]>high[1] or high[1]>high[2]) and (hl2[0]>hl2[1] or hl2[1]>hl2[2]) and skirt>0 ? green : red
fashion_length = input(3, title="Fashion Length")
fashion=ema(hobble_skirt,fashion_length)

plot(switch1?hobble_skirt:na, color=bottom, linewidth=3)
plot(switch2?fashion:na, color=aqua, linewidth=2, linewidth=1)
bgcolor(switch3?impede:na, transp=80)
Here is a weekly Bitcoin chart with the Hobble Skirt Bottom Impede Fashion:

snapshot



And a monthly chart with this indicator:

snapshot
Reply
ChartArt ChartArt
And a 1 hour chart with the "impede" as background color.

snapshot
Reply
ChartArt ChartArt
4 hour chart:

snapshot
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
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