ucsgears

UCS_Top & Bottom Candle

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This is an experimental Indicator based on Momentum . Picks the Top & Bottom Candle for most Swing. Please post your opinion or suggestion to improve this indicator.

I have not back tested this completely. This is recently developed Indicator.

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//Short Term Top and Bottom Candle Identifier
//Code by UCSgears

study("UCS_Top & Bottom Candle", shorttitle = "UCS_T&B", overlay=false)

a = input(5, "Percent K Length")
b = input(3, "Percent D Length")

// Range Calculation
ll = lowest (low, a)
hh = highest (high, a)
diff = hh - ll
rdiff = close - (hh+ll)/2

// Nested Moving Average for smoother curves
avgrel = ema(ema(rdiff,b),b)
avgdiff = ema(ema(diff,b),b)

// Momentum
mom = ((close - close[b])/close[b])*1000


// SMI calculations
SMI = avgdiff != 0 ? (avgrel/(avgdiff/2)*100) : 0
SMIsignal = ema(SMI,b)

//All PLOTS
plot(mom, title = "Momentum", style = columns, color = yellow)
plot(SMI, title = "Stochastic Momentum Index")
plot(SMIsignal, color= red, title = "SMI Signal Line")

H1 = hline(40, color = red, title = "Over Bought")
H2 = hline(-40, color = green, title = "Over Sold")
H0 = hline(0, color = blue, title = "Zero Line")
fill(H0,H2, color = green, title = "Oversold")
fill(H0,H1, color = red, title = "Overbought")
//END

// Strategy Signals 
// Buy Setup
long = SMI < -35  and mom > 0 and mom[1] < 0 ? lime : na
barcolor(long)

// Short Setup
short = SMI > 35  and mom < 0 and mom[1] > 0 ? red : na
barcolor(short)
ucsgears PRO
2 years ago
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ScorchedShore PRO ucsgears
5 months ago
I am not seeing the arrows on my chart. Any modification to code I need to do?
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ucsgears PRO
2 years ago
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ucsgears PRO
2 years ago
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2use
2 years ago
Cool! Any idea on how it performs on currencies and within the day trading - shorter than daily term trades?
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ucsgears PRO 2use
2 years ago
May be you can back test on currency pair and post suggestions to improve. Play around with the settings, So far, I have only tested it briefly on stocks, with the same settings, haven't found any other better settings yet.
+1 Reply
2use ucsgears
2 years ago
Ok, ill see if i can use it
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ucsgears PRO 2use
2 years ago
Mathematically it should work. We are trying to pick the turning point in Swings, by looking for raw indicator and smooth version of the same. SMI vs ROC combination is one. Fast and Full Stochastic is another one, Smooth CCI vs Raw CCI will potentially be another one. They all measure the same (ignore the scales, ie., They Swing around Zero or the Median Line).
+2 Reply
jackvmk
2 years ago
snapshot


good early signals.
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jackvmk
2 years ago
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good early signals.
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ucsgears PRO
2 years ago
Did you guys Enjoy the beauty of the exit/top prediction on SPY. As posted? The Top candle was identified on 02-27-2015
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godforex
2 years ago
I have been studying this indicator for about 3 days only and started using it for 2 days, i have made more profit in the last 2 days than i have in 2 weeks!!!!!!!
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ucsgears PRO godforex
2 years ago
I will post the code to plot arrows, today
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godforex
2 years ago
i trade low time frames and it works wonders
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webplc godforex
a year ago
I try to use this indicator with low time frame too. Could you help me to configure and use it ?
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godforex
2 years ago
Ucgears are you able to add a colour coded arrow also over the highlighted price? as that would be perfect!
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stenor PRO
2 years ago
I really like this indicator. I like the oscillator part of it best. Trade it in the direction of the major trend and the signals are very good. Thanks for sharing this with us.
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ucsgears PRO stenor
2 years ago
This was the Basic backbone of the research (developed an year ago, been testing this at various market and conditions), Further advancement is due, as I complete them.
+1 Reply
nheminism21 PRO ucsgears
2 years ago
excellent...please post an update soon...you are the man
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tradetickers
2 years ago
Can this be used on think or swim?
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ucsgears PRO tradetickers
2 years ago
Yes, if you can code this.
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syracusepro
9 months ago
Thanks a lot.
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helloboy73
4 months ago
Hello, I would like to try all of these indicators (of ucsgears) in my Multicharts...I see that the code must be changed to make it work in MC! how should I do? There are somewhere in the precise codes to be copied and compiled? (sorry my english) thanks
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Robbins2
a month ago
Great indicator, any way you code the arrows into this indicator?
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