VDUB_REJECTION_SPIKE_V4 UPDATED / Re vamped & de cluttered

Remove from Favorite Scripts Add to Favorite Scripts
study("VDUB_REJECTION_SPIKE_V4", overlay=true, shorttitle="VDUB_REJECTION_SPIKE_V4")
//====================channel 1==========================
len = input(55, minval=1, title="EMA LENGTH")
src = input(close, title="Source 1")
out = ema(src, len)
plot(out, title="EMA", color=blue, style=circles, linewidth=1)
last8h = highest(close, 13)
lastl8 = lowest(close, 13)

plot(last8h, color=black, linewidth=1, title="Upper channel 1")
plot(lastl8, color=black, linewidth=1, title="Lower channel 1")

bearish = cross(close,out) == 1 and close[1] > close 
bullish = cross(close,out) == 1 and close[1] < close 

//======================channel 2==================================
len0 = 34
src0 = input(close, title="Source 2")
out0 = sma(src0, len0)
last8h0 = highest(close, 34)
lastl80 = lowest(close, 34)
bearish0 = cross(close,out) == 1 and falling(close, 1)
bullish0 = cross(close,out) == 1 and rising(close, 1)
channel20=input(true, title="Bar Channel On/Off")
ul20=plot(channel20?last8h0:last8h0==nz(last8h0[1])?last8h0:na, color=black, linewidth=2, style=linebr, title="Upper channel 2", offset=0)
ll20=plot(channel20?lastl80:lastl80==nz(lastl80[1])?lastl80:na, color=black, linewidth=2, style=linebr, title="Upper channel 2", offset=0)

// Moddified [RS]Support and Resistance V0
RST = input(title='Support / Resistance length:', type=integer, defval=16)     //
RSTT = valuewhen(high >= highest(high, RST), high, 0)
RSTB = valuewhen(low <= lowest(low, RST), low, 0)
RT2 = plot(RSTT, color=RSTT != RSTT[1] ? na : red, linewidth=2, offset=+0)
RB2 = plot(RSTB, color=RSTB != RSTB[1] ? na : green, linewidth=2, offset=0)

// ZIGZAG -----------------------------------------------//
length = input(4, title="Zigzag Length")
hls = rma(hl2, length)
isRising = hls >= hls[1]

zigzag1 = isRising and not isRising[1] ? lowest(length) :  not isRising and isRising[1] ? highest(length) : na
plot(zigzag1, color=blue, style=line, linewidth=2)

just awesome...u r vdubus
Is this a 5 min one?
Do you have a favorite tool to filter the false reversal signals, especially in a strong trend besides the Vdub tetris? What is that indicator on bottom chart, VdubBinaryPro?
vdubus cristian.d
Ignore them there stuff still in the making.. lower indicators are susceptible to divergence which when used right is an indicator in itself.
vdubus cristian.d
I've installed a zigzag in the Rejection spike indicator. This makes for a pretty good reversal indicator.
Thanks a lot!
+1 Reply
I keep replacing and testing indicators on my chart template but your Rejection Spike always stays there, like volume. Thank you!
+2 Reply
Fantastic job on the cleanup. Nice work!
vdubus JayRogers
cheers buddy , get carried away sometimes throwing stuff in there. I teach this strategy alot to people so save confusion :)
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