vdubus

VDUB_REJECTION_SPIKE_V4 UPDATED / Re vamped & de cluttered

*Updated
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//@version=2
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)
////////////////////////////////////////////////////

Related Ideas

JayRogers
10 months ago
Fantastic job on the cleanup. Nice work!
Reply
vdubus PRO JayRogers
10 months ago
cheers buddy , get carried away sometimes throwing stuff in there. I teach this strategy alot to people so save confusion :)
Reply
cristian.d
10 months ago
I keep replacing and testing indicators on my chart template but your Rejection Spike always stays there, like volume. Thank you!
+2 Reply
cristian.d
10 months ago
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?
Reply
vdubus PRO cristian.d
10 months ago
Ignore them there stuff still in the making.. lower indicators are susceptible to divergence which when used right is an indicator in itself.
Reply
vdubus PRO cristian.d
10 months ago
I've installed a zigzag in the Rejection spike indicator. This makes for a pretty good reversal indicator.
Reply
cristian.d vdubus
10 months ago
Thanks a lot!
+1 Reply
jrocksas
16 days ago
Is this a 5 min one?
Reply
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