This implements a use of golden mean in an indicator. Above the moneymaker is bullish; below is bearish. Seems to work fairly well in eu H1.
//@version=4
//developed as a public service of orangequant1
study("goldmean",overlay=false)
pipdiffhi = (high-high)*10000
pipdiffclo = (close-close)*10000
endcalchi = (pipdiffhi -1.61803398875)/1.61803398875
endcalcclo = (pipdiffclo -1.61803398875)/1.61803398875
zeroline = 0.0
purple = color.purple
green = color.green
black = color.black
plot (endcalchi,linewidth=3,color=purple)
plot (endcalcclo,linewidth=3,color=black)
plot (zeroline,linewidth=2,color=green)
//@version=4
//developed as a public service of orangequant1
study("goldmean",overlay=false)
pipdiffhi = (high-high)*10000
pipdiffclo = (close-close)*10000
endcalchi = (pipdiffhi -1.61803398875)/1.61803398875
endcalcclo = (pipdiffclo -1.61803398875)/1.61803398875
zeroline = 0.0
purple = color.purple
green = color.green
black = color.black
plot (endcalchi,linewidth=3,color=purple)
plot (endcalcclo,linewidth=3,color=black)
plot (zeroline,linewidth=2,color=green)
Comment:
Dangit, I don't know why TV does this, but it drops "brackets" from posts. Sigh. So, (high-high) should read with a bracketed 1 at the end of the second high. And, (close-close) should read with a bracketed 1 at the end of the second close. If that isn't clear, just pm me for correct code.