Stock Jock

Bungee

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Wavy Tunnel Trading Method
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study(title="Bungee", shorttitle="Bungee")

OverBought = hline(80)
OverSold = hline(20)

length1 = input(76, minval=1), smoothK1 = input(4, minval=1), smoothD1 = input(4, minval=1)
k1 = sma(stoch(close, high, low, length1), smoothK1)
plot(k1, color=orange)

length2 = input(3, minval=1), smoothK2 = input(3, minval=1), smoothD2 = input(3, minval=1)
k2 = sma(stoch(close, high, low, length2), smoothK2)
plot(k2, color=green)

length3 = input(16, minval=1), smoothK3 = input(3, minval=1), smoothD3 = input(3, minval=1)
k3 = sma(stoch(close, high, low, length3), smoothK3)
plot(k3, color=blue)

length4 = input(8, minval=1), smoothK4 = input(3, minval=1), smoothD4 = input(3, minval=1)
k4 = sma(stoch(close, high, low, length2), smoothK4)
plot(k4, color=red)

length5 = input(14, minval=1)
upper = highest(length5)
lower = lowest(length5)
WP = 100 * (upper - close) / (upper - lower)
plot(WP, color=purple)

length6 = input(2, minval=1)
up = rma(max(change(close), 0), length6)
down = rma(-min(change(close), 0), length6)
RSI = down == 0 ? 100 : up == 0 ? 0 : 100 - (100 / (1 + up / down))
plot(RSI, color=black)
Here you make mistake.

length5 = input(6, minval=2)
upper = highest(length5)
lower = lowest(length5)
WP = 100 + (-100 * (upper - close) / (upper - lower))
plot(WP, color=purple)
+1 Reply
in line 19 there will be length4 instead of length2 in formula of k4
Reply
almost like a picasso
Reply
HI,Friend
thank you for your sharing "bungee",i like it very much,But your indicators have a small error(length5 is error),can you help me to fix it? thank you very much.

Best regards
Reply
thanks for this interesting indicator. could you explain how it track elliiot waves?
+2 Reply
Stock Jock jackvmk
Sorry, but I've been trying to delete this post; because I discovered errors in my code after I posted it.
+1 Reply
jackvmk Stock Jock
no problem mate, i could wait version 2.
+1 Reply
Stock Jock jackvmk
It's really not possible to explain how this works with the Elliot Wave in a forum, because it's extremely complicated. This type of training has been done online classes. It's called the "Wavy Tunnel Trading System". I'm not trying to avoid your question, but the class is several months of online webinars that can't be explained in a few messages. Your welcome to use my indicators though.
+1 Reply
jackvmk Stock Jock
i read something about wavy tunnel method and i only found regee's wave, vegas tunnel and 12 ema indicators in it. i cant found anything about bungee's signals.
+1 Reply
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