Similarity Search, Karobein and Seasonal Random Index

Similarity Search, Karobein oscillator (KO) and Seasonal Random Index (SRI)

Description:

This indicator uses dynamic capabilities of Pinescript version 4 coupled with Seasonal Random Index (SRI) and Karobein Oscillator (KO). SRI (green/red areas) is employed to detect trends and KO (black curce) is used to find historical similarities to predict the next bar's direction. The midline arrows are the predictions produced by the similarity search algorithm.

Release Notes:

A note on the Similarity Search Algorithm

The Similarity Search Algorithm is based on the assumption that a centralized osccilator bound to a predefined range of values has got a predictive power. The above algorithm is looking for historical similarity given a stretch of the most recent bars.

Release Notes:

Minor edit.

Release Notes:

Typos fix. All typos are mine))