this indicator is for use with the Rejection Spike Strategy I recently publish
Have't had chance to test it yet so feel free to try.
Details of the strategy are listed in the link below
Have't had chance to test it yet so feel free to try.
Details of the strategy are listed in the link below
study(title="VDUB_RejectionSpike_v1", shorttitle="VDUB_RejectionSpike_v1", overlay=true) //==============================inside channel===============================================// len = input(20, minval=1, title="Length") src = input(close, title="Source") out = ema(src, len) plot(out, title="EMA", color=red) last8h = highest(close,13) lastl8 = lowest(close, 13) plot(last8h, color=black,style=line, linewidth=3) plot(lastl8, color=black,style=line, linewidth=3) bearish = cross(close,out) == 1 and close[1] > close bullish = cross(close,out) == 1 and close[1] < close plotshape(bearish, color=red, style=shape.triangledown, text="", location=location.abovebar) plotshape(bullish, color=green, style=shape.triangleup, text="", location=location.belowbar) //-------------LB Range--------------------------- channel=input(false, title="channel") up = close<nz(up[1]) and close>down[1] ? nz(up[1]) : high down = close<nz(up[1]) and close>down[1] ? nz(down[1]) : low ul=plot(channel?up:up==nz(up[1])?up:na, color=navy, linewidth=4, style=linebr, title="Up") ll=plot(channel?down:down==nz(down[1])?down:na, color=navy, linewidth=4, style=linebr, title="Down") //==============================Outside channel===============================================// length1 = input(13, minval=1, title="Upper Channel") length2 = input(13, minval=1, title="Lower Channel") upper = highest(length1) lower = lowest(length2) basis = avg(upper, lower) l = plot(lower, style=circles, linewidth=2, color=lime) u = plot(upper, style=circles, linewidth=2, color=lime) fill(u, l, color=white, transp=75, title="Fill") //============================zigzag======// length = input(5) showBasis = input(false) hls = ema(hl2, length) plot(not showBasis ? na : hls, color=black) isRising = hls >= hls[1] zigzag = isRising and not isRising[1] ? lowest(length) : not isRising and isRising[1] ? highest(length) : na plot(zigzag, color=black) //============================Ichomku cloud show_cloud = input(true, title="Display Ichimoku Cloud:") conversionPeriods = input(34, minval=1) basePeriods = input(26, minval=1) laggingSpan2Periods = input(52, minval=1) displacement = input(26, minval=1) donchian(len) => avg(lowest(len), highest(len)) conversionLine = donchian(conversionPeriods) baseLine = donchian(basePeriods) leadLine1 = avg(conversionLine, baseLine) leadLine2 = donchian(laggingSpan2Periods) plot(not show_cloud ? na : conversionLine, color=blue,linewidth=3, style=line, title="Mid line resistance levels") //plot(baseLine, color=red, title="Base Line") //plot(close, offset = -displacement, color=green, title="Lagging Span") p1 = plot(not show_cloud ? na : leadLine1, offset = displacement, color=green, title="Lead 1") p2 = plot(not show_cloud ? na : leadLine2, offset = displacement, color=red, title="Lead 2") fill(p1, p2) //-------------------------------------------------------------