LonesomeTheBlue

Sell / Buy Rates

This script finds sell / buy rates and adds its linear regression to the chart. its aim is finding buying and selling power, then you can try to find trend reversals. Also you can find divergences, it's very important signal for trend reversal.

Linear regression is a basic and commonly used type of predictive analysis.

if you choose lower periods then it will be more sensitive. I choose 34 as it's one of fibonnaci number.


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Release Notes: Shorter code and some improvements
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Comments

Mate, you can simplify a life with:

tw = high - max(open, close)
bw = min(open, close) - low
body = abs(close - open)

_rate(cond) => 0.5 * (tw + bw + (cond ? 2 * body : 0)) / (tw + bw + body)

uprate = _rate(open <= close)
downrate = _rate(open >= close)

and add precision=0 to study() to avoid big numbers (see AAPL)
+6 Reply
@everget, thanks mate, OK I'm gonna make it shorter ;)
+2 Reply
Could you please say what do the colors mean
Green
Dark Green

Red
Dark Red
?
+5 Reply
Le falta las flechas de compra y venta, me parece
+1 Reply
hi @dos32101, Pine script doesn't allow to add arrow on the chart when indicator is in another window. (overlay = false or true, can not be both).
+1 Reply
This is: _rate(cond) => 0.5 * (tw + bw + (cond ? 2 * body : 0)) / (tw + bw + body)
Especially: (cond ? 2 * body : 0)

What is the basic functionale (mathematicaL) reason (purpose) here?
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LOVE this! Thank you!
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Seu trabalho ficou incrível aqui. Assim que começar a operar com ele, e tiver bons resultados é claro, vou lembra de você. Um abraço e sucesso.
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@LonesomeTheBlue : Thanks for sharing the indicator,I appreciate your hard work.
Could you please suggest, which indicator you used in the main chart for showing the ARROW
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Thank you Sir! I am no coder but I have a good backtest done here with this and think this may help scalp the Micro NQ pretty well. I will keep you posted. If you have recommendations I am all ears. And thank you for the dedicated work sir! From Austin TX USA!
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