RicardoSantos

[RS]jangseohee NYSE - NHNL Indicator

Request for jangseohee: added fractal channels as a extra :p
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?
study("[RS]jangseohee NYSE - NHNL Indicator V0")
timeperiod = input("D")
NH = security("HIGN", timeperiod, close)
NL = security("LOWN", timeperiod, close)
plot(NH, color=green, style=columns)
plot(-NL, color=maroon, style=columns)

showvectorchannel1 = input(true)
showvectorchannel2 = input(false)
showvectorchannel3 = input(false)
showvectorchannel4 = input(false)
showvectorchannel5 = input(false)

topvc1 = NH[2] < NH[1] and NH[1] > NH[0]
botvc1 = NL[2] < NL[1] and NL[1] > NL[0]

topv1 = topvc1 ? NH[1] : na
botv1 = botvc1 ? -NL[1] : na

plot(showvectorchannel1 ? topv1 : na, color=silver, offset=-1)
plot(showvectorchannel1 ? botv1 : na, color=silver, offset=-1)

topvc2 = topvc1 and valuewhen(topvc1, topv1, 1) < topv1
botvc2 = botvc1 and valuewhen(botvc1, botv1, 1) > botv1

topv2 = topvc2 ? NH[1] : na
botv2 = botvc2 ? -NL[1] : na

plot(showvectorchannel2 ? topv2 : na, color=gray, offset=-1)
plot(showvectorchannel2 ? botv2 : na, color=gray, offset=-1)

topvc3 = topvc2 and valuewhen(topvc2, topv2, 1) < topv1
botvc3 = botvc2 and valuewhen(botvc2, botv2, 1) > botv1

topv3 = topvc3 ? NH[1] : na
botv3 = botvc3 ? -NL[1] : na

plot(showvectorchannel3 ? topv3 : na, color=black, offset=-1)
plot(showvectorchannel3 ? botv3 : na, color=black, offset=-1)

topvc4 = topvc3 and valuewhen(topvc3, topv3, 1) < topv1
botvc4 = botvc3 and valuewhen(botvc3, botv3, 1) > botv1

topv4 = topvc4 ? NH[1] : na
botv4 = botvc4 ? -NL[1] : na

plot(showvectorchannel4 ? topv4 : na, color=black, offset=-1)
plot(showvectorchannel4 ? botv4 : na, color=black, offset=-1)

topvc5 = topvc4 and valuewhen(topvc4, topv4, 1) < topv1
botvc5 = botvc4 and valuewhen(botvc4, botv4, 1) > botv1

topv5 = topvc5 ? NH[1] : na
botv5 = botvc5 ? -NL[1] : na

plot(showvectorchannel5 ? topv5 : na, color=black, offset=-1)
plot(showvectorchannel5 ? botv5 : na, color=black, offset=-1)