OPEN-SOURCE SCRIPT
PrevHighLow Trend Indicator
Updated
PrevHighLow Trend Indicator which is calculated by using prev lowest and highest of p1-period and p2-period for two MAs.
First MA is made of prev highest of p1-period / prev lowest of p1-period.
Second MA is faster, made up of p2(<p1)- period(same formula).
Can be used in the next way: slower MA(straight line) shows main trend, faster shows temporary trend.
BUY, when first MA and second MA are green; Exit: second MA changes from green to red.
SELL, when first MA and second MA are red; Exit: second MA changes from red to green.
RSI Assistant basically filtres signals in the way, when signals from RSI and Faster MA are similar? it signals about it with labels: BUY for long, SELL for short. You can either enable or disable it. Also customizable so you can find your setup. RSI Assistant, depending on you customize it, can help you either follow trend or show reversals. Just find your own setup and watch things happen!
Feel free to leave valuable feedback and your setups which you consider to be good.
Hope you PHLTI usefull. Good luck!
First MA is made of prev highest of p1-period / prev lowest of p1-period.
Second MA is faster, made up of p2(<p1)- period(same formula).
Can be used in the next way: slower MA(straight line) shows main trend, faster shows temporary trend.
BUY, when first MA and second MA are green; Exit: second MA changes from green to red.
SELL, when first MA and second MA are red; Exit: second MA changes from red to green.
RSI Assistant basically filtres signals in the way, when signals from RSI and Faster MA are similar? it signals about it with labels: BUY for long, SELL for short. You can either enable or disable it. Also customizable so you can find your setup. RSI Assistant, depending on you customize it, can help you either follow trend or show reversals. Just find your own setup and watch things happen!
Feel free to leave valuable feedback and your setups which you consider to be good.
Hope you PHLTI usefull. Good luck!
Release Notes
Big update:+ Filter switching(enable or disable any filter you want);
+ MACD filter;
+ RSI+MACD filter;
+ Much cleaner code documentation.
+ Different colours for different types of signals, so it is easier to distinguish them;
+ Signals' names are now short, so you can read them easier, here they are:
Signals meaning(!)
SB = Strong BUY;
SS = Strong SELL;
MB = MACD BUY;
MS = MACD SELL;
RB = RSI BUY;
RS = RSI SELL;
MRB = MACD+RSI BUY;
MRS = MACD+RSI SELL.
Important: as indicator is new and "young", it is still in the development, so signals are not that accurate as in the premium and cool indicators, so I will be grateful to anybody who will bring new ideas or tips to improve this thing. And please consider that I am only 18y.o. and thus not a professional, just trying to make something valueable and seeking help from other people.
Wish you enjoy it. Good luck and feel free to leave valueable feedback!
Release Notes
Update:+ Option for offsetting signals: classic offset and ATR offset with customisable period(might be useful enough, check it out!);
+ Some tooltips.
Release Notes
Quick adds and cleaning text mess.Release Notes
Update:+ Price source smoothing via MAs: 11 types of smoothing, choosing source and period
(Check the tooltip for explanation, but in short: it gives you the option for either smoothing price source or not);
+ More tooltips.
Release Notes
Update:+ COG filter - uses statistics and Fibonacci ratio, usually show accurate trend;
+ COG+MACD filter = COG filter + MACD filter;
+ More tooltipd.
Release Notes
+ Quick update for tooltips and title of slow and fast MA.Release Notes
+ Improved signal filter for MACD and RSI;+ Timeframe choosing option.
Release Notes
+ Added alert conditions for RSI signals, as they are the most accurate.Release Notes
+ Changed default filter settings for optimal perfomance(reversal trading with high sensetivity);+ Updated alerts(SIGNAL optin - catches any RSI signal(buy or sell). It is option for people with no subscription, like myself).
Important: when using offset for signals, consider that whenever you get noti about signal, signal's label will appear on the n-bar in the future, where n - offset number. Please consider this!
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 publication is governed by House rules. You can favorite it to use it on a chart.
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Disclaimer
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