Patrick's Buy Histogram — Indicator by patrickestarian

commodities commodity oil buy signal indicator patrick star oscillator

Set up a trailing stop at about 0. Look for the red dots.and that's a good point to enter a long trade.

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(title="Patrick's Buy Signal", shorttitle="Patrick's Buy Signal", overlay=false)
len1 = input(title="EMA Len 1", type=integer, defval=4, minval=1)
len2 = input(title="EMA Len 2", type=integer, defval=2, minval=1)
len3 = input(title="EMA Len 2", type=integer, defval=3, minval=1)

hline(0, color=gray, linewidth=1, linestyle=line, title="Zero Line")

typical = (high + low + close) / 3
ema1 = ema(typical, len1)
ema2 = ema(typical, len2)

D = 100*(ema2/ema1)-100
L = ema(D, len3)
//plot(D, color=blue, linewidth=1, title="Slower Moving Average")
//plot(L, color=red, linewidth=1, title="Faster Moving Average")

agl = atan(L-L[1])*10
diff = agl-agl[1]
plot(diff, color=black, linewidth=1, title="Oscillator")

bsig = iff (diff>0 and diff[1]<0, 0.1, 0)
plot(bsig, color=red, style=histogram, linewidth=5, title="Buy Histogram")