POC bands 2.0 and other assorted goodies

I updated my old indicator that plotted a Kalman filter avg . of the bars inside a higher timeframe bar, to attempt to find the most frequent price in that bar's timespan.
It ended up being somewhat close, but not exact, but the result is that you get a pseudo-vwap without a need for volume data, that isn't cumulative and can indicate trend direction, or if the market's ranging.
This is very powerful information!

I highlight a trade setup we get here, derived from observing the indicator's slope and knowing how to read price action, assisted by rgmov and cci readings.
To get the code for the other indicator's you will have to click on share, and then on 'Make it mine' so you get the whole layout.

Good luck and hope you find these of use.

A few uses...
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.

Want to use this script on a chart?
study(title = "POC bands 2.0", shorttitle="POCB", overlay=true)
resCustom = input(title="Timeframe", type=resolution, defval="240")
Length = input(6, minval=1)
xPrice = security(tickerid, resCustom, hlc3)
xvnoise = abs(xPrice - xPrice[1])
nfastend = 0.666
nslowend = 0.0645
nsignal = abs(xPrice - xPrice[Length])
nnoise = sum(xvnoise, Length)
nefratio = iff(nnoise != 0, nsignal / nnoise, 0)
nsmooth = pow(nefratio * (nfastend - nslowend) + nslowend, 2) 
nAMA = nz(nAMA[1]) + nsmooth * (xPrice - nz(nAMA[1]))
basis = nAMA
atr = ema(tr,11)
upper = basis[3] + (atr*3)
lower = basis[3] - (atr*3)

plot(basis, color=blue)
plot(upper, color=blue)
plot(lower, color=blue)
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I give it a try to your indicator that seems great especially if it can help get trend direction and market ranging ‘ but do you recommend high TF as daily in your example ? Do I have to change and set up parameters of your indicator according to the TF or better not change the original set up 4 h length 6
Also, You’ re talking about a trade setup derived from observing the indicator's slope and knowing how to read price action, assisted by rgmov and cci readings. I don’t find the share button to make it mine and get the whole lay out
Can you help on this one ? Thanks a lot !!
Do you recommend to use others indicators of yours ‘ more updated or evolved one ?
Thanks ‘
IvanLabrie Iodasama
@Iodasama, hi, try the indicator alone, the extra stuff will help but you need to subscribe to a paid indicator set (Key Hidden Levels) to get the RgMov (contact @timwest if interested in it, includes other really useful things, like key levels of support and resistance, high volume key levels, etc)

Stick to the daily chart and apply the indicator alone on charts. You can trade breakouts after the middle line goes flat for a few days, and aim for the bands to exit.
Iodasama IvanLabrie
@IvanLabrie, thanks a lot for your full answer !! 👍 yep I am gonna do that !! I had guessed that it was kind of indicator to be used on Daily TF !!
Thanks a lot for your advice too !! I am gonna stick to what you explained !! Thanks man
Iodasama IvanLabrie
@IvanLabrie, thanks man for posting this chart!! I appreciate 👍 clear and explicit !!
it repaint... :(
Lov it. Flat center line == ranging.
Tqvm @ IvanLabrie
IvanLabrie sufianlau
@sufianlau, yes it's actually quite useful to read price action.
Can you script POC - point of control?
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