Currently tracks the 4 following oscillators:
- (Channel Commodity Index)
- ( Index)
- VZO ( Zone Oscillator)
- ( )
Any feedback or suggestions highly appreciated.
/* Inspiration taken from @ByzantineGeneral (TradingView profile: /u/ByzantineGeneral, indicator: /script/keAGdnWO-Byzantium-Oscillator-Heatmap) */
- Changed levels (editable = false) -> These where transparent 100% anyways so made the input screen unorganized.
- Changed plot (editable = false) -> These where transparent 100% anyways so made the input screen unorganized.
Only the inputs that have visual difference are now being shown i.e the fill colors
On request, I added buy/long and sell/short signals dependig on certain conditions. The indicator will display those above or below the heatmap. Unfortunately, I had to add some 'whitespace' above and below the heatmap for the signals to become visible, otherwise the signals would blend in with the heatmap.
I want to keep this as a standalone indicator. If you want me to turn this into a strategy, let me know and i'll make a new script for this.
Added color gradients instead of using if/else stacks for choosing color. Thankfully, a gradient framework was already in circulation by @PineCoders
You can find the framework here:
- Removed the two 'whitespace' horizontal lines again so it looks more clean in my opinion.
- Changed the plotchart symbols to the color white so it is visible even if the oscillator has the maximum color gradient assigned.
- Added more comments to the code for better reusability
- Added input for customizing the colors that are used for the gradient (Default values: #0097A7, #9C27B0 - Bullish, Bearish)
- Removed the Oscillator inputs and turned them into constants (Default values: 14, 28, 14, 28 - RSI, VZO, MFI, CCI )
- Removed some unnecessary code: unused color constants and colors needed for previous versions
- Reformatted the code for easier source reading and reusability
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.