UCS_Top & Bottom Candle

This is an experimental Indicator based on Momentum. Picks the Top & Bottom Candle for most Swing. Please post your opinion or suggestion to improve this indicator.

I have not back tested this completely. This is recently developed Indicator.

Skrip open-source

Sejalan dengan semangat TradingView, penulis skrip ini telah mempublikasikannya secara open-source, sehingga para trader dapat memahami dan memverifikasinya. Salut untuk sang penulis! Anda dapat menggunakannya secara gratis, tetapi penggunaan kembali kode ini dalam publikasi diatur oleh Tata Tertib. Anda dapat memfavoritkannya untuk dapat menggunakannya didalam sebuah chart.

Inggin menggunakan skrip ini pada chart?
//Short Term Top and Bottom Candle Identifier
//Code by UCSgears

study("UCS_Top & Bottom Candle", shorttitle = "UCS_T&B", overlay=false)

a = input(5, "Percent K Length")
b = input(3, "Percent D Length")

// Range Calculation
ll = lowest (low, a)
hh = highest (high, a)
diff = hh - ll
rdiff = close - (hh+ll)/2

// Nested Moving Average for smoother curves
avgrel = ema(ema(rdiff,b),b)
avgdiff = ema(ema(diff,b),b)

// Momentum
mom = ((close - close[b])/close[b])*1000

// SMI calculations
SMI = avgdiff != 0 ? (avgrel/(avgdiff/2)*100) : 0
SMIsignal = ema(SMI,b)

plot(mom, title = "Momentum", style = columns, color = yellow)
plot(SMI, title = "Stochastic Momentum Index")
plot(SMIsignal, color= red, title = "SMI Signal Line")

H1 = hline(40, color = red, title = "Over Bought")
H2 = hline(-40, color = green, title = "Over Sold")
H0 = hline(0, color = blue, title = "Zero Line")
fill(H0,H2, color = green, title = "Oversold")
fill(H0,H1, color = red, title = "Overbought")

// Strategy Signals 
// Buy Setup
long = SMI < -35  and mom > 0 and mom[1] < 0 ? lime : na

// Short Setup
short = SMI > 35  and mom < 0 and mom[1] > 0 ? red : na


good early signals.
+14 Jawab
@jackvmk, how to get this
@jackvmk, wat th name of ths indicator
+2 Jawab
Hello, I would like to try all of these indicators (of ucsgears) in my Multicharts...I see that the code must be changed to make it work in MC! how should I do? There are somewhere in the precise codes to be copied and compiled? (sorry my english) thanks
+8 Jawab
Cool! Any idea on how it performs on currencies and within the day trading - shorter than daily term trades?
+3 Jawab
ucsgears A-shot
May be you can back test on currency pair and post suggestions to improve. Play around with the settings, So far, I have only tested it briefly on stocks, with the same settings, haven't found any other better settings yet.
+2 Jawab
A-shot ucsgears
Ok, ill see if i can use it
ucsgears A-shot
Mathematically it should work. We are trying to pick the turning point in Swings, by looking for raw indicator and smooth version of the same. SMI vs ROC combination is one. Fast and Full Stochastic is another one, Smooth CCI vs Raw CCI will potentially be another one. They all measure the same (ignore the scales, ie., They Swing around Zero or the Median Line).
+2 Jawab
how can i add the arrows like you are showing in your charts?
+2 Jawab
Hey do you still use this Indicator or got a better one? Is there a best time frame to use or canare all same accurate, and is there any other toool that could help?
+2 Jawab
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