UCS_Momentum Oscillator - Version 2
This is Version - 2 of the Momentum Oscillator, Like i said on the prior version, This version has an Indicator for Trends.
Marks only Overbought and Oversold Based on the TREND.
The Trend dots are calculated exactly like the Slingshot system trend.
Marks only Overbought and Oversold Based on the TREND.
The Trend dots are calculated exactly like the Slingshot system trend.
Uday C Santhakumar
// Created by UCSgears // Version 2 study(title="UCS_Momentum Oscillator", shorttitle="UCS_Osc") // Stochastic Based Relative Oversold and Overbought //Input // Short Stochastic Input length1 = input(8, minval=1, title = "Short %K") sma1 = input(3, minval=1, title="Smooth %K1") // Base Stochastic Input length3 = input(100, minval=1, title = "Base %K") sma3 = input(10, minval=1, title="Smooth %K3") // Stochastic Code k1 = (sma(stoch(close, high, low, length1), sma1)-50) k3 = (sma(stoch(close, high, low, length3), sma3)-50) //Histogram 1 Calc and Plot hist1 = (k1-k3) plot_color1 = hist1 > hist1[1] and hist1 > 0 ? green : hist1 < hist1[1] and hist1 > 0 ? blue : hist1 < hist1[1] and hist1 <= 0 ? red : hist1 > hist1[1] and hist1 <= 0 ? orange : white plot(hist1, color=plot_color1, style=histogram, linewidth=4, title="Diff") //Horizontal Lines h1=hline(80, "Extreme Up", red, solid, 3) h2=hline(-80, "Extreme Down", green, solid, 3) h3=hline(55, "OverBought", red, dashed, 1) h4=hline(-55, "OverSold", green, dashed, 1) fill(h2,h4, green, 80, "OverSold Zone") fill(h1,h3, red, 80, "OverBought Zone") //Code for Trend Based Zero Line ma1 = ema(close, 13) ma2 = ema(close, 21) ma3 = ema(close, 34) ma = ema(close, 89) range = tr rangema = ema(range, 89) upper = ma + rangema * 0.5 lower = ma - rangema * 0.5 tr_up = ma1 > upper and ma2 > upper and ma3 > upper tr_down = ma1 < lower and ma2 < lower and ma3 < lower scolor = tr_up ? green : tr_down ? red : blue plot(0, color=scolor, style=circles, linewidth=3)
