WillySIG
Based on "Willy" Indicator.
Red = overbought, Green = oversold, White = Crossover
Added MACD for visualisation of crossovers. May also be usefull for spotting divergences.
Happy about any feedback = ]
Red = overbought, Green = oversold, White = Crossover
Added MACD for visualisation of crossovers. May also be usefull for spotting divergences.
Happy about any feedback = ]
study(title="Willy Signals", shorttitle="WillySIG_[MTG]") length = input(21, minval=1) upper = highest(length) lower = lowest(length) out = (close - lower) / (upper - lower) src = out, len = input(13, minval=1, title="Length") out2 = ema(out,1) out3 = ema(out,12) macd = ema(out2-out3,1) crs = cross(out2,out3) and ((out3 >= 0.75) or (out3 <= 0.25))?((out3 <= 0.25)?lowest(macd,100):highest(macd,100)):na sig1 = (out3 <= 0.25)?lowest(macd,100):na sig2 = (out3 >= 0.75)?highest(macd,100):na plot(sig1, color=lime, style = area,transp=50) plot(sig2, color=red, style = area, transp=50) plot(crs, color=white, style = area, transp=64, linewidth=1) plot(wma(macd,3), title="EMA", color=aqua, transp=72, style = area, linewidth=2) hline(0,color=teal)