I have merged in @TheMighyChicken's code (Thanks!) and added some more options. Updated source here - pastebin.com/fVx5Bugi
Changes: -------------- - Switch between plain candles and colored oscillator candles. - Switch between candles and plain oscillator view.
--- Original Description ---
Belkhayate Timing, by Mostafa Belkhayate, is very famous in the Forex groups. This is a port from one of the MT4 versions available. If you have used this in other platforms, do let me know if this looks compared to those.
The usage is similar to that of ValueChart (tradingview.com/v/vqWXNNq2/). The middle area is the centroid or neutral area, the shaded regions (red/green) are extreme and beyond those are AlertZones. This seems to be used in conjunction with his other indicators, but, in my limited testing, I have seen this give a lot of good signals, especially on divergences.
Indicator allows coloring bars based on the oscillator position or show oscillator histogram (Check the options page).
Histogram=ON:
No Oscillator Smoothing:
@TheMightyChicken Can you do your candle magic on this oscillator too, just like you did for ValueChart? :)
// Body
bHigh = o > c ? o : c
bLow = o < c ? o : c
b0 = (o > 0 and c > 0) or (o > 0 and c < 0) ? bHigh : (o < 0 and c < 0) or (o < 0 and c > 0) ? bLow : 0
b1 = o < 0 and c > 0 ? bHigh : o > 0 and c < 0 ? bLow : 0
bCover = o > 0 and c > 0 ? bLow : o < 0 and c < 0 ? bHigh : 0
plot(b0, linewidth=3, color=silver, style=histogram)
plot(b1, linewidth=3, color=silver, style=histogram)
plot(bCover, linewidth=3, color=white, style=histogram)
// Wick
w0 = h > 0 ? h : l
w1 = h > 0 and l < 0 ? l : h
wCover = h > 0 and l > 0 ? l : h < 0 and l < 0 ? h : 0
plot(w0, linewidth=1, color=silver, style=histogram)
plot(w1, linewidth=1, color=silver, style=histogram)
plot(wCover, linewidth=1, color=white, style=histogram)
PoshTrader
⋅
For some reason I can't write entire script here. I sent you pm.