It plots them like Heikin Ashi candles. In this way, we can eliminate some of the noise and uncertainty that is inherent to applying only one calculation period to the oscillators.
Applying Heikin Ashi to an oscillator might be advantageous compared to applying it directly to the chart, because you are not altering price readings. The obvious advantage is the clear visualization of the trend directions without noise.
The oscillators included are:
- ( )
- Inverse of (IFTRSI)
- ( )
- Index ( )
- Momentum (MOM)
- True Strength Index (TSI)
- Williams' Percent Range (WPR).
Apart from the choice of one of these indicators, only two more inputs are required:
- the main (median) period and
- the % of variability of this period.
The script calculates 4 evenly spaced periods from that data (period and variability), e.g. for a period of 50 and a variability of 30%, the script calculates oscillator values for 4 different periods evenly spaced around 50, (35, 45, 55, 65) and uses these 4 values to draw the Heikin Ashi candle.
The script also plots the usual upper/lower (overbought/oversold) values, as well as the central line.
The interesting concept of applying Heikin Ashi to an oscillator was recently introduced in Tradingview by @JayRogers . Many thanks for the idea.
For Heikin Ashi calculations, the useful script by @allanster was taken as a reference.
Any improvements, modifications or suggestions are welcome.
Với tinh thần của TradingView, tác giả đã xuất bản tập lệnh theo mã nguồn mở, vì thế trader có thể dễ dàng hiểu và tùy chỉnh được. Bạn có thể sử dụng miễn phí, hoặc tùy chỉnh lại mã đã được cấp phép bởi Quy tắc Chung. Bạn có thể sử dụng nó trên biểu đồ.
Regarding alerts, I don't use any, and have no experience in coding them, but I believe that including this lines at the end of my script could work:
alertchngcol = barColor == #ef5350 and barColor == #26a69a
alertcondition(alertchngcol, title='Alert on Green Bar', message='Green Bar!')
alert('Green Bar!', alert.freq_once_per_bar)
Very nice scripts. TQ
there is error compile script when i try to add the alert lines above?