Fake Double Reserve

18 jam lalu

This Pine Script code implements the "Fake Double Reserve" indicator, combining several widely-used technical indicators to generate Buy and Sell signals. Here's a detailed breakdown:

Key Indicators Included
Relative Strength Index (RSI):

Used to measure the speed and change of price movements.
Overbought and oversold levels are set at 70 and 30, respectively.
MACD (Moving Average Convergence Divergence):

Compares short-term and long-term momentum with a signal line for trend confirmation.
Stochastic Oscillator:

Measures the relative position of the closing price within a recent high-low range.
Exponential Moving Averages (EMAs):

EMA 20: Short-term trend indicator.
EMA 50 & EMA 200: Medium and long-term trend indicators.
Bollinger Bands:

Shows volatility and potential reversal zones with upper, lower, and basis lines.

Signal Generation
Buy Condition:

RSI crosses above 30 (leaving oversold territory).
MACD Line crosses above the Signal Line.
Stochastic %K crosses above %D.
The closing price is above the EMA 50.
Sell Condition:

RSI crosses below 70 (leaving overbought territory).
MACD Line crosses below the Signal Line.
Stochastic %K crosses below %D.
The closing price is below the EMA 50.
Visualization
Signals:

Buy signals: Shown as green upward arrows below bars.
Sell signals: Shown as red downward arrows above bars.
Indicators on the Chart:

RSI Levels: Horizontal dotted lines at 70 (overbought) and 30 (oversold).
EMAs: EMA 20 (green), EMA 50 (blue), EMA 200 (orange).
Bollinger Bands: Upper (purple), Lower (purple), Basis (gray).
Labels:

Buy and Sell signals are also displayed as labels at relevant bars.

//version=5
indicator("Fake Double Reserve", overlay=true)

// Include key indicators
rsiLength = 14
rsi = ta.rsi(close, rsiLength)

macdFast = 12
macdSlow = 26
macdSignal = 9
[macdLine, signalLine, _] = ta.macd(close, macdFast, macdSlow, macdSignal)

stochK = ta.stoch(close, high, low, 14)
stochD = ta.sma(stochK, 3)

ema20 = ta.ema(close, 20)
ema50 = ta.ema(close, 50)
ema200 = ta.ema(close, 200)

bbBasis = ta.sma(close, 20)
bbUpper = bbBasis + 2 * ta.stdev(close, 20)
bbLower = bbBasis - 2 * ta.stdev(close, 20)

// Detect potential "Fake Double Reserve" patterns
longCondition = ta.crossover(rsi, 30) and ta.crossover(macdLine, signalLine) and ta.crossover(stochK, stochD) and close > ema50
shortCondition = ta.crossunder(rsi, 70) and ta.crossunder(macdLine, signalLine) and ta.crossunder(stochK, stochD) and close < ema50

// Plot signals
if (longCondition)
label.new(bar_index, high, "Buy", style=label.style_label_up, color=color.green, textcolor=color.white)
if (shortCondition)
label.new(bar_index, low, "Sell", style=label.style_label_down, color=color.red, textcolor=color.white)

// Plot buy and sell signals as shapes
plotshape(longCondition, style=shape.labelup, location=location.belowbar, color=color.green, size=size.small, title="Buy Signal")
plotshape(shortCondition, style=shape.labeldown, location=location.abovebar, color=color.red, size=size.small, title="Sell Signal")

// Plot indicators
plot(ema20, color=color.green, linewidth=1, title="EMA 20")
plot(ema50, color=color.blue, linewidth=1, title="EMA 50")
plot(ema200, color=color.orange, linewidth=1, title="EMA 200")

hline(70, "Overbought (RSI)", color=color.red, linestyle=hline.style_dotted)
hline(30, "Oversold (RSI)", color=color.green, linestyle=hline.style_dotted)

plot(bbUpper, color=color.purple, title="Bollinger Band Upper")
plot(bbLower, color=color.purple, title="Bollinger Band Lower")
plot(bbBasis, color=color.gray, title="Bollinger Band Basis")