ClassicScott

+ Accumulation/Distribution

This is an updated version (with lots of extras added) of the Accumulation/Distribution indicator coded by @Cl8DH.
You can read about what he says about his indicator, and how to use it, here:

So, from that, what have I done?

I added a moving average (of which there are many types to choose from) so that you can use this as a "two lines cross" indicator, as well as a "mid-line cross" indicator.

I added Bollinger Bands (primarily for when "range" is turned off, but if you want to use the Bands with it in fixed range mode too, that's fine. You do you.).

I added candle coloring for both ways of using this indicator:
In rangebound mode there is overbought and oversold coloring, as well as bullish (ADP above the MA and median) and bearish (ADP below the MA and median), and neutral (ADP is above the MA but below the median, or below the MA and above the median). With range turned off there is no overbought or oversold of course. Above the MA and median is bullish , below both is bearish , and neutral covers that grey area where it's neither one nor the other.

The indicator itself is also colored in the same way the candles are. The MA and BBands are biased colored as well (green/red).

Alerts for pretty much every condition imaginable.

Please note in the image above the indicator is pretty gaudy. I don't use it like that, and you can turn a lot of that stuff off (lines, shading, etc.). That is just the default settings.

Like I said, I think Bollinger Bands make most sense if you have it set to range off, but they could be useful either way. Depends on you, the trader.

The candle color is 100% based on the moving average, so if you are using the BBands, set your MA to the default 20 SMA because that's what BBands use for the basis. If you just turn off the MA, whatever it is set to the indicator will still see that and use it (unless you turn off candle colors) to color the candles.


Above is the same image, but just with range turned off, and the Bollinger Bands turned off.

That's all. Hope you like this! It's becoming a favorite of mine, and a lot of what I've implemented here will be added to my previously released indicators, as well as any new ones.
Catatan Pelepasan: added a second moving average like my +BB and +Detrended Price Oscillator indicators
added Jurik Phase input
Catatan Pelepasan: added a second plot and inputs for it. Idea being similar to moving average crosses and such. I was thinking about this last night: how to filter out false signals, or maybe just make it a little bit easier to detect signals in momentum change. At first I thought just adding moving averages to these indicators might help, and it does, but recently I had a thought that all these indicators we use are just averages of a particular mathematical equation. We could set the lookback/length on all these things to 1, right? But that's incredibly noisy. Better to just use pa if that's the case. So we set these indicators to different values, like 14 or 20, or 50 or whatever, in the same way that moving averages on a chart are used: to clean up the signal to noise. So, instead of just having one plot on the indicator, why not have two of them of varying lengths instead of taking a moving average of what is already a moving average essentially? This would be like running two different MAs on top of price. So, yeah, I've just added a second optional plot to this. Giving it a quick eye check, it looks promising. Haven't traded with it. Just added it this morning.

Tried to figure out some ways to cleanup the inputs side of the indicator, but what I've looked at (inline functions and groups) is beyond my expertise, so it'll have to wait. Screenshot for eyeball test below. Enjoy!

Catatan Pelepasan: added shape plots for moving average cross
added ALMA in moving averages
removed band fill
Catatan Pelepasan: Updated inputs tab so it's more organized
Added background stripes where the primary and secondary ADPs cross
Added second Bollinger Band in order to create a soft band. This eliminates the need to use the background fill if the user doesn't like the indicator being compressed by the Bollinger Band plots. Color fills can extend outside of frame, whereas plots can not. This is turned on by default, and the plots are turned off. Background fill is always on, as there is no way to turn it off by default. Strange, that.
Lastly, got rid of the "basis" code for the Bollinger Bands. Now, whichever moving average is your primary moving average the bands will be drawn via those data points.
Catatan Pelepasan: some very important updates here!

This is mainly as a result of a question I received from a user about the use of the secondary DPO in my + DPO indicator (check it out, btw, it's a highly underrated oscillator, imo). And, while understanding the use myself, I realized that my implementation of DPO+DPO crosses was WRONG for the intended use of the second DPO. This realization has carried over into this script, and my implementation of indications around how the second ADP should be used in conjunction with the first, and with all other parts of the indicator. If you want to read why I changed what I did I would suggest checking the update on my +DPO indicator because I don't feel like typing it out again; the reasoning is the same.

With the change in how I've approached the momentum issue between the two different ADP's and the median, I've removed the background stripes from the ADP+ADP cross (they were not very useful) and added background stripes for ADP median crosses as this is a MUCH more useful feature.

I also got rid of the Bollinger Bands fill as my implementation of dual bands with a fill between them does a much neater job of what filling from the bottom to the top plot did.

That's all! Thanks! And happy trading!
Catatan Pelepasan: just fixed a thing with the TEMA on secondary moving average
increased default length of secondary ADP to 55 from 34 as I think it's a better period for longer periods momentum bias
Catatan Pelepasan: improved MA color some
Skrip sumber terbuka

Dalam semangat TradingView yang sebenar, penulis skrip ini telah menerbitkannya dengan menggunakan sumber terbuka supaya pedagang-pedagang dapat memahami dan mengesahkannya. Sorakan kepada penulis! Anda dapat menggunakannya secara percuma tetapi penggunaan semula kod ini dalam penerbitan adalah dikawalselia oleh Peraturan Rumah. Anda boleh menyukai skrip ini untuk menggunakannya pada carta.

Ingin menggunakan skrip ini pada carta?

Komen

Hi, really great trend indicator. How do I turn off the original candles? I can make them disappear but then the overlay dissapears as well. I want it to look like your chart. Thanks a lot
+4 Balas
ClassicScott CryptoNoviceInvestor
@CryptoNoviceInvestor, Sorry to take so long for a reply. What overlay are you talking about? And what do you mean turn off the original candles? You want the candle color from the indicator, or you just want the standard red and green, down and up candles? I added a check box in inputs for turning candle coloring on and off so you don't have to manually unclick them all in the style setting.
Balas
Hey Scott, you did a really great job man! Thank you
Balas
ClassicScott michisuperfreak
@michisuperfreak, thanks loads! Really hope this thing works out for you! Let me know if you find any particular settings you like and how you're using it. I'm curious about user feedback.
Balas
michisuperfreak ClassicScott
@ClassicScott, Hey, will do! Testing it right now, will need 1-2 weeks though :-)
Balas