OPEN-SOURCE SCRIPT
Custom EMA + FIBO
Atualizado
This script combines 6 EMAs with 3 Donchian Channel 78.6% and 21.4% intermediary level lines to perform trade analysis. The 6 EMAs (I, II, III , IV, V and VI ) default lengthes come from one of the Fibonacci Phi^3 and Phi^3/2 sub series (17, 34, 72, 144, 305 and 610), but can be changed to any values, particularly to the traditionally used 20, 40, 50, 100, 200 and 300. Up to my knowledge, Fibonacci Phi^3 and Phi^3/2 sub series lengthes were first proposed by Bo Williams.
The 3 Donchian Channels used have default lengthes 72, 305 and 1292, calculated after the first length default value of 72. For each of the 3 Donchian Channels only an upper line, set by default at 78.6%, is plotted in green and its complement, set to 21.4%, is plotted in red. When the closing price is above 3 green lines, we say it is Forbidden to Sell ( PV ), and when the closing price is below 3 red lines, we say it is Forbidden to Buy ( PC ). Those conditions are flagged on the chart. These PV-PC conditions were, up to my knowledge, first proposed by Bo Williams.
The 3 Donchian Channels used have default lengthes 72, 305 and 1292, calculated after the first length default value of 72. For each of the 3 Donchian Channels only an upper line, set by default at 78.6%, is plotted in green and its complement, set to 21.4%, is plotted in red. When the closing price is above 3 green lines, we say it is Forbidden to Sell ( PV ), and when the closing price is below 3 red lines, we say it is Forbidden to Buy ( PC ). Those conditions are flagged on the chart. These PV-PC conditions were, up to my knowledge, first proposed by Bo Williams.
Notas de Lançamento
This update includes optional plot of the Giant EMAs to help detecting old Resistance and Support lines when the price seems to be doing new historical highs and lows, respectively. These Giant lines have length greater than 1000. This update also include the indication of upward the EMA Fans formation. Those fans are formed when 6 Phi^3/2 distant EMAs are ordered, for instance, we say there is EMA Fan 610 if close > EMA 17 > EMA 34 > EMA 72 > EMA 144 > EMA 305 > EMA 610. As far as I know, this concept of EMA Fan was first proposed by Bo Williams.
Notas de Lançamento
This update just replaces the references to the close price by the chosen data source set to src.Notas de Lançamento
This update just uses a better chart to illustrate the indicator.Notas de Lançamento
This update is just to allow regular length Fan to be show despite of the presence of a Giant Fan. This change is due to the fact that Giant Fans usually are very far from usual lengths and should not prevent a relevant local condition to be noticed.Notas de Lançamento
This update adds dashed plotting option support to Fibo indicator. Dashed plotting is convenient to prevent visual conflict with Giant EMA colors.Notas de Lançamento
This update adds the Dark Theme option to allow dashed Fibo to be plotted as expected on Dark Theme charts.Notas de Lançamento
This update is just to fix the EMA calculation in the absence of enough candles. Instead of using TV standard zero price, I use the source (close) price.Notas de Lançamento
This updates detects the conditions know as "double support" and "double resistance" and plot the thicker MA lines when these conditions hold. A double support condittion happens when the 3 MAs immediately smaller than the corresponding support line are aligned above it. The double resistance condition happens when the 3 immediately smaller MAs are aligned below the resistance line. For instance, we say we have a double support 72 if MA 72 is below the price and MA 8 > MA 17 > MA 34 > MA 72.Notas de Lançamento
This update is to fix the PV and PC conditions to require their respective 3 lines to be aligned. Therefore, PV condition now requires price > green line 72 > green line 305 > green line 1292. PC condition now requires price < red line 72 < red line 305 < red line 1292.Notas de Lançamento
This update adds Phi^3 and Phi^3/2 series optional filter selection to MAs and PV/PC enabling/disabling toggle.Notas de Lançamento
This update adds optional exhibition of dwarf (8 and 4) EMAs.Notas de Lançamento
This update just optimizes some functions to use binary search and decrease average execution time from n/2 to log2(n).Script de código aberto
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