schaballa
5 posts
msg #161509
- Ignore schaballa |
12/22/2024 5:36:39 PM
I have had good entry success with call options using this Leading Indicator on Tradingview. Wondering if anyone can possibly code this indicator.
/@version=5
indicator("Leading Indicator Example", overlay=false)
// Input parameters for indicator sensitivity
length = input(14, title="Regression Period Length")
rocLength = input(9, title="ROC Period Length")
rocThreshold = input(5, title="ROC Threshold")
// Linear Regression for Trend Prediction
lrc = ta.linreg(close, length, 0)
// Rate of Change (ROC) for momentum prediction
roc = ta.roc(close, rocLength)
// Leading Indicator Logic
leadingIndicator = (close - lrc) / ta.stdev(close, length) // Standardized difference from regression line
// Define possible buy and sell signals based on ROC and Leading Indicator
buySignal = roc > rocThreshold and leadingIndicator > 0 // Predicting upward momentum
sellSignal = roc < -rocThreshold and leadingIndicator < 0 // Predicting downward momentum
// Plot the leading indicator as an oscillator
plot(leadingIndicator, color=color.blue, title="Leading Indicator", linewidth=2)
// Highlight buy and sell signals on the chart
bgcolor(buySignal ? color.new(color.green, 90) : na)
bgcolor(sellSignal ? color.new(color.red, 90) : na)
// Plotting ROC to visualize momentum as well
hline(rocThreshold, "ROC Threshold", color=color.gray)
plot(roc, color=color.purple, title="ROC Momentum", linewidth=2)
Thanks in Advance
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