EXPERIMENTAL:
Bull and Bear power based on linear regression (this is a non lagging oscillator, the parameter are for the lookup window for the donchian extremes)
this indicator can also be used for convergence/divergence.
(accidentjev2) added multi timeframe support (indicator may repaint values)
Bull and Bear power based on linear regression (this is a non lagging oscillator, the parameter are for the lookup window for the donchian extremes)
this indicator can also be used for convergence/divergence.
(accidentjev2) added multi timeframe support (indicator may repaint values)
//@version=2 study(title='[RS]Linear Regression Bull and Bear Power Accumulation V1', shorttitle='BBPa', overlay=false) SHOW_REM = input(title='Show as (bull-bear)?', type=bool, defval=false) SHOW_ACC = input(title='Show as accumulation?', type=bool, defval=true) window = input(title='Lookback Window:', type=integer, defval=10) smoothing = input(title='Smoothing Length:', type=integer, defval=4) acc_length = input(title='Accumulation Length:', type=integer, defval=100) USE_ALT_TF = input(title='Use alternative timeframe?', type=bool, defval=false) alt_tf = input(title='Alternative timeframe:', type=string, defval='D', confirm=false) f_exp_lr(_height, _length)=> _ret = _height + (_height/_length) h_value = highest(close, window) l_value = lowest(close, window) h_bar = n-highestbars(close, window) l_bar = n-lowestbars(close, window) bear = 0-f_exp_lr(h_value-close, n-h_bar) bull = 0+f_exp_lr(close-l_value, n-l_bar) bear_acc = sum(nz(bear, 0), acc_length) bull_acc = sum(nz(bull, 0), acc_length) rem = SHOW_ACC ? bull_acc-abs(bear_acc) : bull - abs(bear) rem_bull = rem > 0 ? rem : 0 rem_bear = rem < 0 ? rem : 0 bear_output = USE_ALT_TF ? security(tickerid, alt_tf, SHOW_REM?rem_bear:SHOW_ACC?bear_acc:bear) : SHOW_REM?rem_bear:SHOW_ACC?bear_acc:bear bull_output = USE_ALT_TF ? security(tickerid, alt_tf, SHOW_REM?rem_bull:SHOW_ACC?bull_acc:bull) : SHOW_REM?rem_bull:SHOW_ACC?bull_acc:bull plot(title='Bear', series=bear_output, style=columns, color=maroon) plot(title='Bull', series=bull_output, style=columns, color=green)