MACD-V is a volatility-normalized momentum indicator based on research by Alex Spiroglou. It calculates the standard MACD histogram and normalizes it by dividing by the Average True Range (ATR). Plotted in a separate pane as a colored histogram, it includes us
Indicator · Pine Script v4 · Own pane
Bayesian BBSMA Oscillator
This indicator calculates directional probabilities based on price position relative to Bollinger Bands and a simple moving average over a rolling lookback window.
GitHub stars25on the repository
Pine versionv4older, still runs
Lines of code87
Settings8inputs
LicenceNone statedfile: MPL-2.0
Last update6 years ago29 Jun 2020
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
87 lines of Pine Script v4 from bayesian/indicators/bbsma.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © tista
//@version=4
study("Bayesian BBSMA Oscillator", shorttitle="BayesBbSmaOsc")
bbSmaPeriod = input(20, title="BB SMA Period")
bbStdDevMult = input(2.5, title="BB Standard Deviation", maxval=50.0)
bbBasis = sma(close, bbSmaPeriod)
bbStdDev = bbStdDevMult * stdev(close, bbSmaPeriod)
bbUpper = bbBasis + bbStdDev
bbLower = bbBasis - bbStdDev
// SMA
smaPeriod = input(20, title="SMA Period")
smaValues = sma(close, smaPeriod)
// Bayesian Theorem Starts
bayesPeriod = input(20, title="Bayesian Lookback Period")
// Next candles are breaking Down
probBbUpperUpSeq = close > bbUpper ? 1 : 0
probBbUpperUp = sum(probBbUpperUpSeq, bayesPeriod) / bayesPeriod
probBbUpperDownSeq = close < bbUpper ? 1 : 0
probBbUpperDown = sum(probBbUpperDownSeq, bayesPeriod) / bayesPeriod
probUpBbUpper = probBbUpperUp / (probBbUpperUp + probBbUpperDown)
probBbBasisUpSeq = close > bbBasis ? 1 : 0
probBbBasisUp = sum(probBbBasisUpSeq, bayesPeriod) / bayesPeriod
probBbBasisDownSeq = close < bbBasis ? 1 : 0
probBbBasisDown = sum(probBbBasisDownSeq, bayesPeriod) / bayesPeriod
probUpBbBasis = probBbBasisUp / (probBbBasisUp + probBbBasisDown)
probSmaUpSeq = close > smaValues ? 1 : 0
probSmaUp = sum(probSmaUpSeq, bayesPeriod) / bayesPeriod
probSmaDownSeq = close < smaValues ? 1 : 0
probSmaDown = sum(probSmaDownSeq, bayesPeriod) / bayesPeriod
probUpSma = probSmaUp / (probSmaUp + probSmaDown)
sigmaProbsDown = nz(probUpBbUpper * probUpBbBasis * probUpSma / probUpBbUpper * probUpBbBasis * probUpSma + ((1 - probUpBbUpper) * (1 - probUpBbBasis) * (1 - probUpSma)))
// Next candles are breaking Up
probDownBbUpper = probBbUpperDown / (probBbUpperDown + probBbUpperUp)
probDownBbBasis = probBbBasisDown / (probBbBasisDown + probBbBasisUp)
probDownSma = probSmaDown / (probSmaDown + probSmaUp)
sigmaProbsUp = nz(probDownBbUpper * probDownBbBasis * probDownSma / probDownBbUpper * probDownBbBasis * probDownSma + ( (1 - probDownBbUpper) * (1 - probDownBbBasis) * (1 - probDownSma) ))
showNextCandleDown = input(true, title="Plot Next Candles Breaking Down?")
plot(showNextCandleDown ? sigmaProbsDown * 100 : na, title="Next Candle Breaking Down Probs", transp=0, color=color.red, linewidth=2)
showNextCandleUp = input(true, title="Plot Next Candles Breaking Up?")
plot(showNextCandleUp ? sigmaProbsUp * 100 : na, title="Next Candle Breaking Up Probs", transp=0, color=color.green, linewidth=2)
probPrime = nz(sigmaProbsDown * sigmaProbsUp / sigmaProbsDown * sigmaProbsUp + ( (1 - sigmaProbsDown) * (1 - sigmaProbsUp) ))
showPrime = input(true, title="Plot Prime Probability?")
plot(showPrime ? probPrime * 100 : na, title="Prime Probability", transp=0, color=color.blue, linewidth=2)
lowerThreshold = input(15.0, title="Lower Threshold")
sideways = probPrime < lowerThreshold / 100 and sigmaProbsUp < lowerThreshold / 100 and sigmaProbsDown < lowerThreshold / 100
longUsingProbPrime = probPrime > lowerThreshold / 100 and probPrime[1] == 0
longUsingSigmaProbsUp = sigmaProbsUp < 1 and sigmaProbsUp[1] == 1
shortUsingProbPrime = probPrime == 0 and probPrime[1] > lowerThreshold / 100
shortUsingSigmaProbsDown = sigmaProbsDown < 1 and sigmaProbsDown[1] == 1
longSignal = longUsingProbPrime or longUsingSigmaProbsUp
shortSignal = shortUsingProbPrime or shortUsingSigmaProbsDown
barcolor(longSignal ? color.lime : na, title="Long Bars")
barcolor(shortSignal ? color.maroon : na, title="Short Bars")
hzl3 = hline(lowerThreshold, color=#333333, linestyle=hline.style_solid)
hzl4 = hline(0, color=#333333, linestyle=hline.style_solid)
fill(hzl3, hzl4, title="Lower Threshold", color=sideways ? color.gray : color.maroon, transp=70)
alertcondition(longSignal, title="Long!", message="Bayesian BBSMA - LONG - {{exchange}}:{{ticker}} at {{close}}")
alertcondition(shortSignal, title="Short!", message="Bayesian BBSMA - SHORT - {{exchange}}:{{ticker}} at {{close}}")
Overview
Bayesian BBSMA Oscillator computes breakup, breakdown, and combined prime probability percentages, plotting up to three separate probability curves in an oscillator pane. Crossing events and threshold conditions trigger long and short signals that highlight price chart bars in green or maroon. Users can configure Bollinger Band settings, SMA periods, Bayesian sample lengths, and threshold values.
- Bayesian probability modeling with Bollinger Bands
- Separate breakout, breakdown, and prime probability curves
- Configurable moving average and standard deviation inputs
- Chart bar coloring on probability trigger signals
- Adjustable lower threshold filter
Details
Published by
tistaharahap on GitHub
Code credit
tista, as written in the script's header
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
Oscillators & momentum, Moving averages, Volatility & bands
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| BB SMA Period | int | 20 | bbSmaPeriod |
| BB Standard Deviation | float | 2.5 | bbStdDevMult |
| SMA Period | int | 20 | smaPeriod |
| Bayesian Lookback Period | int | 20 | bayesPeriod |
| Plot Next Candles Breaking Down? | bool | true | showNextCandleDown |
| Plot Next Candles Breaking Up? | bool | true | showNextCandleUp |
| Plot Prime Probability? | bool | true | showPrime |
| Lower Threshold | float | 15.0 | lowerThreshold |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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