The Adaptive RSI Moving Average (ARSIMA) is an overlay indicator that dynamically adjusts its smoothing factor based on the Relative Strength Index (RSI). When the RSI moves toward extreme overbought or oversold conditions, the smoothing factor increases to ma
Indicator · Pine Script v4 · On the chart
MC Study - Aggressive
This indicator builds a WaveTrend-style oscillator from typical price, using an exponential moving average channel and a smoothed channel index.
GitHub stars2on the repository
Pine versionv4older, still runs
Lines of code50
Settings2inputs
LicenceNone statedfile: MPL-2.0
Last update5 years ago8 Apr 2021
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
50 lines of Pine Script v4 from studies/mc_study_aggressive.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/
// © Metzenas
//@version=4
study("MC Study - Aggressive", overlay=true)
n1 = input(10, "Channel Length")
n2 = input(21, "Average Length")
// ema21 = input(21, "EMA 21")
ap = hlc3
esa = ema(ap, n1)
d = ema(abs(ap - esa), n1)
ci = (ap - esa) / (0.015 * d)
tci = ema(ci, n2)
// ema21_ = ema(hlc3, ema21)
wt1 = tci
wt2 = sma(wt1,3)
crossCondition = cross(wt1, wt2)
long_condition = (wt2 - wt1 <= 0)
short_condition = (wt2 - wt1 > 0)
// Money Flow
// length = input(title="Length", type=input.integer, defval=60, minval=1, maxval=2000)
// src = hlc3
// upper = sum(volume * (change(src) <= 0 ? 0 : src), length)
// lower = sum(volume * (change(src) >= 0 ? 0 : src), length)
// _rsi(upper, lower) =>
// if lower == 0
// 100
// if upper == 0
// 0
// 100.0 - (100.0 / (1.0 + upper / lower))
// mf = _rsi(upper, lower)
// Filters
body_size = abs(close - open) / (high - low)
// Base
long_signal_base = crossCondition and long_condition
alertcondition(long_signal_base, "MC Aggr buy", "MC - Buy")
if (long_signal_base)
l = label.new(bar_index, high)
label.set_text(l, "buy_base@\n"+tostring(close))
label.set_color(l, color.green)
label.set_yloc(l, yloc.belowbar)
label.set_style(l, label.style_label_up)
Overview
MC Study - Aggressive flags a base buy when the fast line crosses its three-bar simple average while the fast line is at or above that average, then draws a green label under the bar showing the close and fires a buy alert. Channel length and average length change the smoothing. It draws on the price chart. A short condition and candle body size are calculated but unused, and there are no exit rules.
- WaveTrend-style channel oscillator
- Base buy cross labels
- Buy alert condition
- Channel and average length inputs
- Typical price source
Details
Published by
Metzenas on GitHub
Type
Indicator, Pine Script v4
Draws
On the price chart
Category
Oscillators & momentum
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 |
|---|---|---|---|
| Channel Length | int | 10 | n1 |
| Average Length | int | 21 | n2 |
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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