This indicator plots a TTM Squeeze momentum oscillator in a separate pane. It compares a Bollinger Band offset to a Keltner Channel offset and marks the zero line white when the difference is non-negative and black when the bands are inside the channel. A line
Indicator · Pine Script v4 · Own pane
VIX Fix: Double Pleasure
The VIX Fix Double Pleasure indicator calculates standard synthetic Williams VIX Fix to spot market bottoms and combines it with a reversed VIX Fix calculation to detect market tops.
GitHub stars4on the repository
Pine versionv4older, still runs
Lines of code65
Settings7inputs
LicenceMIT
Last update4 years ago29 Jun 2022
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
65 lines of Pine Script v4 from vix-fix-double-pleasure.pine, published under MIT. Keep the author's credit and licence lines when you reuse it.
//@version=4
//
// VIX Fix Double Pleasure by @samgozman (https://github.com/samgozman)
//
// How to use this script: https://github.com/samgozman/vix-fix-double-pleasure
//
// ++++++++++ Warning: The script is provided for educational purposes only. ++++++++++ //
study(title="VIX Fix: Double Pleasure + ADX filter", shorttitle="VIX Fix: Double Pleasure", overlay=false)
// ++++++++++ INPUTS ++++++++++ //
VIXFix_length = input(22, title="VIX Fix Length")
VIXFix_back = input(22, title="The number of periods among which to look for lows and highs")
plotMarks = input(title="Plot high/low marks", type=input.bool, defval=true)
useFilter = input(false, title="Use ADX filter?", group="Filter signals by ADX")
adxMinVal = input(20, title="🛠 Do not show signals if ADX is below", group="Filter signals by ADX", minval=0, maxval=100)
adxlen = input(14, title="ADX Smoothing (optional)", group="Filter signals by ADX")
dilen = input(14, title="DI Length (optional)", group="Filter signals by ADX")
// ++++++++++ LOGIC ++++++++++ //
// Vix current
VIXFix_classic = (highest(close, VIXFix_length) - low) / highest(close, VIXFix_length) * -100
VIXFix_reverse = (lowest(close, VIXFix_length) - high) / lowest(close, VIXFix_length) * -100
// ADX Filter
dirmov(len) =>
up = change(high)
down = -change(low)
plusDM = na(up) ? na : (up > down and up > 0 ? up : 0)
minusDM = na(down) ? na : (down > up and down > 0 ? down : 0)
truerange = rma(tr, len)
plus = fixnan(100 * rma(plusDM, len) / truerange)
minus = fixnan(100 * rma(minusDM, len) / truerange)
[plus, minus]
adx(dilen, adxlen) =>
[plus, minus] = dirmov(dilen)
sum = plus + minus
adx = 100 * rma(abs(plus - minus) / (sum == 0 ? 1 : sum), adxlen)
sig = adx(dilen, adxlen)
// Minimaxis
isMaxUp = highest(VIXFix_reverse, VIXFix_back) == VIXFix_reverse // Top peaks
isMaxDown = lowest(VIXFix_classic, VIXFix_back) == VIXFix_classic // Top bottoms
isMinUp = lowest(VIXFix_reverse, VIXFix_back) == VIXFix_reverse // Min peaks
isMinDown = highest(VIXFix_classic, VIXFix_back) == VIXFix_classic // Min bottoms
// Signals
buySignal = isMaxDown or isMinUp
sellSignal = isMinDown or isMaxUp
// Filtred signals
buySignalFiltred = buySignal and sig > adxMinVal
sellSignalFiltred = sellSignal and sig > adxMinVal
// ++++++++++ PLOT ++++++++++ //
plot(series=VIXFix_reverse, style=plot.style_histogram, linewidth=4, color=color.new(color.teal, 20))
plot(series=VIXFix_reverse, style=plot.style_line, linewidth=4, color=color.new(color.teal, 20), title="VIX fix reversed")
plot(series=VIXFix_classic, style=plot.style_histogram, linewidth=4, color=color.new(color.red, 20))
plot(series=VIXFix_classic, style=plot.style_line, linewidth=4, color=color.new(color.red, 20), title="VIX fix classic")
// ++++++++++ PLOT - Marks ++++++++++ //
plotshape((useFilter ? sellSignalFiltred : sellSignal) and plotMarks, title="Sell", color = color.red, style=shape.circle, location=location.top, size=size.tiny)
plotshape((useFilter ? buySignalFiltred : buySignal) and plotMarks, title="Buy", color = color.green, style=shape.circle, location=location.bottom, size=size.tiny)
Overview
VIX Fix: Double Pleasure renders both metrics as histograms and lines in a separate pane. By evaluating period highs and lows over a lookback window, the indicator generates buy and sell dots at extreme readings. Traders can enable an optional ADX filter to eliminate signals during low-volatility or weak-trend market conditions. User inputs allow customisation of lookback lengths, ADX thresholds, and mark visibility.
- Standard and reversed VIX Fix calculations
- Buy and sell signal dots at extreme readings
- Optional ADX trend strength filter
- Separate pane histogram and line visuals
Details
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| VIX Fix Length | int | 22 | VIXFix_length |
| The number of periods among which to look for lows and highs | int | 22 | VIXFix_back |
| Plot high/low marks | bool | true | plotMarks |
| Use ADX filter? | bool | false | useFilter |
| 🛠 Do not show signals if ADX is below | int | 20 | adxMinVal |
| ADX Smoothing (optional) | int | 14 | adxlen |
| DI Length (optional) | int | 14 | dilen |
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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