// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © RedKTrader
//@version=5
indicator('[dev]RedK Momentum Bars', shorttitle='RedK MoBars v3.0', explicit_plot_zorder = true, timeframe='', timeframe_gaps=false)
// A trading system composed of 2 short Lazy Lines (preferably one open and one close - 2-3 bars apart) and a WMA long filter
// loosely inspired by Edler Impulse
// v2.0 cleaned up code and added MA options to be able to mix and match, and experiment with various setups
// default values (my personal preference) remain the same as in v1.0
// for example, some traders will consider "bear territory" only below SMA50, others will use EMA30 .. and so on.
// ---------------------------------------------------------------------------------------------------------------
// MoBars v3.0:
// updated defaults to match the most common 3x MA cross-over set-up of SMA (10, 20, 50)
// updated visuals to push the 0 line to the background of the plot (using the explcit_plot_zorder param)
// and added alerts for crossing up, down and swing around the 0 line (the Bullish/Bearish Filter MA)
//==============================================================================
f_LazyLine(_data, _length) =>
w1 = 0, w2 = 0, w3 = 0
L1 = 0.0, L2 = 0.0, L3 = 0.0
w = _length / 3
if _length > 2
w2 := math.round(w)
w1 := math.round((_length - w2) / 2)
w3 := int((_length - w2) / 2)
L1 := ta.wma(_data, w1)
L2 := ta.wma(L1, w2)
L3 := ta.wma(L2, w3)
else
L3 := _data
L3
//==============================================================================
// =============================================================================
f_getMA(source, length, type) =>
type == "SMA" ? ta.sma(source, length) :
type == "EMA" ? ta.ema(source, length) :
type == "WMA" ? ta.wma(source, length) :
type == "HMA" ? ta.hma(source, length) :
f_LazyLine(source, length)
// =============================================================================
// ------------------------------------------------------------------------------------------------
// Inputs
// Note, in v3.0, changed default lengths to 10, 20 and 50 -- and all MA types to SMA.
// ------------------------------------------------------------------------------------------------
Fast_Src = input.source(close, title='Fast MA Source', inline = 'Fast')
Fast_Length = input.int(10, title = 'Length', minval = 1, inline = 'Fast')
Fast_Type = input.string('SMA', title = 'Type', inline = 'Fast',
options = ['RSS_WMA', 'WMA', 'EMA', 'SMA', 'HMA'])
Slow_Src = input.source(close, title='Slow MA Source', inline = 'Slow')
Slow_Length = input.int(20, title='Length', minval = 1, inline = 'Slow')
Slow_Type = input.string('SMA', title = 'Type', inline = 'Slow',
options = ['RSS_WMA', 'WMA', 'EMA', 'SMA', 'HMA'])
Slow_Delay = input.int(3, title='Delay (1 = None)', minval = 1)
Fil_Length = input.int(50, title='Filter MA Length', minval = 1, inline = 'Filter')
Fil_Type = input.string('SMA', title = 'Type', inline = 'Filter',
options = ['RSS_WMA', 'WMA', 'EMA', 'SMA', 'HMA'])
// ------------------------------------------------------------------------------------------------
// Calculation
// ------------------------------------------------------------------------------------------------
Fast = f_getMA(Fast_Src, Fast_Length, Fast_Type)
Slow = f_getMA(Slow_Src, Slow_Length, Slow_Type)
Filter = f_getMA(close, Fil_Length, Fil_Type)
Fast_M = Fast - Filter
Slow_M = Slow - Filter
Rel_M = ta.wma(Slow_M, Slow_Delay)
// prep the Momentum bars
o = Rel_M
c = Fast_M
h = math.max(o, c)
l = math.min(o, c)
rising = ta.change(c) > 0
// ------------------------------------------------------------------------------------------------
// Colors & Plots
// ------------------------------------------------------------------------------------------------
hline(0, title = 'Zero Line', color = color.blue, linestyle = hline.style_solid)
c_barup = #11ff20ff
c_bardn = #ff1111ff
c_bardj = #ffffffff
c_barupb = #1b5e20ff
c_bardnb = #981919ff
c_bardjb = #9598a1ff
barcolor = c > o and rising ? c_barup : c < o and not rising ? c_bardn : c_bardj
borcolor = c > o and rising ? c_barupb : c < o and not rising ? c_bardnb : c_bardjb
plotcandle(o, h, l, c, 'MoBars', barcolor, barcolor, bordercolor = borcolor)
// ===========================================================================================================
// v3.0 adding alerts
// these alerts will trigger as soon as the Momentum Bar touches above the filter line
// this approach can lead to "false signals" but also has an advantage (of alerting to a possible mood/mode change)
// another option - maybe in an updated version - could be to trigger alerts *only* when the full Momentum Bar completely clears the filter line (above or below)
// and it's easy to make that a user choice in the study inputs
// ===========================================================================================================
Alert_up = ta.crossover(h,0)
Alert_dn = ta.crossunder(l,0)
Alert_swing = Alert_up or Alert_dn
// "." in alert title for the alerts to show in the right order up/down/swing
alertcondition(Alert_up, ". MoBars Crossing 0 Up", "MoBars Up - Bullish Mode Detected!")
alertcondition(Alert_dn, ".. MoBars Crossing 0 Down", "MoBars Down - Bearish Mode Detected!")
alertcondition(Alert_swing, "... MoBars Crossing 0", "Mobars Swing - Possible Reversal Detected!")
