Hello,
I am wondering if you can help me with the conversion of an indicator found and checked on Tradinview platform. It is called TreL (https://www.tradingview.com/script/0d0HBnwB-TreL/), is free for use and it looks promising for identifying the entering and exit points. I know that everybody’s time is limited, but I think could be a valuable addition as an indicator on ProRealCode.
Thank you for your support!
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//@version=4
study(“TreL”,overlay=true)
length=100
HTF = input(“W”, type=input.resolution)
ti = change( time(HTF) ) != 0
c = fixnan( ti ? close : na )
//
cp = c
len = input(100, minval=1),off= 0,dev= input(2, “Deviation”,minval=0.01)
lreg = linreg(cp, len, off), lreg_x =linreg(cp, len, off+1)
b = bar_index, s = lreg – lreg_x,intr = lreg – b*s
dS = 0.0
for i=0 to len-1
dS:= dS + pow(cp[i]-(s*(b-i)+intr), 2)
de = sqrt(dS/(len))
up = (-de*dev) + c
dn= (de*dev) + c
c5=(high+low)/2
//
factor = 0.001
hb = 0.00 ,hb := nz(hb[1])
hl = 0.000, hl := nz(hl[1])
lb = 0.00 ,lb := nz(lb[1])
l1 = 0.000,l1 := nz(l1[1])
c2 = 0
c2 := nz(c2[1]) + 1
trend = 0,trend := nz(trend[1]),n = dn,x =up
if barstate.isfirst
c2 := 0
lb := n
hb := x
l1 := c5
hl := c5
hl
if c2 == 1
if x >= hb[1]
hb := x
hl := c5
trend := 1
trend
else
lb := n
l1 := c5
trend := -1
trend
if c > 1
if trend[1] > 0
hl := max(hl[1], c5)
if x >= hb[1]
hb := x
hb
else
if n < hb[1] – hb[1] * factor
lb := n
l1 := c5
trend := -1
trend
else
l1 := min(l1[1], c5 )
if n <= lb[1]
lb := n
lb
else
if x > lb[1] + lb[1] * factor
hb := x
hl := c5
trend := 1
trend
v = trend == 1 ? hb : trend == -1 ? lb : na
plot(v, color=trend == 1 ? color.blue : color.red, style=plot.style_circles, linewidth=1, title=”trend”, transp=0, join=true)
plot(v + ema(tr(true), length) * 2, color=color.gray)
plot(v – ema(tr(true), length) * 2,color=color.gray)
//
long = trend == 1 and trend[1] == -1
short = trend == -1 and trend[1] == 1
//
last_long = 0.0
last_short = 0.0
last_long := long ? time : nz(last_long[1])
last_short := short ? time : nz(last_short[1])
buy = crossover(last_long, last_short)
sell = crossover(last_short, last_long)
/////////////// Plotting ///////////////
plotshape(buy, title=”buy”, text=”B”, color=color.green, style=shape.labelup, location=location.belowbar, size=size.small, textcolor=color.white, transp=0) //plot for buy icon
plotshape(sell, title=”sell”, text=”S”, color=color.red, style=shape.labeldown, location=location.abovebar, size=size.small, textcolor=color.white, transp=0)
/////////////// Alerts ///////////////
alertcondition(buy, title=’buy’, message=’Buy’)
alertcondition(sell, title=’sell’, message=’Sell’)
.
