Rob Hoffman Inventory Retracement Bars

This topic has 11 replies, 6 voices, and was last updated 1 year ago by robertogozzi.

Tagged: Bars, Hoffman, Inventory, Inventory Retracement Bars, Overlay, retracement, Rob, Rob Hoffman - Overlay Set

Viewing 12 posts - 1 through 12 (of 12 total)

02/19/2022 at 5:15 AM #188512

Mary

Could someone please translate Tradingview’s Rob Hoffman Inventory Retracement Bar Indicator to Prorealtime. Code in Tradingview is as follows:

study(“Rob Hoffman – Overlay Set”, shorttitle = “RH – MAs”, overlay = true)

a = sma(close,3)
b = sma(close,5)

c = ema(close,18)
d = ema(close,20)

e = sma(close,50)
f = sma(close,89)
g = ema(close,144)
h = sma(close,200)

k = ema(close,35)
r = rma(tr,35)
ku = k + r*0.5
kl = k – r*0.5

plot(a, title = “Fast Speed Line”, linewidth = 2, color = #0000FF)
plot(b, title = “Slow Speed Line”, linewidth = 2, color = fuchsia)
plot(c, title = “Fast Primary Trend Line”, linewidth = 3, color = #00FF00)
plot(d, title = “Slow Primary Trend Line”, linewidth = 3, color = #000000)
plot(e, title = “Trend Line – 1”, linewidth = 3, color = #0000FF, style = circles)
plot(f, title = “Trend Line – 2”, linewidth = 3, color = #20B2AA)
plot(g, title = “Trend Line – 3”, linewidth = 3, color = #FF4500)
plot(h, title = “Trend Line – 4”, linewidth = 3, color = fuchsia)

plot(k, title = “No Trend Zone – Midline”, linewidth = 2, color = #3CB371)
plot(ku, title = “No Trend Zone – Upperline”, linewidth = 2, color = #3CB371)
plot(kl, title = “No Trend Zone – Lowerline”, linewidth = 2, color = #3CB371)

Mary

Participant

Topics: 35

Replies: 40

Been thanked: 4 times

02/19/2022 at 3:54 PM #188526

robertogozzi

The code you posted is the Rob Hoffman – Overlay Set (https://it.tradingview.com/script/al4ABhwU-Rob-Hoffman-Overlay-Set/):

// Rob Hoffman - Overlay Set
//
// https://it.tradingview.com/script/al4ABhwU-Rob-Hoffman-Overlay-Set/
// https://www.prorealcode.com/topic/rob-hoffman-inventory-retracement-bars/
//
Asma = average[3,0](close)
Bsma = average[5,0](close)

Csma = average[18,0](close)
Dsma = average[20,0](close)

Esma = average[50,0](close)
Fsma = average[89,0](close)
Gsma = average[144,0](close)
Hsma = average[200,0](close)

Kema = average[35,1](close)
Rrma, ignored = CALL "Rma"[10,1] //https://www.prorealcode.com/prorealtime-indicators/rma-recursive-moving-average/
Ku   = Kema + (Rrma * 0.5)
Kl   = Kema - (Rrma * 0.5)

RETURN Asma AS "Fast Speed Line",Bsma AS "Slow Speed Line",Csma AS "Fast Primary Trend Line",Dsma AS "Slow Primary Trend Line",Esma AS "Trend Line - 1",Fsma AS "Trend Line - 2",Gsma AS "Trend Line - 3",Hsma AS "Trend Line - 4",Kema AS "NO Trend Zone - MidLine",Ku   AS "NO Trend Zone - UpperLine",Kl   AS "NO Trend Zone - LowerLine"

// Rob Hoffman - Overlay Set

// https://it.tradingview.com/script/al4ABhwU-Rob-Hoffman-Overlay-Set/

// https://www.prorealcode.com/topic/rob-hoffman-inventory-retracement-bars/

Asma = average[3,0](close)

Bsma = average[5,0](close)

Csma = average[18,0](close)

Dsma = average[20,0](close)

Esma = average[50,0](close)

Fsma = average[89,0](close)

Gsma = average[144,0](close)

Hsma = average[200,0](close)

Kema = average[35,1](close)

Rrma, ignored = CALL "Rma"[10,1] //https://www.prorealcode.com/prorealtime-indicators/rma-recursive-moving-average/

Ku = Kema + (Rrma * 0.5)

Kl = Kema - (Rrma * 0.5)

RETURN Asma AS "Fast Speed Line",Bsma AS "Slow Speed Line",Csma AS "Fast Primary Trend Line",Dsma AS "Slow Primary Trend Line",Esma AS "Trend Line - 1",Fsma AS "Trend Line - 2",Gsma AS "Trend Line - 3",Hsma AS "Trend Line - 4",Kema AS "NO Trend Zone - MidLine",Ku AS "NO Trend Zone - UpperLine",Kl AS "NO Trend Zone - LowerLine"

robertogozzi

Moderator

Topics: 69

Replies: 17188

Been thanked: 4064 times

02/19/2022 at 10:05 PM #188546

Mary

Hello, Sorry I posted the wrong code for Rob Hoffman Inventory Retracement Bar Indicators

Here is the correct code from Tradingview, if possible to translate to Prorealtime:

study(title=”UCS_Rob Hoffman_Inventory Retracement Bar”, shorttitle=”UCS_RH_IRB”, precision=2, overlay=true)

z = input(45, title=”Inventory Retracement Percentage %”, maxval=100)

// Candle Range
a = abs(high – low)
// Candle Body
b = abs(close – open)
// Percent to Decimal
c = z/100

// Range Verification
rv = b < c*a

// Price Level for Retracement
x = low + (c * a)
y = high – (c * a)

sl = rv == 1 and high > y and close < y and open < y
ss = rv == 1 and low < x and close > x and open > x

// Line Definition
li = sl ? y : ss ? x : (x+y)/2

// Plot Statement
plotshape(sl, style=shape.triangledown, location=location.abovebar, color=red, title = “Long Bar”, transp = 0)
plotshape(ss, style=shape.triangleup, location=location.belowbar, color=green, title = “Short Bar”, transp = 0)

plot(li, style = line, color = blue, title = “Inventory Bar Retracement Price Line”)

Mary

Participant

Topics: 35

Replies: 40

Been thanked: 4 times

02/21/2022 at 1:07 PM #188604

Nicolas

Here is the translation of this last code about Rob Hoffman inventory retracement bars:

z = 45//Inventory Retracement Percentage %

// Candle Range
a = abs(high - low)
// Candle Body
b = abs(close - open)
// Percent to Decimal
c = z/100

// Range Verification
rv = b < c*a

// Price Level for Retracement
x = low + (c * a)
y = high - (c * a)

sl = rv = 1 and high > y and close < y and open < y
ss = rv = 1 and low < x and close > x and open > x

// Line Definition
if sl then 
li=y
drawarrowdown(barindex,high) coloured("red")
elsif ss then 
li=x
drawarrowup(barindex,low) coloured("green")
else
li=(x+y)/2
endif

return li

z = 45//Inventory Retracement Percentage %

// Candle Range

a = abs(high - low)

// Candle Body

b = abs(close - open)

// Percent to Decimal

c = z/100

// Range Verification

rv = b < c*a

// Price Level for Retracement

x = low + (c * a)

y = high - (c * a)

sl = rv = 1 and high > y and close < y and open < y

ss = rv = 1 and low < x and close > x and open > x

// Line Definition

if sl then

li=y

drawarrowdown(barindex,high) coloured("red")

elsif ss then

li=x

drawarrowup(barindex,low) coloured("green")

else

li=(x+y)/2

endif

return li

Nicolas

Keymaster

Topics: 81

Replies: 20863

Been thanked: 4774 times

02/21/2022 at 10:43 PM #188630

Mary

Thank you Nicolas,

its working very well!

Mary

Participant

Topics: 35

Replies: 40

Been thanked: 4 times

03/27/2022 at 3:14 PM #190585

faces

please how do i get Rob Hoffman’s overlay and inventory retracement bar for mt4

faces

Participant

Topics: 0

Replies: 2

Been thanked: 0 times

03/27/2022 at 3:24 PM #190586

faces

Please can anyone help me with the Rob Hoffman’s overlay and retracement Bars for mt4?

thanks you

faces

Participant

Topics: 0

Replies: 2

Been thanked: 0 times

06/01/2023 at 8:11 AM #215527

ayrton

hello I used the overlay set of ROB hoffman posted by roberto tot works except this part of code concerning the "no trend zone" the upper band is calculated because if the puts it in histogram they appear but on the whole screen on the other hand nothing n appears for the lower band I imported the code and the rma [10.1] is present

Kema = average [ 35,1 ] (close )

Rrma, ignored = CALL "Rma " [ 10,1 ] //https://www.prorealcode.com/prorealtime-indicators/rma-recursive-moving-average/

Ku = Kema + (Rrma * 0.5 )

KL = Kema- (Rrma * 0.5 )

can someone help me

THANKS

ayrton

Participant

Topics: 2

Replies: 4

Been thanked: 1 time

06/04/2023 at 12:02 PM #215627

robertogozzi

@ayrton

my fault, you are absolutely right. I misread the original code and used CLOSE, instead of TR, for the calculation of RMA.

This is the new RMA code (I named the file for indicator RmaTR):

// RMA - Recursive Moving Average (calcolated on TR, instead of CLOSE)
//
// https://www.prorealcode.com/topic/media-mobile-ricorsiva/#post-155638
//
//N   = 10      //RMA Periods
//P   = 6       //Smoothing Periods
N     = max(1,min(999,N))
P     = max(1,min(999,P))
myTR  = max(Range,max(abs(high - close[1]),abs(low - close[1])))
Rma   = 0
FOR i = N-1 DOWNTO 0
   j = N - i
   Rma = Rma + (summation[j](myTR[i]) / j)
NEXT
Rma = Rma / N
Avg = average[P,0](Rma)
RETURN Rma as "RmaTR", Avg as "Average RMA"

// RMA - Recursive Moving Average (calcolated on TR, instead of CLOSE)

// https://www.prorealcode.com/topic/media-mobile-ricorsiva/#post-155638

//N = 10 //RMA Periods

//P = 6 //Smoothing Periods

N = max(1,min(999,N))

P = max(1,min(999,P))

myTR = max(Range,max(abs(high - close[1]),abs(low - close[1])))

Rma = 0

FOR i = N-1 DOWNTO 0

j = N - i

Rma = Rma + (summation[j](myTR[i]) / j)

Rma = Rma / N

Avg = average[P,0](Rma)

RETURN Rma as "RmaTR", Avg as "Average RMA"

and this is the modified Rob Hoffman – Overlay Set indicator, that I named Rob Hoffman – Overlay Set TR:

// Rob Hoffman - Overlay Set (calculated on TR, instead of CLOSE)
//
// https://it.tradingview.com/script/al4ABhwU-Rob-Hoffman-Overlay-Set/
// https://www.prorealcode.com/topic/rob-hoffman-inventory-retracement-bars/
//
Asma = average[3,0](close)
Bsma = average[5,0](close)

Csma = average[18,0](close)
Dsma = average[20,0](close)

Esma = average[50,0](close)
Fsma = average[89,0](close)
Gsma = average[144,0](close)
Hsma = average[200,0](close)

Kema = average[35,1](close)
myTR = max(Range,max(abs(high - close[1]),abs(low - close[1])))
Rrma, ignored = CALL "RmaTR"[10,1](myTR) //https://www.prorealcode.com/prorealtime-indicators/rma-recursive-moving-average/
Ku   = Kema + (Rrma * 0.5)
Kl   = Kema - (Rrma * 0.5)

RETURN Asma AS "Fast Speed Line",Bsma AS "Slow Speed Line",Csma AS "Fast Primary Trend Line",Dsma AS "Slow Primary Trend Line",Esma AS "Trend Line - 1",Fsma AS "Trend Line - 2",Gsma AS "Trend Line - 3",Hsma AS "Trend Line - 4",Kema AS "NO Trend Zone - MidLine",Ku   AS "NO Trend Zone - UpperLine",Kl   AS "NO Trend Zone - LowerLine"

// Rob Hoffman - Overlay Set (calculated on TR, instead of CLOSE)

// https://it.tradingview.com/script/al4ABhwU-Rob-Hoffman-Overlay-Set/

// https://www.prorealcode.com/topic/rob-hoffman-inventory-retracement-bars/

Asma = average[3,0](close)

Bsma = average[5,0](close)

Csma = average[18,0](close)

Dsma = average[20,0](close)

Esma = average[50,0](close)

Fsma = average[89,0](close)

Gsma = average[144,0](close)

Hsma = average[200,0](close)

Kema = average[35,1](close)

myTR = max(Range,max(abs(high - close[1]),abs(low - close[1])))

Rrma, ignored = CALL "RmaTR"[10,1](myTR) //https://www.prorealcode.com/prorealtime-indicators/rma-recursive-moving-average/

Ku = Kema + (Rrma * 0.5)

Kl = Kema - (Rrma * 0.5)

sorry for the inconvenience.

robertogozzi

Moderator

Topics: 69

Replies: 17188

Been thanked: 4064 times

06/15/2023 at 9:39 AM #216264

ayrton

hi roberto

thank you very much , all it ‘s ok

ERIC

ayrton

Participant

Topics: 2

Replies: 4

Been thanked: 1 time

09/27/2023 at 12:35 PM #221674

Titodito1

Hi Roberto,

I think that the average in Line 14 of the Overlay is and Exponential Average.

I am still trying to figure out the reason why this is the only exponential of the 4 averages.

Titodito1

Participant

Topics: 0

Replies: 1

Been thanked: 0 times

09/27/2023 at 4:34 PM #221693

robertogozzi

Thank you for pointing that out, I just realized there are 3 EMAs (C, D and G). This is the updated code:

// Rob Hoffman - Overlay Set
//
// https://it.tradingview.com/script/al4ABhwU-Rob-Hoffman-Overlay-Set/
// https://www.prorealcode.com/topic/rob-hoffman-inventory-retracement-bars/
//
Asma = average[3,0](close)
Bsma = average[5,0](close)

Cema = average[18,1](close)
Demx = average[20,1](close)

Esma = average[50,0](close)
Fsma = average[89,0](close)
Gema = average[144,1](close)
Hsma = average[200,0](close)

Kema = average[35,1](close)
Rrma, ignored = CALL "Rma"[10,1] //https://www.prorealcode.com/prorealtime-indicators/rma-recursive-moving-average/
Ku   = Kema + (Rrma * 0.5)
Kl   = Kema - (Rrma * 0.5)

RETURN Asma AS "Fast Speed Line",Bsma AS "Slow Speed Line",Cema AS "Fast Primary Trend Line",Demx AS "Slow Primary Trend Line",Esma AS "Trend Line - 1",Fsma AS "Trend Line - 2",Gema AS "Trend Line - 3",Hsma AS "Trend Line - 4",Kema AS "NO Trend Zone - MidLine",Ku   AS "NO Trend Zone - UpperLine",Kl   AS "NO Trend Zone - LowerLine"

// Rob Hoffman - Overlay Set

// https://it.tradingview.com/script/al4ABhwU-Rob-Hoffman-Overlay-Set/

// https://www.prorealcode.com/topic/rob-hoffman-inventory-retracement-bars/

Asma = average[3,0](close)

Bsma = average[5,0](close)

Cema = average[18,1](close)

Demx = average[20,1](close)

Esma = average[50,0](close)

Fsma = average[89,0](close)

Gema = average[144,1](close)

Hsma = average[200,0](close)

Kema = average[35,1](close)

Rrma, ignored = CALL "Rma"[10,1] //https://www.prorealcode.com/prorealtime-indicators/rma-recursive-moving-average/

Ku = Kema + (Rrma * 0.5)

Kl = Kema - (Rrma * 0.5)

RETURN Asma AS "Fast Speed Line",Bsma AS "Slow Speed Line",Cema AS "Fast Primary Trend Line",Demx AS "Slow Primary Trend Line",Esma AS "Trend Line - 1",Fsma AS "Trend Line - 2",Gema AS "Trend Line - 3",Hsma AS "Trend Line - 4",Kema AS "NO Trend Zone - MidLine",Ku AS "NO Trend Zone - UpperLine",Kl AS "NO Trend Zone - LowerLine"

// Rob Hoffman - Overlay Set (calculated on TR, instead of CLOSE)
//
// https://it.tradingview.com/script/al4ABhwU-Rob-Hoffman-Overlay-Set/
// https://www.prorealcode.com/topic/rob-hoffman-inventory-retracement-bars/
//
Asma = average[3,0](close)
Bsma = average[5,0](close)

Cema = average[18,1](close)
Demx = average[20,1](close)

Esma = average[50,0](close)
Fsma = average[89,0](close)
Gema = average[144,1](close)
Hsma = average[200,0](close)

Kema = average[35,1](close)
myTR = max(Range,max(abs(high - close[1]),abs(low - close[1])))
Rrma, ignored = CALL "RmaTR"[10,1](myTR) //https://www.prorealcode.com/prorealtime-indicators/rma-recursive-moving-average/
Ku   = Kema + (Rrma * 0.5)
Kl   = Kema - (Rrma * 0.5)

RETURN Asma AS "Fast Speed Line",Bsma AS "Slow Speed Line",Cema AS "Fast Primary Trend Line",Demx AS "Slow Primary Trend Line",Esma AS "Trend Line - 1",Fsma AS "Trend Line - 2",Gema AS "Trend Line - 3",Hsma AS "Trend Line - 4",Kema AS "NO Trend Zone - MidLine",Ku   AS "NO Trend Zone - UpperLine",Kl   AS "NO Trend Zone - LowerLine"

// Rob Hoffman - Overlay Set (calculated on TR, instead of CLOSE)

// https://it.tradingview.com/script/al4ABhwU-Rob-Hoffman-Overlay-Set/

// https://www.prorealcode.com/topic/rob-hoffman-inventory-retracement-bars/

Asma = average[3,0](close)

Bsma = average[5,0](close)

Cema = average[18,1](close)

Demx = average[20,1](close)

Esma = average[50,0](close)

Fsma = average[89,0](close)

Gema = average[144,1](close)

Hsma = average[200,0](close)

Kema = average[35,1](close)

myTR = max(Range,max(abs(high - close[1]),abs(low - close[1])))

Rrma, ignored = CALL "RmaTR"[10,1](myTR) //https://www.prorealcode.com/prorealtime-indicators/rma-recursive-moving-average/

Ku = Kema + (Rrma * 0.5)

Kl = Kema - (Rrma * 0.5)

robertogozzi

Moderator

Topics: 69

Replies: 17188

Been thanked: 4064 times

Author

Posts

Viewing 12 posts - 1 through 12 (of 12 total)

Find exclusive trading pro-tools on