//PRC_Q-Trend | indicator
//17.07.23
//Nicolas @ http://www.prorealcode.com
//Sharing ProRealTime knowledge
// —settings
//p = 200 //Trend period
//atrp = 14 //ATR Period
//mult = 1.0 //ATR Multiplier
//mode = 1 //Signal mode options = [1=”Type A”, 2=”Type B”]
//useemasmoother = 0 //Smooth source with EMA? 0=false ; 1=true
//srcemaperiod = 3 //EMA Smoother period
//colorbars = 0 //Color bars? 0=false ; 1=true
//signalsview = 0 //0 = trend inversion ; 1 = strong buy / strong sell only
// — end of settings
source = customclose
// Calculations
if useemasmoother then
src = average[srcemaperiod,1](source)
else
src=source
endif
hh = highest[p](src) // Highest of src p-bars back;
ll = lowest[p](src) // Lowest of src p-bars back.
d = hh – ll
if barindex>p then
once m = (hh + ll) / 2 // Initial trend line;
atr = AverageTrueRange[atrp][1] // ATR;
epsilon = mult * atr // Epsilon is a mathematical variable used in many different theorems in order to simplify work with mathematical object. Here it used as sensitivity measure.
if mode=2 then //type B
changeup = src crosses over m+epsilon or src crosses under m+epsilon
changedown = src crosses over m-epsilon or src crosses under m-epsilon
else
changeup = src crosses over m+epsilon or src > m+epsilon
changedown = src crosses under m-epsilon or src < m-epsilon
endif
sb = open < ll + d / 8 and open >= ll
ss = open > hh – d / 8 and open <= hh
strongbuy = sb or sb[1] or sb[2] or sb[3] or sb[4]
strongsell = ss or ss[1] or ss[2] or ss[3] or ss[4]
if (changeup or changedown) then
if changeup then
m=m + epsilon
elsif changedown then
m=m – epsilon
endif
else
m=m[1]
endif
if changeup then
r=0
g=255
elsif changedown then
r=255
g=0
endif
if colorbars then
drawcandle(open,high,low,close)coloured(r,g,0)
endif
if signalsview=1 then
if strongbuy and ls<>1 then
drawtext(“▲”,barindex,low) coloured(“lime”)
ls=1
endif
if strongsell and ls<>-1 then
drawtext(“▼”,barindex,high) coloured(“red”)
ls=-1
endif
else
if r<>r[1]and r>0 then
drawtext(“▼”,barindex[1],m[1]) coloured(“red”)
endif
if r<>r[1]and r=0 then
drawtext(“▲”,barindex[1],m[1]) coloured(“lime”)
endif
endif
endif
RETURN m style(line,3) coloured(r,g,0)
.
