//@version=4
//Original Script > @DonovanWall
// Actual Version > @guikroth
//////////////////////////////////////////////////////////////////////////
// Settings for 5min chart, BTCUSDC. For Other coin, change the paremeters
//////////////////////////////////////////////////////////////////////////
study(title="Range Filter 5min", overlay=true)
// Source
src = input(defval=close, title="Source")
// Sampling Period
// Settings for 5min chart, BTCUSDC. For Other coin, change the paremeters
per = input(defval=100, minval=1, title="Sampling Period")
// Range Multiplier
mult = input(defval=3.0, minval=0.1, title="Range Multiplier")
// Smooth Average Range
smoothrng(x, t, m) =>
wper = t * 2 - 1
avrng = ema(abs(x - x[1]), t)
smoothrng = ema(avrng, wper) * m
smoothrng
smrng = smoothrng(src, per, mult)
// Range Filter
rngfilt(x, r) =>
rngfilt = x
rngfilt := x > nz(rngfilt[1]) ? x - r < nz(rngfilt[1]) ? nz(rngfilt[1]) : x - r
:
x + r > nz(rngfilt[1]) ? nz(rngfilt[1]) : x + r
rngfilt
filt = rngfilt(src, smrng)
// Filter Direction
upward = 0.0
upward := filt > filt[1] ? nz(upward[1]) + 1 : filt < filt[1] ? 0 : nz(upward[1])
downward = 0.0
downward := filt < filt[1] ? nz(downward[1]) + 1 : filt > filt[1] ? 0 :
nz(downward[1])
// Target Bands
hband = filt + smrng
lband = filt - smrng
// Colors
filtcolor = upward > 0 ? [Link] : downward > 0 ? [Link] : [Link]
barcolor = src > filt and src > src[1] and upward > 0 ? [Link] :
src > filt and src < src[1] and upward > 0 ? [Link] :
src < filt and src < src[1] and downward > 0 ? [Link] :
src < filt and src > src[1] and downward > 0 ? [Link] : [Link]
filtplot = plot(filt, color=filtcolor, linewidth=3, title="Range Filter")
// Target
hbandplot = plot(hband, color=[Link], transp=100, title="High Target")
lbandplot = plot(lband, color=[Link], transp=100, title="Low Target")
// Fills
fill(hbandplot, filtplot, color=[Link], title="High Target Range")
fill(lbandplot, filtplot, color=[Link], title="Low Target Range")
// Bar Color
barcolor(barcolor)
// Break Outs
longCond = bool(na)
shortCond = bool(na)
longCond := src > filt and src > src[1] and upward > 0 or
src > filt and src < src[1] and upward > 0
shortCond := src < filt and src < src[1] and downward > 0 or
src < filt and src > src[1] and downward > 0
CondIni = 0
CondIni := longCond ? 1 : shortCond ? -1 : CondIni[1]
longCondition = longCond and CondIni[1] == -1
shortCondition = shortCond and CondIni[1] == 1
//Alerts
plotshape(longCondition, title="Buy Signal", text="BUY", textcolor=[Link],
style=[Link], size=[Link], location=[Link],
color=[Link], transp=0)
plotshape(shortCondition, title="Sell Signal", text="SELL", textcolor=[Link],
style=[Link], size=[Link], location=[Link],
color=[Link], transp=0)
alertcondition(longCondition, title="Buy Alert", message="BUY")
alertcondition(shortCondition, title="Sell Alert", message="SELL")
//For use like Strategy,
//1. Change the word "study" for "strategy" at the top
//2. Remove the "//" below
//[Link]( id = "Long", long = true, when = longCondition )
//[Link]( id = "Long", when = shortCondition )
