INVITE-ONLY SCRIPT
NeoIchi
Updated
The idea of this oscillator / indicator came from Ichimoku , how it draws and how it calculates different averages in different scales.
The formula used for this indicator is totally different from Ichimoku , as you can compare the left and right charts, with same setting between my indicator and ichimoku , different results show up.
The inputs that you can use for this indicator/oscillator :
1- HLC3 (better to through it on the chart just like ichimoku
2- acceleration - deceleration (set the first parameter to 5 and the second to 34 for standard calculations)
3- pure volume
4- OBV ( On Balance Volume )
5- Bill Williams MFI ( Market Facilitation Index )
6- Momentum : This one can have different options : set with Barry Burn's formula and bar scale for when the charts are 1 to 3 ratio (B 3) or when they are not 1 to 3 (B), Bill William standard (W), Hybrid with barry's input (Would be bar close but I replaced it with HLC3, better results) but Bill William time scale for calculations (H), and finally, use Bill Williams MFI as input but use Barry Burn's time scales in formula (H M)
If you have any specific input in mind that you think would be nice to have in this system, through a comment bellow and I will add it to the system.
This oscillator / indicator is for sale, you can buy a life long licence that would include all updates with 0.01 BTC. Send the BTC + transaction fee to the wallet address bellow :
12EDAYA52DzcXdh9aLC9Pqqfhm1jNMjxNo
after sending the BTC , contact me in pm and send the transaction ID with your trading view's ID and I will give you access to this oscillator / indicator
Release Notes
Changes that are made :1- separate control for the type of momentum, now you can just choose momentum for input and the default would be barry burn's settings on the second parameter, you can easily change the type of formula on the second parameter in the input section
2- the type of input will be shown so that you can easily identify what is what
3- added the bill williams candle identification names, it will only show when you choose HLC3 or Close as input, i personally prefer to show all of them on the bottom but the default shows them on top and bottom separately
4- switched the placement of william fractals to top and bottom by default, for some odd reason, when you would switch to momentum or other settings previously, they wouldn't update the scale properly, so, now if you want to have HLC3 or Close on the chart, you can manually set those two to above and bellow bars.
5- added the ability to just draw 31 last values or uncheck the box and have the value drawn in all the chart
6- added the ability to draw up to 6 moving averages, pesonally i use 4, each can be controlled separately to use EMA or SMA, considering that we use the first and second params for drawing two more movings, this will be more than enough for any type of system that would use multiple moving averages
Release Notes
This is the list of changes, get ready for a big one,The complete list of inputs are now :
- HLC3
- Close
- Volume
- MFI
- OBV
- Momentum ; Removed the hybrids, only Barry Burn and Bill Williams original formulas
- Acceleration - Deceleration
- RSI
- CCI
- Chaikin Money Flow
- Detrended Price
- Ease Of Movement
- Elders Force Index
- Money Flow
- Price Volume Trend
- Rate Of Change
- SMI Ergodic
- Williams %R
For adding these many options, I had to sacrifice the 6th moving average because there is a limitation on number of plots you can add to any script in trading view.
One thing to note, any place that the formula was using "Close" in original as input is replaced with hlc3. I already explained why hlc3 is a much better and reliable source of input compared to close.
Release Notes
Added Color coding to same of the indicators, when you are in obv or volume, the color code shows the volume like this :Green bar : volume > volume average 5 days & close > open
Lime bar : volume breakout 5 days & close > open
Maroon bar : volume > volume average 5 days & close < open
Red bar : volume breakout 5 days & close < open
If the line does not cross over moving average and donchian channel :
Aqua light bar : close > open
Blue dark bar : close < open
On CCI :
Lime : above 200
Green : above 100
Aqua : between 100 and -100
Maroon : bellow -100
Red : bellow -200
RSI :
Red : above 85
Marron : above 55
Aqua : between 45 and 55
Green : bellow 45
Lime : bellow 15
the value has color code too, if the current value is greater than previous bar it's aqua, bellow is blue and same value is navy
I had to sacrifice yet another moving average for all these color codings, it's a shame that trading view has a very bad and nasty way of calculating the number of plots based on the number of colors used per plot and a nastier hard limit of 64 plots :/
Release Notes
Added Different RSI settings to the possible indications, if you want to use original values for RSI instead of Barry Burn's Formula, set the momentum formula to Bill Williams !Added stochastic RSI to the possible indications
Added multiple Color codings to oscillators
Removed Moviing Averages and added all of that to NeoIchi Trailing Script (free to use)
Changed the way value signals are being colored, this will give accurate signals per indication now
Added option to choose different inputs other than HLC3 for all calculations
Invite-only script
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