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OPEN-SOURCE SCRIPT
Updated

Weighted Bulls-Bears Variety Smoothed [Loxx]

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Weighted Bulls-Bears Variety Smoothed highlights potential buy and sell moments in the market. Users can customize the data source and select their preferred type of moving average for calculations. The resulting visualization is a column-style plot that changes color based on bullish or bearish market conditions. Additionally, the script can color chart bars and provide visual markers to indicate buying ("Long") or selling ("Short") opportunities. Alerts can also be set for these trading signals.

█ Inputs:

  • Users can choose the source for calculations (e.g., closing price).
  • They can set periods for calculations and smoothing.
  • They can select the type of moving average they prefer for smoothing: EMA, FEMA, LWMA, SMA, or SMMA.


█ Weighted Bulls-Bears Calculation:

  • It determines the highest and lowest prices over a user-defined period.
  • Then, it calculates the 'bull' and 'bear' values based on these highest and lowest prices. These values are weighted based on their distance from the current price.


█ Extras

  • Alerts
  • Signals

Release Notes
Fixed code error

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

loxx
Public Telegram Group, t.me/algxtrading_public

VIP Membership Info: patreon.com/algxtrading/membership
Also on:
Bears PowerbullsbearsCentered OscillatorsExponential Moving Average (EMA)fastexponentialmovingaverageFEMAgigakaleidoscopehistogramloxxnnfxweightbullsbearsweightbullsbearssmoothed

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Bears PowerbullsbearsCentered OscillatorsExponential Moving Average (EMA)fastexponentialmovingaverageFEMAgigakaleidoscopehistogramloxxnnfxweightbullsbearsweightbullsbearssmoothed

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

loxx
Public Telegram Group, t.me/algxtrading_public

VIP Membership Info: patreon.com/algxtrading/membership
Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.