StockFetcher Forums · General Discussion · Follow Line Indicator<< >>Post Follow-up
snappyfrog
534 posts
msg #159588
Ignore snappyfrog
9/15/2022 10:28:18 AM

I am terrible at coding, so I was hoping some of you would be able to convert this to
something usable in SF. This is a tradingview code.

// © Dreadblitz
//@version=4
study(shorttitle="FLI", title="Follow Line Indicator", overlay=true)
//
BBperiod = input(defval = 21, title = "BB Period", type = input.integer, minval = 1)
BBdeviations = input(defval = 1.00, title = "BB Deviations", type = input.float, minval = 0.1, step=0.05)
UseATRfilter = input(defval = true, title = "ATR Filter", type = input.bool)
ATRperiod = input(defval = 5, title = "ATR Period", type = input.integer, minval = 1)
hl = input(defval = false, title = "Hide Labels", type = input.bool)
//
BBUpper=sma (close,BBperiod)+stdev(close, BBperiod)*BBdeviations
BBLower=sma (close,BBperiod)-stdev(close, BBperiod)*BBdeviations
//
TrendLine = 0.0
iTrend = 0.0
buy = 0.0
sell = 0.0
//
BBSignal = close>BBUpper? 1 : close//
if BBSignal == 1 and UseATRfilter == 1
TrendLine:=low-atr(ATRperiod)
if TrendLine TrendLine:=TrendLine[1]
if BBSignal == -1 and UseATRfilter == 1
TrendLine:=high+atr(ATRperiod)
if TrendLine>TrendLine[1]
TrendLine:=TrendLine[1]
if BBSignal == 0 and UseATRfilter == 1
TrendLine:=TrendLine[1]

//
if BBSignal == 1 and UseATRfilter == 0
TrendLine:=low
if TrendLine TrendLine:=TrendLine[1]
if BBSignal == -1 and UseATRfilter == 0
TrendLine:=high
if TrendLine>TrendLine[1]
TrendLine:=TrendLine[1]
if BBSignal == 0 and UseATRfilter == 0
TrendLine:=TrendLine[1]
//
iTrend:=iTrend[1]
if TrendLine>TrendLine[1]
iTrend:=1
if TrendLine iTrend:=-1
//
buy:=iTrend[1]==-1 and iTrend==1 ? 1 : na
sell:=iTrend[1]==1 and iTrend==-1? 1 : na
//
plot(TrendLine, color=iTrend > 0?color.blue:color.red ,style=plot.style_line,linewidth=2,transp=0,title="Trend Line")
plotshape(buy == 1 and hl == false? TrendLine-atr(8) :na, text='💣', style= shape.labelup, location=location.absolute, color=color.blue, textcolor=color.white, offset=0, transp=0,size=size.auto)
plotshape(sell == 1 and hl == false ?TrendLine+atr(8):na, text='🔨', style=shape.labeldown, location=location.absolute, color=color.red, textcolor=color.white, offset=0, transp=0,size=size.auto)
//
alertcondition(sell == 1 ,title="Sell",message="Sell")
alertcondition(buy == 1 ,title="Buy",message="Buy")
alertcondition(buy == 1 or sell == 1 ,title="Buy/Sell",message="Buy/Sell")

snappyfrog
534 posts
msg #159589
Ignore snappyfrog
9/15/2022 10:35:05 AM

"The FollowLine indicator is a trend following indicator. The blue/red lines are activated when the price closes above the upper Bollinger band or below the lower one.

Once the trigger of the trend direction is made, the FollowLine will be placed at High or Low (depending of the trend).

An ATR filter can be selected to place the line at a more distance level than the normal mode settled at candles Highs/Lows."

So, this shouldn't be so hard to make a scan after all. I will give it a try later tonight - after trading session.

StockFetcher Forums · General Discussion · Follow Line Indicator<< >>Post Follow-up

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