This simple Pine script is an implementation of the Dynamic Reactor indicator. The indicator is designed to dynamically adjust to market conditions and identify trend reversals.
The indicator takes one input parameter: the length of the Dynamic Reactor. The script calculates the high, low, and midpoint values of the Dynamic Reactor using a simple moving average (SMA) function. The plot colors are determined by the current price in relation to the high and low values. If the price is above the high value, the plot is colored green. If the price is below the low value, the plot is colored red. Otherwise, the plot is colored gray. The area between the high and low values is filled with a transparent color to help visualize the range of the indicator.
Can you add an alert? Please, add an alert to enter the green or red area, which is very important to me. Thank you.
owho2h
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Is there a reason why length dr is set to 50?
chervolino
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@owho2h, There are many possible reasons why the length parameter dr is set to 50. A possible reason is that in the specific asset, a value of 50 has been found to give for me good results. However, it is important to note that the optimal value of dr can vary by market and it is often necessary to experiment with different values to find the best setting for a particular asset. Best regards
kolopolo253
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great work
chervolino
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@kolopolo253, Thank you for your feedback. your are wellcome
abstract_guy
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Great job! This looks very useful :) having a go at it now, looking forward to your future indicators
Ether2020
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Interesting script, my dear friend! Thank you so much!
chervolino
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@Ether2020, Thank you for your feedback and it's nice to know that you find the tool useful
Ether2020
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@chervolino You too my friend and, I will experiment with it to filter more noise but the concept is very good. Will come back with some ideas!