Who is in Control.
This study shows who is in control by showing just the Bull side, the Bear side or a combined view. This study follows the same philosophy of simplicity I try to use as much as possible in my studies. The least number of parameters and as understandable as possible.
Len : length of the period
Signal : Signal to show change of trend
Disp Bull : Display/Hide Bull Side
Disp Bear : Display/Hide Bear Side
Disp Differential : Display/Hide the differential between Bulls and Bears.
This study shows who is in control by showing just the Bull side, the Bear side or a combined view. This study follows the same philosophy of simplicity I try to use as much as possible in my studies. The least number of parameters and as understandable as possible.
Len : length of the period
Signal : Signal to show change of trend
Disp Bull : Display/Hide Bull Side
Disp Bear : Display/Hide Bear Side
Disp Differential : Display/Hide the differential between Bulls and Bears.
// Madrid : 24/Apr/2015 : 00:07 : Who is in Control : WhosNControl : 2.0
// This measures the difference in PCT from the last Lowest/Highest Point
// to determine who is in control. Bulls or Bears.
//
study("MWho is in Control", shorttitle="MWhosNControl", precision=2)
src=close
len = input(13)
signal = input(3)
dispBull = input(true, title="Display Bull Side")
dispBear = input(true, title="Display Bear Side")
dispDiff = input(false, title="Display Differential")
smooth = input(true, title="Smooth")
lowerBand = 10
PI= 3.14159265358979
ssFilter( price, lowerBand ) =>
angle = sqrt(2)*PI/lowerBand
a1= exp(-angle)
b1 = 2*a1*cos(angle)
c2 = b1
c3 = -a1*a1
c1 = 1 - c2 -c3
filt = c1*(price + nz(price[1]))/2 + c2*nz(filt[1]) + c3*nz(filt[2])
lowest = lowest(src,len)
highest = highest(src,len)
diffBull = (src-lowest)*100/lowest
diffBear = (highest-src)*100/highest
diffBullS = ssFilter(diffBull, lowerBand)
diffBearS = ssFilter(diffBear, lowerBand)
differential = smooth?diffBullS-diffBearS:diffBull-diffBear
// Output
diffBullColor = diffBullS - sma(diffBullS, signal)>=0 ? lime:green
diffBearColor = diffBearS - sma(diffBearS, signal)>=0 ? red:maroon
plot(dispBull?(smooth?diffBullS:diffBull):na, color=diffBullColor, linewidth=2, style=columns)
plot(dispBear?(smooth?diffBearS:diffBear):na, color=diffBearColor, linewidth=2, style=columns)
diffColor = differential - sma(differential, signal) >=0 ? lime:red
plot(dispDiff?differential:na, color=diffColor, linewidth=2)
hline(0)
plot(dispBull?diffBullS:na, color=diffBullColor, linewidth=2)
plot(dispBear?diffBearS:na, color=diffBearColor, linewidth=2)