Here is the 2nd version of CapnsBandsV2 for Mateys... Remind you this a trend indicator NOT a BUY and SELL. Its up to you how you read it. Defaults for Smaller TF like 15Mnts. Enjoy it. :)
//Coded by CapnOscar on 16.04.2015 - Say Thanks? study(shorttitle="CapnsBBV2", title="CapnsBandsV2", overlay=true) //Define Variables max = 80 hi = 70 mup = 50.5 mdo = 49.5 lo = 30 min = 20 //MiniTrend src1 = close, len1 = input(21, minval=1, title="MiniTrend RSI") up1 = rma(max(change(src1), 0), len1) down1 = rma(-min(change(src1), 0), len1) rsi1 = down1 == 0 ? 100 : up1 == 0 ? 0 : 100 - (100 / (1 + up1 / down1)) //MajorTrend src2 = close, len2 = input(84, minval=1, title="MajorTrend") up2 = rma(max(change(src2), 0), len2) down2 = rma(-min(change(src2), 0), len2) rsi2 = down2 == 0 ? 100 : up2 == 0 ? 0 : 100 - (100 / (1 + up2 / down2)) rsi2c = rsi2 > mup ? lime : rsi2 < mdo ? red : rsi2 == 50 ? aqua : aqua // paint candles according rsicrossings pb = input(title="Paint Bars", type=bool, defval=true) barcolor(pb and rsi2 > mup ? close > open ? lime : green : pb and rsi2 < mdo ? close > open ? red : maroon : close > open ? aqua : navy) //TakeProfit Its not ready yet will Check later //signb = iff(rsi2 < mdo and rsi1[1] < lo and rising(rsi1, 1), low, na) //plb = plotshape(signb, style=shape.triangleup, location=location.belowbar, color = green, textcolor = green, text="$" ) // Paint CapnsBands BBlength = input(80, minval=1) src = input(close, title="Source") mult = input(2.0, minval=0.001, maxval=50) basis = sma(src, BBlength) dev = mult * stdev(src, BBlength) upper = basis + dev lower = basis - dev p0 = plot(basis, linewidth=3, color=rsi2c) p1 = plot(upper, color=green) p2 = plot(lower, color=red) fill(p1, p0, color=green, transp=95) fill(p0, p2, color=red, transp=95)