This is a modified version of a public Amibroker indicator, called Firefly.
I disabled the additional smoothing (you can enable it via options page) and updated the visual rendering (simple 3D look, histo, bar colors et al). Also, have added an option to show enclosing BB.
You can trade this like any other oscillator -- 80/20 OB/OS levels, divergences, ...
Here's a chart showing some possible customizations that are supported:
Do let me know what you guys think.
List of my public indicators: bit.ly/1LQaPK8
List of my app-store indicators: blog.tradingview.com/?p=970
I disabled the additional smoothing (you can enable it via options page) and updated the visual rendering (simple 3D look, histo, bar colors et al). Also, have added an option to show enclosing BB.
You can trade this like any other oscillator -- 80/20 OB/OS levels, divergences, ...
Here's a chart showing some possible customizations that are supported:
Do let me know what you guys think.
List of my public indicators: bit.ly/1LQaPK8
List of my app-store indicators: blog.tradingview.com/?p=970
List of my free indicators: bit.ly/1LQaPK8
List of my indicators at Appstore: blog.tradingview.com/?p=970
List of my indicators at Appstore: blog.tradingview.com/?p=970
// // @author LazyBear // // List of my public indicators: http://bit.ly/1LQaPK8 // List of my app-store indicators: http://blog.tradingview.com/?p=970 // // Original idea from a public Amibroker indicator published by @Yasu // study(title = "Firefly Oscillator [LazyBear]", shorttitle="FIREFLY_LB") m=input(10,title= "Lookback Length", minval= 5, maxval=20) n1=input(3, title="Signal Smoothing", minval=3, maxval=10) as=input(false, title="Double smooth Osc") bt=input(false, title="Use ZLEMA") seb=input(false, title="Show Enclosing BB") lbb=input(20, title="Enclosing BB Length") mbb1=input(2.0, title="Enclosing BB Multiplier") hbr=input(false, title="Highlight Breaches") ebc=input(false, title="Enable bar colors") calc_zlema(src, length) => ema1=ema(src, length) ema2=ema(ema1, length) d=ema1-ema2 ema1+d ma(s,l) => bt==false?ema(s,l):calc_zlema(s,l) v2=(high+low+close*2)/4 v3=ma(v2,m) v4=stdev(v2,m) v5=(v2-v3)*100/iff(v4==0,1,v4) v6=ma(v5,n1) v7=as?ma(v6,n1):v6 ww=(ma(v7,m)+100)/2-4 mm=highest(ww,n1) plot(ww!=50 and mm!=50 and ((ww>50 and mm>50) or (ww<50 and mm<50))?50:na, color=gray, style=linebr, title="Midline") d=ww>50?min(ww,mm):mm<50?max(ww,mm):na dc=d>50?d>d[1]?green:orange:d<d[1]?red:orange plot(seb?na:d, title="Histo", linewidth=2, color=dc, histbase=50, style=histogram) wwl=plot(ww, title="Oscillator", linewidth=1, color=red) mml=plot(mm, title="Signal", linewidth=1, color=green) fill(wwl,mml,red, transp=60, title="OscillatorSignal Fill") basis = seb?sma(ww, lbb):na dev = seb?mbb1 * stdev(ww, lbb):na upper = seb?basis + dev:na lower = seb?basis - dev:na // Uncomment the next line to show BB midline //plot(basis, color=#0066CC, title="Enclosing BB Mid") p1 = plot(seb?upper:na, color=gray, title="Enclosing BB Upper") p2 = plot(seb?lower:na, color=gray, title="Enclosing BB Lower") fill(p1,p2, gray, title="Enclosing BB Fill") b_color = (ww > upper) ? red : (ww < lower) ? green : na bgcolor(hbr ? b_color : na) bc=ebc?d>50?d>d[1]?lime:orange:d<d[1]?red:orange:na barcolor(bc)