[LAVA] UNO Overlay
EDIT: Ignore the comments... I can't get the update to show due to hard brackets "" being censored for some reason.... but they show up in here so this is where the updates will show.
This is the Ultimate (Nonlinear) Oscillator in overlay format. Took me a while to figure out the best configuration and finally found this one. From what I've observed, this is basically a support/resistance line indicator. When the candle moves thru the supporting/resisting line, its a entry/exit point or an indicator that the opposite side should be targeted depending on the market condition. Ignore the wicks as they go thru the line constantly.
Go here to see updates...
pastebin.com/vziz8rzd
This is the Ultimate (Nonlinear) Oscillator in overlay format. Took me a while to figure out the best configuration and finally found this one. From what I've observed, this is basically a support/resistance line indicator. When the candle moves thru the supporting/resisting line, its a entry/exit point or an indicator that the opposite side should be targeted depending on the market condition. Ignore the wicks as they go thru the line constantly.
Go here to see updates...
pastebin.com/vziz8rzd
study(title="[LAVA] Ultimate Nonlinear Oscillator", shorttitle="UNO_L", overlay=true) length7 = input(7, minval=1), length14 = input(14, minval=1), length28 = input(28, minval=1) average(bp, tr_, length) => sum(bp, length) / sum(tr_, length) lowers = highest(low, length14) uppers = lowest(high, length14) high_ = max(high, close[1]) low_ = min(low, close[1]) bp = close - low_ tr_ = high_ - low_ tp_ = uppers - lowers avg7 = average(bp, tr_, length7) avg14 = average(bp, tr_, length14) avg28 = average(bp, tr_, length28) out = 100 * (4*avg7 + 2*avg14 + avg28)/7 upper = uppers-out*(tp_*.015) lower = lowers+out*(tp_*.018) p2 = plot(lower, color=#00FF00, title="UNO TOP") p3 = plot(upper, color=#FF0000, title="UNO BOT")
