Hobble Skirt Bottom Impede Fashion (by ChartArt)

צפיות ‎2033‎
A very noisy indicator to detect bottoms and new uptrends.
Original idea by ChartArt.

First published indicator - constructive criticism welcome.
(The indicator is experimental and doesn't work most of the time.)

I would describe it as an "coincident indicator". The signals occur at approximately the same time as the conditions it signifies. Rather than predicting future events it changes at the same time to the upside as possible bottoms show up.

P.S. hobble skirt is a syllable of chart, that is how I came up with the name
"A hobble skirt was a skirt with a narrow enough hem to significantly impede the wearer's stride, and was a short-lived fashion trend around the turn of the twentieth century."

P.P.S. Bottoms are also short-lived...
הסר מסקריפטים מועדפים הוסף לסקריפטים מועדפים
study("Hobble Skirt Bottom Impede Fashion (by ChartArt)", shorttitle = "CA_Hobble_Bottom")

// version 1.0
// idea and art creation by ChartArt on 1-19-2014
// A very noisy indicator to detect bottoms and new uptrends.
// The indicator is experimental and doesn't work most of the time, hence the ridiculous name.
// list of my work: 

switch1=input(true, title="Enable Hobble Skirt Bottom?")
switch2=input(true, title="Enable Fashion?")
switch3=input(true, title="Enable Impede?")

skirt = low[0]-low[1]
hobble_skirt = ((skirt[0]-skirt[1])+(skirt[0]-skirt[2]))/2
bottom=low[0]>low[1] ? green : red
impede=(low[0]>low[1] or low[1]>low[2]) and (high[0]>high[1] or high[1]>high[2]) and (hl2[0]>hl2[1] or hl2[1]>hl2[2]) and skirt>0 ? green : red
fashion_length = input(3, title="Fashion Length")

plot(switch1?hobble_skirt:na, color=bottom, linewidth=3)
plot(switch2?fashion:na, color=aqua, linewidth=2, linewidth=1)
bgcolor(switch3?impede:na, transp=80)


Here is a weekly Bitcoin chart with the Hobble Skirt Bottom Impede Fashion:

And a monthly chart with this indicator:

ChartArt ChartArt
And a 1 hour chart with the "impede" as background color.

ChartArt ChartArt
4 hour chart:

בית סורק מניות סורק מט"ח סורק מטבעות-קריפטו יומן כלכלי איך זה עובד‏ תכונות גרף מחירון הפנה חבר חוקי הבית מרכז תמיכה כלים לאתרים וברוקרים יישומונים פתרונות גרפיים ספריית גרפים קלי משקל בלוג וחדשות טוויטר‏
פרופיל הגדרות פרופיל חשבון וחיוב הפנה חבר לשוניות התמיכה שלי מרכז תמיכה רעיונות שפורסמו עוקבים עוקב הודעות פרטיות צ'אט התנתק