POC bands 2.0 and other assorted goodies
I updated my old indicator that plotted a Kalman filter avg. of the bars inside a higher timeframe bar, to attempt to find the most frequent price in that bar's timespan.
It ended up being somewhat close, but not exact, but the result is that you get a pseudo-vwap without a need for volume data, that isn't cumulative and can indicate trend direction, or if the market's ranging.
This is very powerful information!
I highlight a trade setup we get here, derived from observing the indicator's slope and knowing how to read price action, assisted by rgmov and cci readings.
To get the code for the other indicator's you will have to click on share, and then on 'Make it mine' so you get the whole layout.
Good luck and hope you find these of use.
Cheers,
Ivan.
It ended up being somewhat close, but not exact, but the result is that you get a pseudo-vwap without a need for volume data, that isn't cumulative and can indicate trend direction, or if the market's ranging.
This is very powerful information!
I highlight a trade setup we get here, derived from observing the indicator's slope and knowing how to read price action, assisted by rgmov and cci readings.
To get the code for the other indicator's you will have to click on share, and then on 'Make it mine' so you get the whole layout.
Good luck and hope you find these of use.
Cheers,
Ivan.
Trading signals & copy trading 💹| Crypto Navigator Bot co-creator🤖 TradingView chartist | Called each cycle top and bottom in #BTC since 2015 in real time.
study(title = "POC bands 2.0", shorttitle="POCB", overlay=true) resCustom = input(title="Timeframe", type=resolution, defval="240") Length = input(6, minval=1) xPrice = security(tickerid, resCustom, hlc3) xvnoise = abs(xPrice - xPrice[1]) nfastend = 0.666 nslowend = 0.0645 nsignal = abs(xPrice - xPrice[Length]) nnoise = sum(xvnoise, Length) nefratio = iff(nnoise != 0, nsignal / nnoise, 0) nsmooth = pow(nefratio * (nfastend - nslowend) + nslowend, 2) nAMA = nz(nAMA[1]) + nsmooth * (xPrice - nz(nAMA[1])) basis = nAMA atr = ema(tr,11) upper = basis[3] + (atr*3) lower = basis[3] - (atr*3) plot(basis, color=blue) plot(upper, color=blue) plot(lower, color=blue)
A few uses...