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CTO Line indicator for TradingView
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| //@version=4 | |
| study(title="CTO Line", shorttitle="CTO", overlay=true, resolution="1440") | |
| smma(src, length) => | |
| smma = 0.0 | |
| smma := na(smma[1]) ? sma(src, length) : (smma[1] * (length - 1) + src) / length | |
| smma | |
| v1 = smma(hl2, 15) | |
| m1 = smma(hl2, 19) | |
| m2 = smma(hl2, 25) | |
| v2 = smma(hl2, 29) | |
| p2 = v1<m1 != v1<v2 or m2<v2 != v1<v2 | |
| p3 = not p2 and v1<v2 | |
| p1 = not p2 and not p3 | |
| c = p1 ? color.yellow : p2 ? color.silver : color.blue | |
| line1 = plot(v1, "Line 1", color=c) | |
| line2 = plot(v2, "Line 2", color=c) | |
| fill(line1, line2, color=c) | |
| //add buy signal when color.silver turns to yellow | |
| cond1 = p2[1] and p1 | |
| cond2 = p2 and p1 | |
| g = cond1 ? color.yellow : cond2 ? color.yellow : na | |
| //plot(close, "Close", color=g, style=plot.style_circles, linewidth=2, transp=80) | |
| plotshape(cond1 or cond2, title="", style=shape.circle, size=size.small, location=location.abovebar, color=g, text="BUY") | |
| //add sell signal when color.silver turns to blue | |
| cond3 = p2[1] and p3 | |
| cond4 = p2 and p3 | |
| r = cond3 ? color.blue : cond4 ? color.blue : na | |
| //plot(close, "Close", color=r, style=plot.style_circles, linewidth=2, transp=80) | |
| plotshape(cond3 or cond4, title="", style=shape.circle, size=size.small, location=location.belowbar, color=r, text="SELL") | |
| //add bullish alert when color.silver turns to yellow | |
| alertcondition(cond1 or cond2, title='Golden Line Buy Alert', message='Golden Line Buy Alert') | |
| //add bearish alert when color.silver turns to blue | |
| alertcondition(cond3 or cond4, title='Golden Line Sell Alert', message='Golden Line Sell Alert') |
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added a buy, sell and alert signal on the chart.