OPEN-SOURCE SCRIPT
Underworld Hunter + Base Zone
Underworld Hunter + Base Zone is designed to keep traders out of ranging markets by establishing a "dead zone" between the bands where price may be choppy or trends may be short lived. The original Underworld Hunter from @greenmask9 adapted Bollinger Bands by changing the basis from SMA to the EMA of the EMA of the EMA. This version now allows the user to select which moving average they would like to utilize for the calculation.
If price is outside of the upper bands, price may be bullish. If price is outside the lower bands, price may be bearish.
If price is within the green or red areas of the bands, a trend may be forming.
The system also plots when RSI has become over extended above the thresholds selected (70/20 is the default).
MA Period is the length/period the moving average is calculated with
MA Mode is the type of moving average that will be utilized in the basis calculation
The "Standard MA Calculation" Option changes the basis to calculate the moving average selected in MA Mode only once, instead of 3 times
Deviation 1 and Deviation 2 determine how far the dead zone bands will be from the basis
RSI Period is the length/period the RSI function is calculated with
RSI Extended - High Cutoff is the level RSI must reach to be marked as over extended. Most traders refer to this zone as "Overbought"
RSI Extended - Low Cutoff is the level RSI must reach to be marked as over extended. Most traders refer to this zone as "Oversold"
As many NNFx traders know, overbought and oversold essentially do not exist, though the zones can still be utilized
The remaining options are utilized for specific moving average calculations and are set to what is typically considered as "standard" for their values.
There are many options available for this code. The code has not been optimized but merely compiled. Settings should be adjusted for the instrument(s) you are trading.
Adapted from user @greenmask9
Multiple MA Options Credits to Fractured and lejmer
Bits and Pieces from alexgrover, montyjus, and jiehonglim
As always, trade at your own risk.
If price is outside of the upper bands, price may be bullish. If price is outside the lower bands, price may be bearish.
If price is within the green or red areas of the bands, a trend may be forming.
The system also plots when RSI has become over extended above the thresholds selected (70/20 is the default).
MA Period is the length/period the moving average is calculated with
MA Mode is the type of moving average that will be utilized in the basis calculation
The "Standard MA Calculation" Option changes the basis to calculate the moving average selected in MA Mode only once, instead of 3 times
Deviation 1 and Deviation 2 determine how far the dead zone bands will be from the basis
RSI Period is the length/period the RSI function is calculated with
RSI Extended - High Cutoff is the level RSI must reach to be marked as over extended. Most traders refer to this zone as "Overbought"
RSI Extended - Low Cutoff is the level RSI must reach to be marked as over extended. Most traders refer to this zone as "Oversold"
As many NNFx traders know, overbought and oversold essentially do not exist, though the zones can still be utilized
The remaining options are utilized for specific moving average calculations and are set to what is typically considered as "standard" for their values.
There are many options available for this code. The code has not been optimized but merely compiled. Settings should be adjusted for the instrument(s) you are trading.
Adapted from user @greenmask9
Multiple MA Options Credits to Fractured and lejmer
Bits and Pieces from alexgrover, montyjus, and jiehonglim
As always, trade at your own risk.
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。