# UCS_Top & Bottom Candle

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This is an experimental Indicator based on Momentum. Picks the Top & Bottom Candle for most Swing. Please post your opinion or suggestion to improve this indicator.

I have not back tested this completely. This is recently developed Indicator.

Feb 12

Feb 12

Feb 12

//Short Term Top and Bottom Candle Identifier
//Code by UCSgears

study("UCS_Top & Bottom Candle", shorttitle = "UCS_T&B", overlay=false)

a = input(5, "Percent K Length")
b = input(3, "Percent D Length")

// Range Calculation
ll = lowest (low, a)
hh = highest (high, a)
diff = hh - ll
rdiff = close - (hh+ll)/2

// Nested Moving Average for smoother curves
avgrel = ema(ema(rdiff,b),b)
avgdiff = ema(ema(diff,b),b)

// Momentum
mom = ((close - close[b])/close[b])*1000

// SMI calculations
SMI = avgdiff != 0 ? (avgrel/(avgdiff/2)*100) : 0
SMIsignal = ema(SMI,b)

//All PLOTS
plot(mom, title = "Momentum", style = columns, color = yellow)
plot(SMI, title = "Stochastic Momentum Index")
plot(SMIsignal, color= red, title = "SMI Signal Line")

H1 = hline(40, color = red, title = "Over Bought")
H2 = hline(-40, color = green, title = "Over Sold")
H0 = hline(0, color = blue, title = "Zero Line")
fill(H0,H2, color = green, title = "Oversold")
fill(H0,H1, color = red, title = "Overbought")
//END

// Strategy Signals
long = SMI < -35  and mom > 0 and mom[1] < 0 ? lime : na
barcolor(long)

// Short Setup
short = SMI > 35  and mom < 0 and mom[1] > 0 ? red : na
barcolor(short)
Great job

Hey can't find the indicator anymore? Only the "overlay" version which is nothing like the original.... :(

HellC
I think its fake to be honest I also have the same issue @HellC,

Sauljoffe
@Sauljoffe, The only way I can get it to work is by copy/pasting the code into my script box...

Thanks for this. Been using it for the last while. Its very accurate. Just mix in 5,8,13 MA's and its an animal

Hej man,

Just want to drop a big thank you for this awesome tool!
Stumbled upon it just a couple of days ago and it's the best thing that happened to me :)

Version 2 -

ucsgears
@ucsgears, Hi there,
Just wanted to know if it repaints if I change it to a strategy?
Thanks

Great indicator, any way you code the arrows into this indicator?

Unh00ked