Request for coding of New Indicator

[summerset]

I would like to code a very simple indicator that I relay on to make Elluiot wave counts.
The indicator will be called :- Wave Segregation Index - WSI

a= (CCI[100](typicalPrice) * ADX[100]) / 1000

return a as "Wsi"

The indicator must plot in histogram form, with green bars > zeroline, and red bars < zero line.
The overbought & oversold lines for this indicator are +1.5 & -1.5 respectively

I would also like for the CCI period to be variable, meaning that I can change it manually to 14. As I relay on 2 plotted indicator graphs, one at 100 period, and the other at 14 period, plotted in 2 seprate windows to do my wave counts.

I can post a picture of what the indicator looks like when plotted, if required.

Many Thanks.
Sincere Regards
Summerset

[Apprentice]

WSI

Try this, implementation.
I hope to match your specifications.

I am not sure what is the significance of this piece of code.
CCI [100] (typicalPrice)
Should there be a CCI [100] * (typicalPrice) or CCI of typicalPrice

WSI.lua

WSI

(2.41 KiB) Downloaded 883 times

[Nikolay.Gekht]

2Apprentice
BTW, you can use source.typical as you use source.open, source.high and so on instead of calculating it by yourself. .median and .weighted is also available.

[summerset]

WSI.png

Try this, implementation.
I hope to match your specifications.

I am not sure what is the significance of this piece of code.
CCI [100] (typicalPrice)
Should there be a CCI [100] * (typicalPrice) or CCI of typicalPrice

WSI.lua

Thanks a lot Apprentice.
I have downloaded it, and it looks & works Good.
The above is meant to be CCI {100} X Typical price.

I can mail you some slides on the idea behind the oscillator, and its uses - if you like to look at it that is.

THANKS Again.

[Apprentice]

I suppose that it is this variant.
I applied the same development indicator.

Please, send us a short description of the WSI indicators.
How to use it.
In order for others could benefit from it.

I want to successfully trade using this indicator.

Sure. It's always good to see the strategies of other traders.

[summerset]

I have mailed you detailed slides on the Idea behind the Wave Segregation Index Oscillator, and it's trading applications.I actually tried to upload it on the fourm, but could'nt find an upload button.

If the moderator sees fit, you are free to upload it on the fourm for the benefit / use of others.- or the trade application sections - assuming all the slides will prove too lenghty

Thanks again for yr help in coding.

All the Best

[WWMMACAU]

Hi summerset,
Can you explain how to Elliot wave count and how do you use this Wave Segregation Index Oscillator？

Thanks

[Nikolay.Gekht]

how do you use this Wave Segregation Index Oscillator？

You could start from here, for example: http://cross-currency-products.blogspot ... chive.html

[summerset]

Hi summerset,
Can you explain how to Elliot wave count and how do you use this Wave Segregation Index Oscillator？

Thanks

Hi,
I have already mailed you slides explaining the indicator theory, how to use it & trade examples.
If you have not recieved them, please post an alert here or mail me on summarset@yahoo.com and I will re-mail you.

All the Best
Summerset

[summerset]

Hi,

I would like to code 2 custom signals based on the WSI indicator.
The coding should run as follows, but of course converted to "lua"

A- To code the oscillator:-

a= (CCI[100](typicalPrice) * ADX[100]) / 1000

return a as "Wsi"

The indicator must plot in histogram form, with green bars > zero line, and red bars < zero line.

The overbought & oversold lines for the WSI are +1.5 & -1.5 respectively.

B- To code the Signal Expert taking entries in Trending Conditions based on the Elliot 142 Rule. :-

///REM
This signal expert will be called WSI-142

Condition1 = WSI[100] > 1.1
Condition2 = WSI[100] < -1.1
Condition3 = WSI[14] (1) < -1.5 THEN WSI[14] (0) > -1.5
Condition4 = WSI[14] (1) > 1.5 THEN WSI[14] (0) < 1.5
IF Condition1 THEN Condition3 THEN
AddBuyEntry
ENDIF
IF Condition2 THEN Condition4 THEN
AddSellEntry
ENDIF
IF WSI[14] < -2 THEN AddBuyExit
ENDIF
IF WSI[14] > 2 THEN AddSellExit
ENDIF

C- To code the Signal Expert taking entries On Trend Breakout Conditions based on Swing Pivot Analysis, &trader sighting of a 5-3 formation.

///REM
This signal expert will be called WSI-Sp, and is only attached by the trader on a specific 30min chart after, visual sighting done by the trader to spot the cycle WSI falling < or rising above the breakout WSI of an H&S or double top / double bottom formation on the 4hr chart. The trader will have also undertaken a manual Elliot count on the 30min chart to assert the breakout a preceding 5-3 cycle between 2 cyclic bottoms in the direction of the coming entry.

TIMEFRAME(4HR)
Condition1 = WSI[100] = imput parameter by trader
Condition2 = WSI[100] > Condition1 AND WSI[14] > 1.5
Condition3 = WSI[100] < Condition1 AND WSI[14] < -1.5
TIMEFRAME(30 minutes)
Condition4 = WSI[14] (1) < -1.5 THEN WSI[14] (0) > -1.5
Condition5 = WSI[14] (1) > 1.5 THEN WSI[14] (0) < 1.5
TIMEFRAME(1HR)
Condition6 = WSI[100] (1) < -1.75 THEN WSI[100] (0) < -2
Condition7 = WSI[100] (1) > 1.75 THEN WSI[100] (0) > 2

IF Condition2 THEN Condition4 THEN AddBuyEntry
ENDIF
IF Condition3 THEN Condition5 THEN AddSellEntry
ENDIF
IF Condition6 THEN AddBuyExit ENDIF
IF Condition7 THEN AddSellExit ENDIF
===================================================================== END.

If the programmer requires more indepth understanding of what's behind the function of the signals', I can mail him detailed explanation slides which include trade examples.

THANKS & All the Best.
Sincere Regards
Summerset