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Magical Indicator

The document is a TradingView script that implements a trading strategy using the UT Bot and Hull Moving Average (HullMA) indicators. It allows users to customize sensitivity and ATR period, and generates buy/sell signals based on price movements relative to a trailing stop. Additionally, it changes colors based on HullMA crossovers to indicate potential buy or sell opportunities.

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Diwankash Bedi
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We take content rights seriously. If you suspect this is your content, claim it here.
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154 views2 pages

Magical Indicator

The document is a TradingView script that implements a trading strategy using the UT Bot and Hull Moving Average (HullMA) indicators. It allows users to customize sensitivity and ATR period, and generates buy/sell signals based on price movements relative to a trailing stop. Additionally, it changes colors based on HullMA crossovers to indicate potential buy or sell opportunities.

Uploaded by

Diwankash Bedi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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//@version=4

study(title="UT Bot with HullMA Color Change", overlay = true)

// UT Bot
src = close

keyvalue = input(3, title = "Key Vaule. 'This changes the sensitivity'",


step = .5)
atrperiod = input(10, title="ATR Period")
xATR = atr(atrperiod)
nLoss = keyvalue * xATR

xATRTrailingStop = 0.0
xATRTrailingStop := iff(src > nz(xATRTrailingStop[1], 0) and src[1] >
nz(xATRTrailingStop[1], 0), max(nz(xATRTrailingStop[1]), src - nLoss),
iff(src < nz(xATRTrailingStop[1], 0) and src[1] <
nz(xATRTrailingStop[1], 0), min(nz(xATRTrailingStop[1]), src + nLoss),
iff(src > nz(xATRTrailingStop[1], 0), src - nLoss, src + nLoss)))

pos = 0
pos := iff(src[1] < nz(xATRTrailingStop[1], 0) and src >
nz(xATRTrailingStop[1], 0), 1,
iff(src[1] > nz(xATRTrailingStop[1], 0) and src <
nz(xATRTrailingStop[1], 0), -1, nz(pos[1], 0)))

xcolor = pos == -1 ? color.red: pos == 1 ? color.green : color.blue

plot(xATRTrailingStop, color = xcolor, title = "Trailing Stop")


buy = crossover(src,xATRTrailingStop)
sell = crossunder(src,xATRTrailingStop)
barcolor = src > xATRTrailingStop

plotshape(buy, title = "Buy", text = 'Buy', style = shape.labelup, location


= location.belowbar, color= color.green,textcolor = color.white, transp =
0, size = size.tiny)
plotshape(sell, title = "Sell", text = 'Sell', style = shape.labeldown,
color= color.red,textcolor = color.white, transp = 0, size = size.tiny)

barcolor(barcolor? color.green:color.red)

alertcondition(buy, title='UT BOT Buy', message='UT BOT Buy')


alertcondition(sell, title='UT BOT Sell', message='UT BOT Sell')

// HullMA
n = input(title="HullMA Period", type=input.integer, defval=16)

n2ma = 2 * wma(close, round(n / 2))


nma = wma(close, n)
diff = n2ma - nma
sqn = round(sqrt(n))
diff1 = na(diff[1]) ? diff : 2 * wma(close[1], round(n / 2)) -
wma(close[1], n)
sqn1 = round(sqrt(n))

n1 = wma(diff, sqn)
n2 = wma(diff1, sqn1)

color_change_up = crossover(n1, n2) // Detects when n1 crosses above n2


(color changes to green)
color_change_down = crossunder(n1, n2) // Detects when n1 crosses below n2
(color changes to red)

c = n1 > n2 ? color.green : color.red


plot(n1, color=c)

// UT Bot based on HullMA color change


if color_change_up
alert("HullMA color changed to green - UT BOT Buy Signal",
alert.freq_once_per_bar_close)
if color_change_down
alert("HullMA color changed to red - UT BOT Sell Signal",
alert.freq_once_per_bar_close)

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