Swing & Short Term

//version=6
indicator("Swing & Short Term", overlay=true)

// Input
len = input.int(14, "Williams %R Length")

// Multi-timeframe Williams %R
wprDay = request.security(syminfo.tickerid, "D", ta.wpr(len))
wprWeek = request.security(syminfo.tickerid, "W", ta.wpr(len))
wpr1H = request.security(syminfo.tickerid, "60", ta.wpr(len))

// Conditions
buyCond = (wprDay > -30 and wprWeek > -30 and wpr1H > -30)
sellCond = (wprDay < -40 and wprWeek < -40 and wpr1H < -40)

// Track last signal
var int lastSignal = 0 // 0 = none, 1 = buy, -1 = sell

buySignal = buyCond and lastSignal != 1
sellSignal = sellCond and lastSignal != -1

if buySignal
lastSignal := 1
if sellSignal
lastSignal := -1

// Plot signals
plotshape(buySignal, title="Buy", location=location.belowbar,
style=shape.triangleup, color=color.green, size=size.small, text="BUY")
plotshape(sellSignal, title="Sell", location=location.abovebar,
style=shape.triangledown, color=color.red, size=size.small, text="SELL")

// Alerts
alertcondition(buySignal, title="Buy Alert", message="BUY: D/W/1H W%R > -30")
alertcondition(sellSignal, title="Sell Alert", message="SELL: D/W/1H W%R < -40")

// Reference lines
hline(-30, "Overbought", color=color.red)
hline(-40, "Sell Threshold", color=color.gray)

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

jayeshmistry

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Open-source script

jayeshmistry