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 @OrcChieftain 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 @OrcChieftain
Multiple MA Options Credits to @Fractured and @lejmer
Bits and Pieces from @AlexGrover, @Montyjus, and @Jiehonglim
As always, trade at your own risk.


本著真正的TradingView精神,該腳本的作者將其開源發布,以便交易者可以理解和驗證它。為作者喝彩吧!您可以免費使用它,但在出版物中重複使用此代碼受網站規則的約束。 您可以收藏它以在圖表上使用。