(JS) Tip-and-Dip Oscillator 2.0

I am going to start taking requests to open source my indicators and this is the first one I decided to do. They will also be updated to Version 4 of Pinescript.

I went through and added notes on what each area of the code is, and in this particular case I added color schemes as a way to improve upon the original code.

Link to original:
Original Description:

"Let me start by saying I know that the name is goofy lol

This is an oscillator that that looks at price action vs. standard deviation in order to illustrate the trend. This thing looks like an Awesome Oscillator but the math behind this and the Awesome Oscillator are totally different (which is pretty interesting, given they look a lot alike). I included the Awesome Oscillator on the chart here so you can look at them and see where they are different.

So the Tip-and Dip Oscillator is meant to help you pinpoint tops and bottoms. I even added arrows where the top and bottom signals are given.

The oscillator itself has 3 colors, an up, down, and neutral color that come as green, red, and yellow. Since the readings given by the oscillator can greatly vary depending on the chart resolution, I included an option to edit the range to fit your chart.

Also - I have 4 different smoothing options that you can use depending on what your preference is. The default setting is the most sensitive so it will identify tops and bottoms more frequently, but it is the most accurate when pinpointing the correct reversal candle. As you smooth it out, the arrows will appear less, but my be slightly delayed and give a later reading. I personally prefer the default, but going up to the second setting in smoothing works nicely as well.

發布通知: Per request: added alerts and now allowing custom colorization.

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。