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Golden Larsson Line Free

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Aug 9th, 2022
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  1. //@version=4
  2. study("CTO Line Free", overlay=true)
  3. //user input
  4. emaFastLen = input(defval = 30, title = "Length EMA Fast", type = input.integer)
  5. emaSlowLen = input(defval = 60, title = "Length EMA Slow", type = input.integer)
  6. emaMarginATRLen = input(defval = 60, title = "Margin EMA - ATR Length", type = input.integer)
  7. emaMarginATRMult = input(defval = 0.30, title = "Margin EMA - ATR Multiplier", step = 0.01, type = input.float)
  8.  
  9. //moving averages
  10. emaFast = ema(close,emaFastLen)
  11. emaSlow = ema(close,emaSlowLen)
  12. emaDiff = emaFast - emaSlow
  13.  
  14. //case differentiation
  15. emaBull = emaDiff > emaMarginATRMult*atr(emaMarginATRLen)
  16. emaBear = emaDiff < -emaMarginATRMult*atr(emaMarginATRLen)
  17.  
  18. clrBull = color.new(color(#b8ac61), 0)
  19. clrBullFill = color.new(color(#faf17a), 90)
  20. clrBear = color.new(color(#534fa1), 0)
  21. clrBearFill = color.new(color(#cbc1e0), 90)
  22. clrNeutral = color.new(color(#a39f97), 0)
  23. clrNeutralFill = color.new(color(#e0dcd5), 90)
  24.  
  25. //plotting
  26. emaFastPlot = plot(emaFast, linewidth = 2, color = iff(emaBull, clrBull, iff(emaBear, clrBear, clrNeutral)))
  27. emaSlowPlot = plot(emaSlow, linewidth = 2, color = iff(emaBull, clrBull, iff(emaBear, clrBear, clrNeutral)))
  28. fill(emaFastPlot, emaSlowPlot, color = iff(emaBull, clrBullFill, iff(emaBear, clrBearFill, clrNeutralFill)))
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