UCS_Transactional Valuation Index-Version 2
Version 1 -
Updates include
Better Optimization on the levels.
Plotting only the important Highs and Lows
The extremes can be an important pivot levels.
Over and Undervalue - Gray (Column - close) (Histogram - High/Low)
Extreme conditions - Red
Extreme Alerts and Overlay will be added later.
Updates include
Better Optimization on the levels.
Plotting only the important Highs and Lows
The extremes can be an important pivot levels.
Over and Undervalue - Gray (Column - close) (Histogram - High/Low)
Extreme conditions - Red
Extreme Alerts and Overlay will be added later.
Uday C Santhakumar
// Created by UCSgears, Inspired from the Value Bands published recently // Also Inspired from the Hubert Senters "Death of Fundamentals" Webinar // Video - https://www.youtube.com/watch?v=LYG2kO_tDtA study(title="UCS_Transaction Value Index", shorttitle="UCS_TVI", overlay=false) // INPUT lbl = input(5, minval=1, title="Look Back Period Length") sd = input(0.2, minval=0.1, title = "Zone Multiplier") // Transaction Value Index tvic = ((close-(sma(close,lbl)))/sma(tr,lbl))/sd tvih = ((high-(sma(close,lbl)))/sma(tr,lbl))/sd ptvih = tvih > 4.5 ? tvih:na tvil = ((low-(sma(close,lbl)))/sma(tr,lbl))/sd ptvil = tvil < -4.5 ? tvil:na // color1= ptvil < -4 and ptvil > -8 ? gray : ptvil < -8 ? red:na color2= ptvih > 4 and ptvih < 8 ? gray : ptvih > 8 ? red:na // Horizontal Lines for Zone Seperation h0=hline(0, "Zero Line", gray, solid, 1) h1=hline(+4, "Fair Value Top", green, solid, 1) h2=hline(-4, "Fair Value Bottom", green, solid, 1) h3=hline(+8, "Over Value", orange, solid, 1) h4=hline(-8, "Under Value", orange, solid, 1) h5=hline(+12,"Extremely Over Value", red, solid, 1) h6=hline(-12,"Extremely Under Value", red, solid, 1) fill(h1,h2, green, 90, "Fair Value Zone") fill(h1,h3, orange, 90, "Over Value Zone") fill(h3,h5, red, 90, "Extremely Over Value Zone") fill(h2,h4, orange, 90, "Under Value Zone") fill(h4,h6, red, 90, "Extremely Under Value Zone") // TVI for High, Low and Close color3 = (tvic > 4 and tvic < 8) or (tvic < -4 and tvic > -8) ? gray : (tvic > 8 or tvic < -8) ? red : aqua plot(ptvih, color=color2, title = "TVI - High", style=histogram, linewidth = 2) plot(ptvil, color=color1, title = "TVI - Low", style=histogram, linewidth = 2) plot(tvic, color=color3, title = "TVI - Close", style = columns, transp = 0)