sideway-zone.txt

//@version=5
indicator('Sideway Zones Live', overlay=true, max_bars_back=1100)

import jdehorty/KernelFunctions/2 as kernels

// ~~~~~~~~~~~ CALCULATIONS ~~~~~~~~~~~ //
//Kernal Zones
zoneLengths = input.int(3, "Zone Inside Length", group="Momentum", tooltip="The Zone Inside is the Inner zone of the High and Low. This is the length used to create it.")
zoneOutsideLengths = input.int(3, "Zone Outside Length", group="Momentum", tooltip="The Zone Outside is the Outer zone of the High and Low. This is the length used to create it.")
// Kernel Settings
lookbackWindow = input.int(3, "Lookback Window", tooltip="The number of bars used for the estimation. This is a sliding value that represents the most recent historical bars. Recommended range: 3-50", group="Kernel Settings")
relativeWeighting = input.float(8., "Relative Weighting", step=0.25, tooltip="Relative weighting of time frames. As this value approaches zero, the longer time frames will exert more influence on the estimation. As this value approaches infinity, the behavior of the Rational Quadratic Kernel will become identical to the Gaussian kernel. Recommended range: 0.25-25", group="Kernel Settings")
startBar = input.int(25, "Start Regression at Bar", tooltip="Bar index on which to start regression. The first bars of a chart are often highly volatile, and omission of these initial bars often leads to a better overall fit. Recommended range: 5-25", group="Kernel Settings")

highestHigh = kernels.rationalQuadratic(ta.highest(high, zoneLengths), lookbackWindow, relativeWeighting, startBar)
lowestLow = kernels.rationalQuadratic(ta.lowest(low, zoneLengths), lookbackWindow, relativeWeighting, startBar)
highestHighOutside = kernels.rationalQuadratic(ta.highest(high, zoneOutsideLengths), lookbackWindow, relativeWeighting, startBar)
lowestLowOutside = kernels.rationalQuadratic(ta.lowest(low, zoneOutsideLengths), lookbackWindow, relativeWeighting, startBar)

prd = input.int(defval=9, title='Loopback Period', minval=2, maxval=50)
conslen = input.int(defval=3, title='Min Consolidation Length', minval=2, maxval=20)

float hb_ = ta.highestbars(prd) == 0 ? high : na
float lb_ = ta.lowestbars(prd) == 0 ? low : na
var int dir = 0
float zz = na
float pp = na

iff_1 = lb_ and na(hb_) ? -1 : dir
dir := hb_ and na(lb_) ? 1 : iff_1
if hb_ and lb_
    if dir == 1
        zz := hb_
        zz
    else
        zz := lb_
        zz
else
    iff_1 = lb_ ? lb_ : na
    zz := hb_ ? hb_ : iff_1
    zz

for x = 0 to 1000 by 1
    if na(close) or dir != dir[x]
        break
    if zz[x]
        if na(pp)
            pp := zz[x]
            pp
        else
            if dir[x] == 1 and zz[x] > pp
                pp := zz[x]
                pp
            if dir[x] == -1 and zz[x] < pp
                pp := zz[x]
                pp

var int conscnt = 0
var float condhigh = na
var float condlow = na
float H_ = highestHighOutside
float L_ = lowestLowOutside
var line upline = na
var line dnline = na
bool breakoutup = false
bool breakoutdown = false

if ta.change(pp)
    if conscnt > conslen
        if pp > condhigh
            breakoutup := true
            breakoutup
        if pp < condlow
            breakoutdown := true
            breakoutdown
    if conscnt > 0 and pp <= condhigh and pp >= condlow
        conscnt += 1
        conscnt
    else
        conscnt := 0
        conscnt
else
    conscnt += 1
    conscnt

if conscnt >= conslen
    if conscnt == conslen
        condhigh := H_
        condlow := L_
        condlow
    else
        
        condhigh := math.max(condhigh, high)
        condlow := math.min(condlow, low)
        condlow

    upline := line.new(bar_index, condhigh, bar_index - conscnt, condhigh, color=color.white, style=line.style_solid)
    dnline := line.new(bar_index, condlow, bar_index - conscnt, condlow, color=color.white, style=line.style_solid)
    line.delete(upline[1])
    line.delete(dnline[1])

    dnline

alertcondition(breakoutup, title='Breakout Up', message='Breakout Up')
alertcondition(breakoutdown, title='Breakout Down', message='Breakout Down')