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// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © RedKTrader
//@version=5
indicator('[dev]RedK Momentum Bars', shorttitle='RedK MoBars v1.0')
// A trading system composed of 2 short Lazy Lines (preferably one open and one close - 2-3 bars apart) and a WMA long filter
// loosely inspired by Edler Impulse
//==============================================================================
f_LazyLine(_data, _length) =>
w1 = 0, w2 = 0, w3 = 0
L1 = 0.0, L2 = 0.0, L3 = 0.0
w = _length / 3
if _length > 2
w2 := math.round(w)
w1 := math.round((_length - w2) / 2)
w3 := int((_length - w2) / 2)
L1 := ta.wma(_data, w1)
L2 := ta.wma(L1, w2)
L3 := ta.wma(L2, w3)
else
L3 := _data
L3
//==============================================================================
// Inputs
Fast_Src = input.source(close, title='Source', inline = 'Fast')
Fast_Length = input.int(6, title = 'Length', minval = 1, inline = 'Fast')
Slow_Src = input.source(open, title='Source', inline = 'Slow')
Slow_Length = input.int(8, title='Length', minval = 1, inline = 'Slow')
Slow_Delay = input.int(3, title='Delay (1 = No Delay', minval = 1)
Filter_Length = input.int(24, title='Filter Length', minval = 1)
// Calculation
Fast = f_LazyLine(Fast_Src, Fast_Length)
Slow = f_LazyLine(Slow_Src, Slow_Length)
Filter = ta.wma(close, Filter_Length)
Fast_M = Fast - Filter
Slow_M = Slow - Filter
Rel_M = ta.wma(Slow_M, Slow_Delay)
o = Rel_M
c = Fast_M
h = math.max(o, c)
l = math.min(o, c)
rising = ta.change(c) > 0
// Colors & Plots
hline(0, title = 'Zero Line', color=color.blue)
c_barup = #11ff20ff
c_bardn = #ff1111ff
c_bardj = #ffffffff
c_barupb = #1b5e20ff
c_bardnb = #981919ff
c_bardjb = #9598a1ff
barcolor = c > o and rising ? c_barup : c < o and not rising ? c_bardn : c_bardj
borcolor = c > o and rising ? c_barupb : c < o and not rising ? c_bardnb : c_bardjb
plotcandle(o, h, l, c, 'MoBars', barcolor, barcolor, bordercolor = borcolor)