chrysopoetics

Godmode 4.0.2 [Supply/Demand]

First off, a huge thank you to the following people:

LEGION:
LazyBear: https://www.tradingview.com/u/LazyBear/
xSilas: https://www.tradingview.com/u/xSilas/
Ni6HTH4awK: https://www.tradingview.com/u/Ni6HTH4wK/...
sco77m4r7and:
SNOW_CITY: https://www.tradingview.com/u/SNOW_CITY/...
oh92: https://www.tradingview.com/u/oh92/
alexgrover: https://www.tradingview.com/u/alexgrover...
cI8DH: https://www.tradingview.com/u/cI8DH/
DonovanWall: https://www.tradingview.com/u/DonovanWal...
shtcoinr: https://www.tradingview.com/u/shtcoinr/

This is the third iteration of Godmode. This time I borrowed the method used by shtcoinr to render supply/demand, resistance and support zones. The idea here is to input the appropriate benchmark tickerid to the asset class you're trading and to paint zones according to the price activity of the selected tickerid. This works very well trying to paint meaningful zones against noisy stocks, currencies, commodities etc. Use a correlation coefficient to determine the best benchmark for your asset class.

Want to Learn?

If you'd like the opportunity to learn Pine but you have difficulty finding resources to guide you, take a look at this rudimentary list: https://docs.google.com/document/d/10t3Z...

The list will be updated in the future as more people share the resources that have helped, or continue to help, them. Follow me on Twitter to keep up-to-date with the growing list of resources.

Suggestions or Questions?

Don't even kinda hesitate to forward them to me. My (metaphorical) door is always open.
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Hi, how can this work for equity. thanks
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Just awesome code. many thanks now I just need to train myself to actually follow it.

Do you have any other favorite indicators you use?
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Hey, very nice script. Would you check the box "smoothing" or not? What's the advantage of it? Best regards
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@fi1tek, hey man, thank you very much for the feedback, always appreciate it. Check out shtcoinr too, as that’s where I originally got the idea from.

Would I use smoothing? Meh. Not as a primary. Maybe apply the indicator twice and select smoothing on the second indicator. If there’s a confluence of zones then they’re worth paying attention to.

There’s no explicit advantage to using smoothing. First thing that comes to my head is that it because it’s not as responsive, the zones that paint should last longer. Whether or not they’re relevant levels though is another thing altogether. The reason smoothing is even an option is because I added it to another indicator (an indicator that this is based on). So for fidelity’s sake I just kept it in this iteration. More of a pretentious artistic choice than a practical one.

So to finish, I wouldn’t recommend using smoothing in place of the normal plots as I’m not sure what explicit advantage this provides (beyond what I state above, which may not be an advantage). Let me know if you find smoothing more/less helpful than the default setting.
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fi1tek chrysopoetics
@chrysopoetics, thanks for the quick answer. I try both variants. Best regards and have a nice weekend
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Very cool dude
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@wroclai, thank you very much man, I appreciate any and all feedback
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