Awesome work mrtools!
Would it be possible to replicate BigBeluga's FRAMA Channel exactly the way he/she has made it on TradingView?
I think this indicator has a lot of potential to be a top 10 trending indicator, given its ability to keep you in the trend for long periods of time while doing a good job of detecting ranging conditions.
Below is the code from the TradingView page if it helps:
Code: Select all
// This work is licensed under Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International
// https://creativecommons.org/licenses/by-nc-sa/4.0/
// © BigBeluga
//@version=5
indicator("FRAMA Channel [BigBeluga]", overlay=true, max_labels_count = 500)
// ＩＮＰＵＴＳ --------------------------------------------------------------------------------------------------------{
// User Inputs for FRAMA Channel
int N = input.int (26, title="Length", minval=2, step = 2, group = "Channel") // Length for FRAMA calculation
float distance = input.float (1.5, "Bands Distance", step = 0.01, minval = 0.3, group = "Channel") // Distance for channel bands
string price_vol = input.string("Price", "Signals Data", ["Price", "Average Volume"]) // Source data for signals
string labl_size = input.string("Small", "Lables Size", ["Small", "Normal", "Large"])
// Colors
group = "Colors"
color color1 = input.color(#27e27b, "Momentum Up", group = group, inline = "1") // Color for upward momentum
color color2 = input.color(color.rgb(39, 114, 226), "Down", group = group, inline = "1") // Color for downward momentum
color color3 = input.color(#a2b5ca, "Neutral", group = group) // Color for neutral state
var color color = color(na) // Variable to hold the current color
bool candles = input.bool (true, "Color Candles") // Toggle for coloring candles based on momentum
// Source for FRAMA calculation
series float price = hl2 // Use hl2 as the default source
// Variables for FRAMA calculation
var float Filt = na
var float Filt1 = na
var float Filt2 = na
var int count1 = na
var int count2 = na
// }
// UDTs----------------------------------------------------------------------------------------------------------------{
// Define a user-defined type (UDT) to store variables used in FRAMA calculation
type vars
float N1
float N2
float N3
float HH
float LL
float Dimen
float alpha
// Initialize UDT instance
v = vars.new(0., 0., 0., 0., 0., 0., 0.)
// }
// ＣＡＬＣＵＬＡＴＩＯＮＳ----------------------------------------------------------------------------------------------{
// Perform calculations for the FRAMA Channel
series float volatility = ta.sma(high - low, 200) // Calculate volatility using the average true range
series float p_vol = switch price_vol // Select the data source for signals (Price or Average Volume)
"Price" => close
"Average Volume" => math.round(math.sum(volume, 10) / 10, 2)
// Calculate N3 for the fractal dimension
v.N3 := (ta.highest(high, N) - ta.lowest(low, N)) / N
// Loop to calculate N1
v.HH := high
v.LL := low
for count = 0 to N / 2 - 1
if high[count] > v.HH
v.HH := high[count]
if low[count] < v.LL
v.LL := low[count]
v.N1 := (v.HH - v.LL) / (N / 2)
// Loop to calculate N2
v.HH := high[N / 2]
v.LL := low[N / 2]
for count = N / 2 to N - 1
if high[count] > v.HH
v.HH := high[count]
if low[count] < v.LL
v.LL := low[count]
v.N2 := (v.HH - v.LL) / (N / 2)
// Calculate the fractal dimension
if (v.N1 > 0 and v.N2 > 0 and v.N3 > 0)
v.Dimen := (math.log(v.N1 + v.N2) - math.log(v.N3)) / math.log(2)
// Calculate alpha for FRAMA
v.alpha := math.exp(-4.6 * (v.Dimen - 1))
v.alpha := math.max(math.min(v.alpha, 1), 0.01) // Clamp alpha between 0.01 and 1
// Calculate the FRAMA filtered value
Filt := na(Filt)
? price
: v.alpha * price + (1 - v.alpha) * Filt[1]
Filt := ta.sma((bar_index < N + 1) ? price : Filt, 5) // Apply SMA for smoothing
// Calculate the channel bands
Filt1 := Filt + volatility * distance
Filt2 := Filt - volatility * distance
// }
// ＰＬＯＴ-------------------------------------------------------------------------------------------------------------{
// Define conditions for plotting and coloring
break_up = ta.crossover(hlc3, Filt1) and barstate.isconfirmed
break_dn = ta.crossunder(hlc3, Filt2) and barstate.isconfirmed
if ta.cross(close, Filt)
color := color3 // Neutral color
// Determine the color based on breakout conditions
switch
break_up => color := color1 // Upward breakout
break_dn => color := color2 // Downward breakout
// Set candle color if enabled
color color_c = candles ? color : na
// Plot the FRAMA and bands
p0 = plot(Filt, color = color.new(color,color == color3 ? 100 : 50), editable = false)
p1 = plot(Filt1, color = color.new(color,20), linewidth = 1, editable = false)
p2 = plot(Filt2, color = color.new(color,20), linewidth = 1, editable = false)
// Fill the area between the bands and FRAMA
fill(p1, p0, Filt1, Filt, color.new(color, candles ? 95 : 85), na, editable = false)
fill(p0, p2, Filt, Filt2, na, color.new(color, candles ? 95 : 85), editable = false)
size = switch labl_size
"Small" => size.small
"Normal" => size.normal
"Large" => size.large
// Add labels on breakout events
if break_up
count2 := 0
count1 += 1
if count1 == 1
label.new(
x = bar_index,
y = Filt2,
text = "🢁\n" + str.tostring(p_vol),
style = label.style_label_up,
textcolor = color1,
color = color(na),
size = size
)
if break_dn
count1 := 0
count2 += 1
if count2 == 1
label.new(
x = bar_index,
y = Filt1,
text = str.tostring(p_vol) + "\n🢃",
style = label.style_label_down,
textcolor = color2,
color = color(na),
size = size
)
// Plot candles with the calculated colors
plotcandle(
open, high, low, close,
"Candles",
color_c,
color_c,
bordercolor = color_c,
editable = false
)
// }
