Dhokiya's 0.09% Indicator

  1. // Indicator for `Dhokiya's Research Analyst` by Rahul Dhangar (rahuldhangar@gmail.com)
  2. // © rahuld0890
  3. //@version=6
  4.  
  5. indicator("Dhokiya's 0.09% Indicator", overlay=true)
  6.  
  7. // Get 5-minute timeframe values
  8. var float dailyFirstOpen = na
  9. var float dailyFirstClose = na
  10.  
  11. // Check for new day in 5-minute timeframe
  12. isNewDay = ta.change(time("D")) != 0
  13.  
  14. // Capture first 5-minute open/close on new day
  15. if isNewDay
  16.     dailyFirstOpen := open
  17.     dailyFirstClose := close
  18. else
  19.     // Carry forward previous values
  20.     dailyFirstOpen := dailyFirstOpen[1]
  21.     dailyFirstClose := dailyFirstClose[1]
  22.  
  23. // Fetch values from 5-minute timeframe
  24. firstOpen = request.security(syminfo.tickerid, "5", dailyFirstOpen, lookahead=barmerge.lookahead_off)
  25. firstClose = request.security(syminfo.tickerid, "5", dailyFirstClose, lookahead=barmerge.lookahead_off)
  26.  
  27. // Calculate values
  28. M5Close = firstClose
  29. lowerOrb = M5Close - (M5Close * 0.0009)
  30. upperOrb = M5Close + (M5Close * 0.0009)
  31. diffHighLow = upperOrb - lowerOrb
  32. targetPoints = 2 * diffHighLow
  33. lowerTarget = lowerOrb - (2 * diffHighLow)
  34. upperTarget = upperOrb + (2 * diffHighLow)
  35.  
  36. // Plot lines
  37. plot(0, display = display.data_window, title="+-+-+-+-+-+-+-+-+-+-+-+-+-+")
  38. plot(M5Close, display = display.data_window, title="M5 Close")
  39. plot(diffHighLow, display = display.data_window, title="Difference in High & Low Lines:")
  40. plot(targetPoints, display = display.data_window, title="Target Points:")
  41. plot(0, display = display.data_window, title="+-+-+-+-+-+-+-+-+-+-+-+-+-+")
  42. plot(upperOrb, color=color.new(#4caf4f, 30), title="Buy Above (High Line)", linewidth=2)
  43. plot(upperTarget, color=color.new(color.green, 30), title="Buy Target", style=plot.style_cross, linewidth=1)
  44. plot(0, display = display.data_window, title="+-+-+-+-+-+-+-+-+-+-+-+-+-+")
  45. plot(lowerOrb, color=color.new(color.red, 30), title="Sell Below (Low Line)", linewidth=2)
  46. plot(lowerTarget, color=color.new(color.red, 30), title="Sell Target", style=plot.style_cross, linewidth=1)
  47. plot(0, display = display.data_window, title="+-+-+-+-+-+-+-+-+-+-+-+-+-+")