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Details:

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Description:

Elder's Impulse Indicator with exploration

Formula:

_SECTION_BEGIN("Elder Impulse");
/**************************************************************************
Name		:	Elder Impulse Indicator
Coded by	:	Lal
Date		:	28.10.2005
Note		: 	Please refer to Elder's "Come Into my Trading Room"
			for full details 


Update	:	19.Jan.2006
		Added Option to allow bars to be Colored as per Impulse

		Added explorer section to display Impulse Status
		along with Weekly AND Monthly Trends.

		20. Jan.2006
		Added ability to flexibly locate Weekly and Monthly 
		Ribbons

		9.Feb.2006
		Added option for use of TEMA and JMA 
		Added option to allow standard MACD params 
******************************************************************************/

EnableTextOutput(False);

// User-defined parameter for EMA periods

EMA_Type		= Param("EMA-1, TEMA-2, JMA-3", 2, 1, 3, 1);
EMA_prds 		= Param("EMA_periods", 7, 1, 30, 1);
Std_MACD		= Param("Standard MACD? No-0, Yes-1", 1, 0, 1, 1);
Plot_fashion	= Param("Bar+Arrows-1, Impulse  Bars-2", 2, 1, 2, 1);


// Allow user to define Weekly and Monthly Ribbon Location and Height
WR_P1 = Param("Weekly Ribbon Location", -10.5, -1000, 1000, 0.1);
WR_P2 = Param("Weekly Ribbon Height", 366.5, -0.001, 500, 0.1);

MR_P1 = Param("Monthly Ribbon Location", 5.2, -1000, 1000, 0.1);
MR_P2 = Param("Monthly Ribbon Height", 199, -0.001, 500, 0.1);


// Compute EMA and MACD Histogram
if(EMA_Type == 1)
{
	DayEMA	= EMA(Close, EMA_prds);
}
if (EMA_Type == 2)
{
	DayEMA	= TEMA(Close, EMA_prds);
}

if(EMA_Type == 3)
{
	// Line below to be used with Jurik JMA
	// DayEMA = JurikJMA(C, EMA_Prds);
}

Histogram	= MACD() - Signal();

// Determine if we have an Impulse UP, DOWN or None
Impulse_Up		=	DayEMA > Ref(DayEMA, -1) AND Histogram > Ref(Histogram, -1);
Impulse_Down	=	DayEMA < Ref(DayEMA, -1) AND Histogram < Ref(Histogram, -1);   
Impulse_None		=	(NOT Impulse_UP) AND (NOT Impulse_Down);

// Compute Weekly MACD and determine whether rising or falling
// Note: uses "non-standard"  parameters!
TimeFrameSet(inWeekly);

if (Std_MACD == 0)
{
MACD_val		=	MACD(5, 8);
Signal_val		=	Signal(5, 8, 5);
}
else
{
MACD_val		=	MACD(12, 26);
Signal_val		=	Signal(12, 26, 9);
}

Hist_in_w		=	MACD_val - Signal_val;

wh_rising = Hist_in_w > Ref(Hist_in_w, -1);
wh_falling = Hist_in_w < Ref(Hist_in_w, -1);

TimeFrameRestore();

// Now get Monthly MACD Histogram....
TimeFrameSet(inMonthly);
MACD_val		=	MACD(5, 8);
Signal_val		=	Signal(5, 8, 5);
Hist_in_m		=	MACD_val - Signal_val;

mh_rising = Hist_in_m > Ref(Hist_in_m, -1);
mh_falling = Hist_in_m < Ref(Hist_in_m, -1);

TimeFrameRestore();

wh_rising 		= TimeFrameExpand( wh_rising, inWeekly, expandLast ); 
wh_falling 		= TimeFrameExpand( wh_falling, inWeekly, expandLast); 
mh_rising 	= TimeFrameExpand(mh_rising, inMonthly, expandLast);
mh_falling 	= TimeFrameExpand(mh_falling, inMonthly, expandLast);

kol 	= IIf( wh_rising, colorGreen,  IIf(wh_falling, colorRed,
colorLightGrey));
mkol 	= IIf( mh_rising, colorBlue,  IIf(mh_falling, colorYellow,
colorLightGrey));

// Plot them all!
if (Plot_fashion == 1)
{
	Plot(Close, "Close", colorTeal, styleBar);
	PlotShapes(shapeUpArrow * Impulse_Up, colorBlue, 0, Low, -12);
	PlotShapes(shapeDownArrow * Impulse_Down, colorRed, 0, High, -12);
	PlotShapes(shapeSmallCircle * Impulse_None, colorWhite, 0, High, 5);
}
else
{
	bar_kol	=	IIf(impulse_UP, colorBlue, IIf(impulse_Down, colorRed,
colorWhite));
	Plot(C, "Close", bar_kol, styleBar);
}

Plot(10, "ribbon", kol, styleOwnScale|styleArea|styleNoLabel, WR_P1, WR_P2);	//
Weekly trend
Plot(10, "ribbon", mkol, styleOwnScale|styleArea|styleNoLabel, MR_P1,
MR_P2);	// Monthly Trend

// Explorer Section
// Determine if Impulse status is bullish, neutral or bearish.  Display as Text
Column.
Impulse_State		=	WriteIf(Impulse_Up, "Bulllish", WriteIf(Impulse_Down,
"Bearish", "Neutral"));

// Set the background color for Impulse Status Column
Impulse_Col		=	IIf(Impulse_Up, colorGreen, IIf(Impulse_Down, colorRed,
colorLightGrey));

// Determine Weekly Trend. Display as Text Column
Weekly_Trend		=	WriteIf(wh_rising, "Rising", WriteIf(wh_falling, "Falling",
"Flat!"));
Weekly_Col		=	IIf(wh_rising, colorGreen, IIf(wh_falling, colorRed,
colorLightGrey));

// Determine Monthly Trend. Display as Text Column
Monthly_Trend	=	WriteIf(mh_rising, "Rising", WriteIf(mh_falling, "Falling",
"Flat!"));
Monthly_Col		=	IIf(mh_rising, colorGreen, IIf(mh_falling, colorRed,
colorLightGrey));

// Determine how many bars has the current state existed
bars_in_bull	=	Min(BarsSince(impulse_none), BarsSince(impulse_down));
bars_in_bear	=	Min(BarsSince(impulse_up), BarsSince(impulse_none));
bars_in_neut	=	Min(BarsSince(impulse_down), BarsSince(impulse_up));

// Set a single variable to show number of bars in current state depending upon

// actual Impulse Status - Bullish, Bearish or Neutral
bars_in_state	=	IIf(Impulse_Up, bars_in_bull, IIf(Impulse_down, bars_in_bear,
bars_in_neut));

// Columns for display in Explorer 
AddTextColumn(Impulse_State, "Impulse Status", 1, colorWhite, Impulse_Col);
AddColumn(bars_in_state, "Bars in this state", 1, colorWhite, Impulse_col);
AddTextColumn(Weekly_Trend, "Weekly Trend", 1, colorWhite, Weekly_Col);
AddTextColumn(Monthly_Trend, "Monthly Trend", 1, colorWhite, Monthly_Col);

Filter = 1;

_SECTION_END();

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