jmc-indicators

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © planetroast

//@version=4
study("JMC Indicators")

// -----------------------------------------------------------------------------
// Indicator # 1 (aka 'JMC')
// -----------------------------------------------------------------------------
// Note that the value of this number can vary wildly depnding on which chart
// you apply it to. Some charts will have ranges of -5 to +5, some others will
// stretch into the millions. Some charts don't display this indicatior at all
// and just say "n/a" (presumably because the value is out of range?)
// -----------------------------------------------------------------------------

jmcGain = input(title="JMC Gain", type=input.integer, defval=1000000)
closeMinusLow = close - low
closeMinusHigh = close - high
jmc = (closeMinusLow + closeMinusHigh) / (volume / jmcGain)
plot(jmc, color=color.lime, title="JMC")


// -----------------------------------------------------------------------------
// CAKE
// -----------------------------------------------------------------------------
// This figure has an option available in the chart's settings allowing it to be
// 'inverted'. When this option is enabled the order in which the volume and vma
// are switched around.

cakeLength = input(title="CAKE Length", type=input.integer, defval=8)
invertCake = input(title="Invert Cake", type=input.bool, defval=false)

vma = sma(volume, cakeLength)

cake = if invertCake
    jmc * (vma / volume) // Inverted 
else
    jmc * (volume / vma) // Not inverted


plot(cake, title="CAKE")



// -----------------------------------------------------------------------------
// Indicator # 3 (aka 'SLC')
// -----------------------------------------------------------------------------

slcLength = input(title="SLC Length", type=input.integer, defval=72)
historicSlc = cake[slcLength]
slc = cake - historicSlc
plot(slc, color=color.teal, title="SLC")

// -----------------------------------------------------------------------------
// Objects
// -----------------------------------------------------------------------------
hline(0, color=color.white, linestyle=hline.style_solid)