OPEN-SOURCE SCRIPT
RS Stage Analysis
Updated
This script trying to detect different lifecycle of stock / Stages.
There is mainly 4 stages of stocks.
1) stage 1 - Accumulation = color = aqua
2) stage 2 - Advancing = color = green
3) stage 3 - Distribution = color = yellow
4) stage 4 - Declining = color = red
At some point the condition i wrote wont detect any stage.
There is mainly 4 stages of stocks.
1) stage 1 - Accumulation = color = aqua
2) stage 2 - Advancing = color = green
3) stage 3 - Distribution = color = yellow
4) stage 4 - Declining = color = red
At some point the condition i wrote wont detect any stage.
Release Notes
Implemented Auto Draw Support & Resistance line using below logicThis is upgraded logic
This is how you can marking the chart.
Stage 1
➡️First day of stage 1 high.
only confirm if after stage 1 there is again stage 4 or no stage for at least 2 days.
OR
Stage 1 stays for 5 time frame (including no stage)
Stage 3
➡️First day of stage 3 low.
only confirm if stage 3 stay more than 1 days. and before it stage 2.
Release Notes
ImprovementsRelease Notes
Added no of look back periods to use for auto draw support & resistance. this will help full to load script much faster and also not generating too much lines on the chart.
Release Notes
Removed complex condition to generate the stage 1 resistance line.1) Added rs84 and rs72 to decide stage 1
2) Now using last 7 days high as resistance to avoid fluctuation for both stage 1 and stage 3 resistance.
3) changed from low to high for stage 3 resistance.
4) now only using one simple code to generate the stage 1 resistance line.
-> minimum 1 day in stage 1 and stage 0 in last 5 days or stage 1 in 2 days in last 5 days
Release Notes
Added one more condition for stage 3 resistanceRelease Notes
Added Days gap between 2 same stage lines input, to avoid multiple lines draw very close to each other.
Release Notes
improvements in stage 1 line draw codeRelease Notes
bug fix in lookback codeRelease Notes
Added one more condition to generate stage 1 dataRelease Notes
Added Stage 2 Resistance LineRelease Notes
Added Stage 1 Proper Resistance Lines optionif someone who are not sure about the Stage 1 resistance line now they can disable that option and only enable the Stage 1 Proper Resistance Lines option.
Release Notes
improvements in stage 1 proper resistance line code.Release Notes
Improvements in proper stage 1 resistance line.Release Notes
-> Changed stage 2 color opacity when rs above ema147 and ema168 to easily identified proper stage 2 uptrend.-> Hide stage 1 resistance line default to generate less lines.
-> Added stage 2 proper resistance line when rs above ema147 and ema168
now one should only enter a trade if green background color opacity is less.
Release Notes
-> Hide default stage 1 proper resistance line.-> Changed condition to generate proper stage 2 resistance line.
Release Notes
Changed resistance lines high from 7 days high to 15 days high.Release Notes
Changed default comparison symbol from NIFTY50 TO CNX500Release Notes
Bug fix in stage 2 proper resistance line code.Release Notes
Upgraded stage 3 resistance line code.Release Notes
Changed ema length from 126 to 189now checking close / open above all three ema, vwma, vwma-high
some code clean.
Release Notes
Changed 189 ema/vwma to sma 200, 150, 100Release Notes
Updated condition for stage 2Release Notes
Updated stage 2 conditionRelease Notes
changed default settings.Release Notes
bug fix in stage 1Release Notes
bug fix in stage 1Release Notes
Added chart timeframe using timeframe.period instead daily timeframe for comparison index / stock.Release Notes
Updated stage 2.1 and stage 2 detection conditionOpen-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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