TF Entry and Exit (Murrey Based)

// Created & Developed by Ucsgears, based on Murrey Math Line Principle - Modified by CCB 20.03.2015
// Version 2 - March, 12 - 2015

study(title="Murrey Based Trifecta Entry and Exit", shorttitle="TRIFECTA_E_X", overlay=true, precision = 2)

// Inputs
length = input(100, minval = 10, title = "Look back Length")
mult = input(0.125, title = "Mutiplier; Only Supports 0.125 = 1/8")
bc = input(false, title = "Show 'Murrey' Bar Colors")


// Donchanin Channel
hi = highest(high, length)
lo = lowest(low, length)
range = hi - lo
multiplier = (range) * mult
midline = lo + multiplier * 4

oscillator = (close - midline)/(range/2)

a = oscillator > 0 and oscillator < mult*2
b = oscillator > 0 and oscillator < mult*4
c = oscillator > 0 and oscillator < mult*6
d = oscillator > 0 and oscillator < mult*8

z = oscillator < 0 and oscillator > -mult*2
y = oscillator < 0 and oscillator > -mult*4
x = oscillator < 0 and oscillator > -mult*6
w = oscillator < 0 and oscillator > -mult*8

colordef = a ? #ADFF2F : b ? #32CD32 : c ? #3CB371 : d ? #008000 : z ? #CD5C5C : y ? #FA8072 : x ? #FFA07A : w ? #FF0000 : blue

barChangedBear = ((oscillator[1] > 0 and oscillator[1] < mult*8) and (oscillator < 0 and oscillator > -mult*8)) ? true : false
barChangedBull = ((oscillator[1] < 0 and oscillator[1] > -mult*8) and (oscillator > 0 and oscillator < mult*8)) ? true : false

plotshape(barChangedBear ? oscillator : na, title="Turned Bear", style=shape.circle, color=red, location=location.abovebar)
plotshape(barChangedBull ? oscillator : na, title="Turned Bull", style=shape.circle, color=lime, location=location.belowbar)

// Bar Color Oversold and Overbought
barcolor(bc ? colordef : na)