J-Streak

(JS) Tip-and-Dip Oscillator 2.0

I am going to start taking requests to open source my indicators and this is the first one I decided to do. They will also be updated to Version 4 of Pinescript.

I went through and added notes on what each area of the code is, and in this particular case I added color schemes as a way to improve upon the original code.

Link to original:

Original Description:

"Let me start by saying I know that the name is goofy lol

This is an oscillator that that looks at price action vs. standard deviation in order to illustrate the trend. This thing looks like an Awesome Oscillator but the math behind this and the Awesome Oscillator are totally different (which is pretty interesting, given they look a lot alike). I included the Awesome Oscillator on the chart here so you can look at them and see where they are different.

So the Tip-and Dip Oscillator is meant to help you pinpoint tops and bottoms. I even added arrows where the top and bottom signals are given.

The oscillator itself has 3 colors, an up, down, and neutral color that come as green, red, and yellow. Since the readings given by the oscillator can greatly vary depending on the chart resolution, I included an option to edit the range to fit your chart.

Also - I have 4 different smoothing options that you can use depending on what your preference is. The default setting is the most sensitive so it will identify tops and bottoms more frequently, but it is the most accurate when pinpointing the correct reversal candle. As you smooth it out, the arrows will appear less, but my be slightly delayed and give a later reading. I personally prefer the default, but going up to the second setting in smoothing works nicely as well.

Enjoy!"
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After some testing I have noticed that the signals for this indicator are repainting?
Otherwise this indicator would be absolutely amazing. If you can somehow make this non-repainting it would be incredible! :D
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Great work! But can you please allow for custom colour schemes xD
Would really like to have some customization and being able to personally see it better :)
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Can you add alerts??
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J-Streak KlassBros
@KlassBros, absolutely, great idea! Give me a little bit and I'll have it done, after I am finished I'll reply again to let you know.
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thank you kind for your work sir, added your code to my toy and it works excellent
cheers :)
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J-Streak scamArtist
@scamArtist, Glad you like it thanks!
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Thank you! really appreciate this!
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J-Streak montyjus
@montyjus, no problem!
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