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Scope of Work
Combining BRI and TMA Double Band Indicators into one indicator, along with other modifications to alerts and other functionality.
The idea of the indicator
The BRI Indicator was developed to identify Imbalances in the market made by the banks manipulating the market. The TMA Double band identifies areas of overbought and oversold areas including determining the current timeframe trend using the centerline of the indicator. I would like to combine these indicators into one indicator, modify the alerts, clean up the code to prevent high CPU usage, and possibly clean up any duplicate similar inputs in both indicators.
Alert functions
I would like to remove and re-code the alert functions of the indicator once combined. I would like to add the following alert functions if possible.
- Imbalance Alert- This alerts the trader that an imbalance has formed on the chart.
- The candle causing Imbalance Line must close below the TMA Centerline.
- The Imbalance Line color must be Blue.
- The TMA Centerline must be blue at the candle close
All 3 must be true or the alert is not sent. Below is a pic of when an Imbalance Alert should trigger.
The second alert is when the imbalance gets filled by the banks.
- Imbalance Fill Alert- This alerts the trader that an open imbalance has been filled by the banks (Banks always return to fill these imbalance to get them out of drawdown)
This alert will have certain requirements to trigger. Below is the requirement for a Buy Alert (Sell alerts will be the opposite):
- Must be a valid imbalance with candle closing below the TMA Centerline, Imbalance Line is Blue, and the TMA Centerline is Blue at the close of the candle.
- As soon as price retraces and hits the Imbalance Line price, an alert is sent immediately, Do Not wait for the candle to close to send the alert!
All must be true or the alert is not sent. Below is a pic of when an Imbalance Fill Alert should trigger.
As you can also see in the pic above, the red box illustrates an invalid Imbalance Fill because although the TMA Centerline is Blue and the candle closed below TMA Centerline, the Imbalance line itself is Red, invalidating the alert. Therefore no alert is sent to the trader.
There must be the option to turn the alerts off or on. There must also be options to send the alert by email, notifications, or by sound on the platform
Calculations
The indicator will be used for working with charts and for optimization. Therefore, the indicator should be fast and should not be CPU heavy. So any improvements to the indicator, whether modifying code or combing duplicate inputs that both indicators already utilize would be helpful.