MarketSmith Indicator

This script provides you with several indicators that will enable you to mimic MarketSmith charts, even with a free TradingView plan.

You can use this script with my 'EPS & Sales' indicator.

MarketSmith-style bars
The script offers an original approach to managing candlesticks within the code, making them almost identical to those on MarketSmith.
For a perfect display, select 'Bars' on your chart and set the opacity of your candles to 100% to display only the candles proposed by this indicator.
If you don't want them, you can simply disable them in the 'Style' tab by unchecking 'MarketSmith Bars' and 'Chars'.
These candles are designed to be used with a fix chart. (No beautiful result with zooming in or out.)
Normally, the display will still be correct by right-clicking, and 'Reset Chart'.

Simple customizable moving averages
With automatic distinction of the weekly time unit. You can choose to display them or not, select the calculation method and modify their length via the panel.

The RS Rating indicator
I've integrated the RS Rating indicator into this script, as the RS Rating is a fundamental component of this layout.

High and valley points
These points are used by MarketSmith to detect bases, patterns, cup & handle.

Designed for US Market only you won't be able to screen correctly the India market for example.

Versionsinformation:

- Now 'Hide RS Line' is working
- Corrected a bug where when the current close was equal to that of the previous candle, the script colored pink, while TradingView colored blue. (Thank you @Yaron_)

Versionsinformation:

- You can now customize the color of the bars
- You can now display % variation of Peak/Valley points

Versionsinformation:

- Added the Weekly Tight Closes Detector available on 'Mark Minervini' script

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- Now SMA/EMA colors are customizable

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- Added Optional Beta Chart Recognition Pattern

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- Corrected Graph Display

Versionsinformation:

- Corrected graph again

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- Corrected a minor bug that deleted hisotorical valid flat bases

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- Added Double Bottom Detection
- Pattern are only detected in Daily TimeFrame

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- Forgot to link the ability not to display patterns, corrected!

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- Added recent modification on the RS Rating

Versionsinformation:

- Modified label size to tiny

Versionsinformation:

- Adjust some parameters in the base formation to be closer to MarketSmith
- Corrected some bugs with the double bottom detection

Versionsinformation:

- Little correction for the initial depth of the creation of a base -> 35% to 40%

Versionsinformation:

- Changed default Depth and Length values to better match MarketSmith Chart Pattern Recognition system

Versionsinformation:

- Corrected Input Description for Double Bottom Depth and Length

Versionsinformation:

- Corrected some parameters for base detection
- Changed Dotted Lines to Dashed lines
- More discreet line rendering

Versionsinformation:

- Chart updated

Versionsinformation:

- Chart Updated (Try to find a correct display)

Versionsinformation:

- Back to the previous style display because bases were hard to see

Versionsinformation:

- Added Beta Cup Detection (not Cup n Handle yet)
- Corrected bug of SPX display

Versionsinformation:

- Corrected incorrect depth setting

Versionsinformation:

- Adaptation of offset display for sectors and indices

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- Rs Rating label adjusted

Versionsinformation:

- Added Default Blue Dot New High

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- Now we can display the rating only, eg: for smartphone display

Versionsinformation:

- Adapted the RS Rating Update!
In this update, I propose to use an option to view the historical RS Rating. This method is an approximation, as the performance environment of US equities varies over time, whereas the historical RS Rating is calculated with fixed values. However, this option can be of interest when studying past setups, and can provide relevant indications.

Versionsinformation:

- We can add a second SMA/EMA on the RS Line.

Versionsinformation:

- Corrected the rounding of the Average Volume

Versionsinformation:

- Confused MarketSmith Volume and MarketSmith Indicator. It's late at night

Versionsinformation:

- Added EPS & Sales Table due to recent TradingView free plan limitation

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- Corrected the Comparative Symbol for Line input that wasn't correctly wired to the calculation.

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- Removed unused input

Versionsinformation:

For the EPS & Sales table
- Corrected shifting color to transparent of the daily table

Versionsinformation:

- Added the Maj for the EPS & Sales indicator

Versionsinformation:

- Corrected wrong digit on the 'versus' display on sales after @B_Kaminski pointed it out