After reading Cam Hui's blog post about his "Trifecta" bottom spotting model I thought I'd try my hand at scripting it as an indicator. The results are pretty close to what he describes. Though the data TradingView feeds me doesn't seem to be identical to what he's using on StockCharts.com the results are close enough that I will call the effort a success worth publishing.
// Humble Student OB/OS Trifecta indicator. // http://humblestudentofthemarkets.blogspot.cz/2015/06/time-for-market-bounce.html study(title="Humble Student OB/OS Trifecta indicator", shorttitle="OB/OS Trifecta", overlay=false) sym1(s) => security(s, period, low) sym2(s) => security(s, period, high) TRIFECTA = (sym1("S5FI"))/(sym1("S5OF")) VIXVXV = (sym2("VIX"))/(sym2("VXV")) TRIN = (sym2("TRIN")) len = input(200, minval=1, title="Length") out = ema(TRIFECTA, len) // lltssrc = TRIFECTA lltslen=input(90, minval=1, title="Length") lltsout = ema(lltssrc, lltslen) data = lltssrc/lltsout buy = data > 1 sell = data < 1 lltscolor = buy ? olive : sell ? orange : blue // // START VIXVXV Colors vixtrigger = input(1, defval=1, title="VIX Term Structure Inversion Threshold") vixzone = VIXVXV >= (vixtrigger) vixcolor = vixzone ? maroon : gray // END VIXVXV Colors // START TRIN Colors trintrigger = input(2, defval=2, title="TRIN Threshold") trinzone = TRIN >= (trintrigger) trincolor = trinzone ? red : gray // END TRIN Colors // START TRIFECTA Colors tritrigger = input(0.6, defval=0.6, title="TRIFECTA Threshold") trizone = TRIFECTA < (tritrigger) tricolor = trizone ? red : gray // END TRIFECTA Colors plot((VIXVXV), style=circles, transp=50, color=vixcolor, linewidth=2, trackprice = false) plot((TRIN), style=cross, transp=50, color=trincolor, linewidth=1, trackprice = false) plot((TRIFECTA), color=tricolor, linewidth=1, trackprice = false) plot(out, title="EMA", transp=50, color=lltscolor)