Daily Factor Indicator [CC]

// Copyright (c) 2019-present, Franklin Moormann (cheatcountry)
// Daily Factor Indicator [CC] script may be freely distributed under the MIT license.
// ------------------------------------------------------------------------------------------------
// Original author:  cheatcountry
// Original title:   Daily Factor Indicator [CC]
// Licence:          MIT (the header above is the original notice, kept verbatim)
// Pine version:     5
// Fetched:          2026-10-12
// Ported to FloScript by FloSignals; modifications under MPL-2.0.
// Converter:        @flosignals/floscript 0.1.0, strict mode, score 100/100
// ------------------------------------------------------------------------------------------------
//@floscript=1
//@version=5
indicator("Daily Factor Indicator [CC]", overlay=false)

requestSecurity(string _symbol, string _res, bool _repaints) =>
    repIndex = _repaints ? 0 : barstate.isrealtime ? 1 : 0
    resIndex = _repaints ? 0 : barstate.isrealtime ? 0 : 1
    [h, l, o, c] = [high[repIndex], low[repIndex], open[repIndex], close[repIndex]]
    [h[resIndex], l[resIndex], o[resIndex], c[resIndex]]

var GRP1 = "General Settings"
string res = input.timeframe(title="Resolution", defval="", group=GRP1)
float dfLevel = input.float(title="Daily Factor Threshold Level", defval=0.35, minval=0, maxval=1, group=GRP1)
bool rep = input.bool(title="Allow Repainting?", defval=false, group=GRP1)
bool bar = input.bool(title="Allow Bar Color Change?", defval=true, group=GRP1)
[h, l, o, c] = requestSecurity(syminfo.tickerid, res, rep)

float df = nz(h[1]) - nz(l[1]) != 0 ? math.abs(nz(o[1]) - nz(c[1])) / (nz(h[1]) - nz(l[1])) : 0
float ema = ta.ema(c, 14)

hline(dfLevel)
int sig = df > dfLevel and c > ema ? 2 : df > dfLevel and c < ema ? -2 : c > ema ? 1 : c < ema ? -1 : 0
alertcondition(ta.crossover(sig, 1), 'Strong Buy Signal', 'Strong Bullish Change Detected')
alertcondition(ta.crossunder(sig, -1), 'Strong Sell Signal', 'Strong Bearish Change Detected')
alertcondition(ta.crossover(sig, 0), 'Buy Signal', 'Bullish Change Detected')
alertcondition(ta.crossunder(sig, 0), 'Sell Signal', 'Bearish Change Detected')
alertcondition(ta.crossover(sig, 1) or ta.crossover(sig, 0), "All Buy Signals", "Any Bullish Change Detected")
alertcondition(ta.crossunder(sig, -1) or ta.crossunder(sig, 0), "All Sell Signals", "Any Bearish Change Detected")
color dfColor = sig > 1 ? color.green : sig > 0 ? color.lime : sig < -1 ? color.maroon : sig < 0 ? color.red : na
barcolor(bar ? dfColor : na)
plot(df, "Daily Factor", dfColor, linewidth=2)

This file is under the MIT License; it is a port of the original by cheatcountry, with the original licence header kept and the changes made for FloScript noted in the file.

• v22026-10-14

  Library refresh 2026-10-14

• v12026-10-12

  Library refresh 2026-10-12