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// © Zeiierman

//Copyright by Zeiierman.
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//@version=4
study("GreedZone indicator ", overlay=true, shorttitle="GreedZone (Expo)")

source = input(ohlc4, title="Source", group="Source")

Low_period = input(30, title="Low Period", group="GreedZone Settings")
Stdev_period = input(50, title="Stdev Period", group="GreedZone Settings")

WMA = input(false, title="Use WMA instead of SMA?", group="Average Type")

// Condition One
FZ1 = (lowest(source,Low_period) - source)/lowest(source,Low_period)
AVG1 = sma(FZ1,Stdev_period)

if WMA
    AVG1 := wma(FZ1,Stdev_period)
   
STDEV1 = stdev(FZ1,Stdev_period)
FZ1Limit = AVG1-STDEV1

// Condition Two
FZ2 = sma(source, Low_period)
AVG2 = sma(FZ2, Stdev_period)

if WMA
    FZ2 := wma(source, Low_period)
    AVG2 := wma(FZ2, Stdev_period)
   
   
STDEV2 = stdev(FZ2, Stdev_period)
FZ2Limit = AVG2+STDEV2

// GreedZone
Greedzone_Con = FZ1 < FZ1Limit and FZ2 > FZ2Limit
GreedZoneOpen = Greedzone_Con? low+tr:na
GreedZoneClose = Greedzone_Con? low+2*tr:na

plotcandle(GreedZoneOpen,GreedZoneOpen,GreedZoneClose,GreedZoneClose,
color=#90EE90, bordercolor=color.green,  title="GreedZone Candlesticks")

// Alerts
AlertCircle = input(true, title="Show Alert Circle?", group="Alerts")
Alert_Col =  Greedzone_Con != Greedzone_Con[1] and AlertCircle? #90EE90 : na
plotshape(Greedzone_Con, style=shape.circle, location=location.abovebar,
size=size.tiny, color=Alert_Col, title="Alert Circle")
alertcondition(Greedzone_Con != Greedzone_Con[1], title='GreedZone',
message='GreedZone')