// This work is licensed under Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International  


//@version=5
indicator("Modjoy-FRAMA Channel [BigBeluga]", overlay=true, max_labels_count = 500)

// ＩＮＰＵＴＳ --------------------------------------------------------------------------------------------------------{
// User Inputs for FRAMA Channel
int    N          = input.int   (26, title="Length", minval=2, step = 2, group = "Channel") // Length for FRAMA calculation
float  distance   = input.float (1.5, "Bands Distance", step = 0.01, minval = 0.3, group = "Channel") // Distance for channel bands
string price_vol  = input.string("Price", "Signals Data", ["Price", "Average Volume"]) // Source data for signals
string labl_size  = input.string("Small", "Lables Size", ["Small", "Normal", "Large"])

// Colors
group = "Colors"
color color1     = input.color(#27e27b, "Momentum Up", group = group, inline = "1") // Color for upward momentum
color color2     = input.color(color.rgb(39, 114, 226), "Down", group = group, inline = "1") // Color for downward momentum
color color3     = input.color(#a2b5ca, "Neutral", group = group) // Color for neutral state
var color color  = color(na) // Variable to hold the current color

bool  candles    = input.bool  (true, "Color Candles") // Toggle for coloring candles based on momentum

// Source for FRAMA calculation
series float price = hl2 // Use hl2 as the default source

// Variables for FRAMA calculation
var float Filt   = na
var float Filt1  = na
var float Filt2  = na
var int   count1 = na
var int   count2 = na
// }

// UDTs----------------------------------------------------------------------------------------------------------------{
// Define a user-defined type (UDT) to store variables used in FRAMA calculation
type vars 
    float N1
    float N2
    float N3
    float HH
    float LL
    float Dimen 
    float alpha

// Initialize UDT instance
v = vars.new(0., 0., 0., 0., 0., 0., 0.)
// }


// ＣＡＬＣＵＬＡＴＩＯＮＳ----------------------------------------------------------------------------------------------{
// Perform calculations for the FRAMA Channel
series float volatility = ta.sma(high - low, 200) // Calculate volatility using the average true range
series float p_vol      = switch price_vol // Select the data source for signals (Price or Average Volume)
    "Price"             => close
    "Average Volume"    => math.round(math.sum(volume, 10) / 10, 2)

// Calculate N3 for the fractal dimension
v.N3 := (ta.highest(high, N) - ta.lowest(low, N)) / N

// Loop to calculate N1
v.HH := high
v.LL := low

for count = 0 to N / 2 - 1
    if high[count] > v.HH
        v.HH := high[count]
    if low[count] < v.LL
        v.LL := low[count]

v.N1 := (v.HH - v.LL) / (N / 2)

// Loop to calculate N2
v.HH := high[N / 2]
v.LL := low[N / 2]

for count = N / 2 to N - 1
    if high[count] > v.HH
        v.HH := high[count]
    if low[count] < v.LL
        v.LL := low[count]

v.N2 := (v.HH - v.LL) / (N / 2)

// Calculate the fractal dimension
if (v.N1 > 0 and v.N2 > 0 and v.N3 > 0)
    v.Dimen := (math.log(v.N1 + v.N2) - math.log(v.N3)) / math.log(2)

// Calculate alpha for FRAMA
v.alpha := math.exp(-4.6 * (v.Dimen - 1))
v.alpha := math.max(math.min(v.alpha, 1), 0.01) // Clamp alpha between 0.01 and 1

// Calculate the FRAMA filtered value
Filt  := na(Filt) 
          ? price 
          : v.alpha * price + (1 - v.alpha) * Filt[1]

Filt  := ta.sma((bar_index < N + 1) ? price : Filt, 5) // Apply SMA for smoothing

// Calculate the channel bands
Filt1 := Filt + volatility * distance
Filt2 := Filt - volatility * distance
// }


// ＰＬＯＴ-------------------------------------------------------------------------------------------------------------{
// Define conditions for plotting and coloring
break_up = ta.crossover(hlc3, Filt1) and barstate.isconfirmed
break_dn = ta.crossunder(hlc3, Filt2) and barstate.isconfirmed

if ta.cross(close, Filt)
    color := color3 // Neutral color 

// Determine the color based on breakout conditions
switch 
    break_up => color := color1 // Upward breakout
    break_dn => color := color2 // Downward breakout

// Set candle color if enabled
color color_c = candles ? color : na

// Plot the FRAMA and bands
p0 = plot(Filt,  color = color.new(color,color == color3 ? 100 : 50),  editable = false)
p1 = plot(Filt1, color = color.new(color,20), linewidth = 1, editable = false)
p2 = plot(Filt2, color = color.new(color,20), linewidth = 1, editable = false)

// Fill the area between the bands and FRAMA
fill(p1, p0, Filt1, Filt, color.new(color, candles ? 95 : 85), na, editable = false)
fill(p0, p2, Filt, Filt2, na, color.new(color, candles ? 95 : 85), editable = false)

size = switch labl_size
    "Small"  => size.small
    "Normal" => size.normal
    "Large"  => size.large

// Add labels on breakout events
if break_up
    count2 := 0
    count1 += 1 
    if count1 == 1
        label.new(
                  x         = bar_index,
                  y         = Filt2, 
                  text      = "🢁\n" + str.tostring(p_vol),
                  style     = label.style_label_up,
                  textcolor = color1, 
                  color     = color(na), 
                  size = size
                  )

if break_dn
    count1 := 0 
    count2 += 1
    if count2 == 1
        label.new(
                  x         = bar_index,
                  y         = Filt1, 
                  text      = str.tostring(p_vol) + "\n🢃",
                  style     = label.style_label_down,
                  textcolor = color2, 
                  color     = color(na), 
                  size      = size
                  )

// Plot candles with the calculated colors
plotcandle(
             open, high, low, close, 
             "Candles", 
             color_c,
             color_c, 
             bordercolor = color_c, 
             editable    = false
             )
// }

⚠️ High Risk Warning

Trading Forex and Futures involves a very high degree of risk and may not be suitable for all investors. The high degree of leverage can result in the complete loss of your funds. These indicators are educational tools and do not guarantee profits. Please trade responsibly with capital you can afford to lose.