PineScript v1 alert

Question

I've tried to add alertcondition if area color is green/lime = buy and if red/maroon = sell, but since indicator is in v1 I can't find any doc nor know how to program very well in v1.

Could someone help me translate to v5 or put the alertconditions? thanks

study(shorttitle = "SQZMOM_LB", title="Squeeze Momentum Indicator", overlay=false)

length = input(20, title="BB Length")
mult = input(2.0,title="BB MultFactor")
lengthKC=input(20, title="KC Length")
multKC = input(1.5, title="KC MultFactor")

useTrueRange = input(true, title="Use TrueRange (KC)", type=bool)

// Calculate BB
source = close
basis = sma(source, length)
dev = multKC * stdev(source, length)
upperBB = basis + dev
lowerBB = basis - dev

// Calculate KC
ma = sma(source, lengthKC)
range = useTrueRange ? tr : (high - low)
rangema = sma(range, lengthKC)
upperKC = ma + rangema * multKC
lowerKC = ma - rangema * multKC

sqzOn  = (lowerBB > lowerKC) and (upperBB < upperKC)
sqzOff = (lowerBB < lowerKC) and (upperBB > upperKC)
noSqz  = (sqzOn == false) and (sqzOff == false)

val = linreg(source  -  avg(avg(highest(high, lengthKC), lowest(low, lengthKC)),sma(close,lengthKC)), 
            lengthKC,0)

bcolor = iff( val > 0, 
            iff( val > nz(val[1]), lime, maroon),
            iff( val < nz(val[1]), red, green))
scolor = noSqz ? blue : sqzOn ? black : gray 
plot(val, color=bcolor, style=area, linewidth=4)
plot(0, color=scolor, style=cross, linewidth=2)

Answer 1

Note: some colors are different because of inherent differences between default colors in different Pine versions.

//@version=5
indicator(shorttitle = "SQZMOM_LB", title="Squeeze Momentum Indicator", overlay=false)

length = input.int(20, title="BB Length")
mult = input.float(2.0,title="BB MultFactor")
lengthKC=input.int(20, title="KC Length")
multKC = input.float(1.5, title="KC MultFactor")

useTrueRange = input.bool(true, title="Use TrueRange (KC)")

// Calculate BB
source = close
basis = ta.sma(source, length)
dev = multKC * ta.stdev(source, length)
upperBB = basis + dev
lowerBB = basis - dev

// Calculate KC
ma = ta.sma(source, lengthKC)
_range = useTrueRange ? ta.tr : (high - low)
rangema = ta.sma(_range, lengthKC)
upperKC = ma + rangema * multKC
lowerKC = ma - rangema * multKC

sqzOn  = (lowerBB > lowerKC) and (upperBB < upperKC)
sqzOff = (lowerBB < lowerKC) and (upperBB > upperKC)
noSqz  = (sqzOn == false) and (sqzOff == false)

val = ta.linreg(source - math.avg(math.avg(ta.highest(high, lengthKC), ta.lowest(low, lengthKC)), ta.sma(close,lengthKC)), lengthKC,0)

bcolor = val > 0 ?
             val > nz(val[1]) ? color.lime : color.maroon :
             val < nz(val[1]) ? color.red : color.green
scolor = noSqz ? color.blue : sqzOn ? color.black : color.gray
plot(val, color=bcolor, style=plot.style_area, linewidth=4)
plot(0, color=scolor, style=plot.style_cross, linewidth=2)