Direction Analysis Waves

21 feb 2023

Description

It is an indicator that aims to provide information about the direction of the trend, the basis of which is the CCI, CMO and MFI indices.
Symbols on the indicator are for informational purposes. Information about colors and symbols is given below.

• Blue Wave: Graphical representation of the Commodity Channel Index (CCI) curve.
  
• Green/Red Wave: Graphical representation of the Chande Momentum Oscillator (CMO) curve. This curve turns green when it rises above zero, and turns red when it falls below zero.
  
• Yellow Wave: Graphical representation of the Money Flow Index (MFI) curve.
  
• Blue Line: CCI line.
  
• Green/Red Cross: CCI line shows green cross on red cross below 0 value.
  

Warning

As a result, this indicator should be expected to give an idea of the trend direction, not a trading signal.


Version

v1.0

4 mar 2023

Note di rilascio

• [ADDED] Added horizontal lines above 200 and -200 values.
  

18 mar 2023

Note di rilascio

• Values showing the amount of change according to the previous position of the line on the Commodity Channel Index (CCI) line have been added.
  
• 30 < Blue
  
• 30 - 50 Yellow
  
• 50 - 70 Orange
  
• 70 > Red
  

14 apr 2023

Note di rilascio

• Objects on the display can be turned on or off from the settings menu and their colors can be changed.
  

21 apr 2023

Note di rilascio

• CCI length has been increased from 13 to 14 as it gives more accurate results.
  

13 mag 2023

Note di rilascio

• Title edited.
  

11 giu 2023

Note di rilascio

• Added numbers indicating possible strength of direction.
  

11 giu 2023

Note di rilascio

• The numbers showing the possible strength of the direction have been recalculated.
  

11 giu 2023

Note di rilascio

• Improved the intersection of CCI waves.
  
• Changes were made to the line color as CCI cut the overbought and oversold lines.
  

25 giu 2023

Note di rilascio

• Wave return levels have been improved.
  

31 ago 2023

Note di rilascio

Multiplier values have been removed.

17 set 2023

Note di rilascio

ohlc4 and hlc3 values have been updated to produce values according to standard candlestick charts, independent of candlestick charts.

12 lug 2024

Note di rilascio

• Removed invalid variables
  

12 lug 2024

Note di rilascio

• Changed Indicator Title
  

15 lug 2024

Note di rilascio

• The bug that caused incorrect counting backwards of numbers has been fixed.
  

15 lug 2024

Note di rilascio

• Fixed rutime error.
  

13 ago 2024

Note di rilascio

• Added Turn Signal Type options.
  

17 ago 2024

Note di rilascio

• The isCCILine option now also affects the visibility of symbols belonging to the CCI line.
  

5 set 2024

Note di rilascio

• A line called the Trend Index has been added, which moves between -200 and 200 and gives information about the depth of the trend, indicating overbought when it approaches 200, and oversold when it approaches -200.
  

6 set 2024

Note di rilascio

• Fixed MFI values.