Original Author : LazyBear
Crosses above or below threshold are emphasized with bigger labels
- crosses above threshold : probable short indications with a bigger label and relativly small label for probable long indications
- crosses below threshold : probable long indications with a bigger label and relativly small label for probable short indications
All rest crosses within threshold boundaries with relatively small labels for both long and short probable indications
added ability to change the signal length
added ability to compare with other symbols, can be symbols that are directly correlated or inversely correlated symbols
Here is the modified code for the ones who enjoy the WaveTrend Oscillator on separate pane
//@version=4 //@author LazyBear, modified by dgtrd study(title="WaveTrend [LazyBear]", shorttitle="WT_LB vX ʙʏ DGT ☼☾") n1 = input(10, "Length : Channel ", inline = "LEN") n2 = input(21, "Average", inline = "LEN") s1 = input(4 , "Signal Length") obLevel1 = input( 60, "Over Bought Level 1", inline = "OB") obLevel2 = input( 53, "Level 2" , inline = "OB") osLevel1 = input(-60, "Over Sold Level 1" , inline = "OS") osLevel2 = input(-53, "Level 2" , inline = "OS") f_getWT(s) => ap = s esa = ema(ap, n1) d = ema(abs(ap - esa), n1) ci = (ap - esa) / (0.015 * d) tci = ema(ci, n2) wt1 = tci wt2 = sma(wt1, s1) [wt1, wt2] plot(0 , color=color.gray ) plot(obLevel1, color=color.red ) plot(osLevel1, color=color.green) plot(obLevel2, color=color.red , style=3) plot(osLevel2, color=color.green, style=3) [wt1, wt2] = f_getWT(hlc3) plot(wt1 , color=color.green) plot(wt2 , color=color.red , style=3) plot(wt1-wt2, color=color.blue , style=plot.style_area, transp=80) compare = input(false, "Compare with Symbol", inline = "CPR") symbol = input("CBOE:VIX" , "", type=input.symbol, inline = "CPR") extSrc = security (symbol , timeframe.period, hlc3, barmerge.gaps_off, barmerge.lookahead_on) [wt1x, wt2x] = f_getWT(extSrc) plot(compare ? wt1x : na, color=color.aqua) plot(compare ? wt2x : na, color=color.yellow, style=3) plot(compare ? wt1x-wt2x : na, color=color.olive, style=plot.style_area, transp=80)
Nello spirito di condivisione promosso da TradingView, l'autore (al quale vanno i nostri ringraziamenti) ha deciso di pubblicare questo script in modalità open-source, così che chiunque possa comprenderlo e testarlo. Puoi utilizzarlo gratuitamente, ma il riutilizzo del codice è subordinato al rispetto del Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.
For the Strong labels: size=size.normal
And the standard labels: size=size.small
I use the LazyBear Wavetrend and find it very useful, so thanks again for your take. I'm just wondering if I can include your strong indicator flags/labels in the original Wavetrend....hmmm
usually i avoid making the labels big so they do not make the chart too messy expecially when other indicators are included as well
unfortunetly, due to pine limitation you can not add labels to the original one. pine is not supporting lables, lines etc to be ploted on top of the price (main) chart if the study is performed to be displied on different pane. the only possibility available with this version of pine is to be able to change the bar colors. so you may modify the original version but insted labels you may use barcolor to change the colors of the bars. for stong and week ones you may decide to use different colors. hope this helps
No i haven't tested with Heikin Ashi candles and calculation wise the study uses standard candles
If You plot it into an oscillator and mark oversold/bought areas your exit point could be when the oscillator moves onto neutral territory.
I found out lower timeframes gives way better signals. HTF signals could have swings in them > 10-30% moves
btw, just not to get you wrong, what you meant by DCA exactly
In algo, I was assuming the EWO-S, they provides almost same signals simultaneously
Dollar-Cost average which is extremely hard to backtest on tradingview and has to be calculated on each instrument.
Also, my bad - I had lazy bears study as well and changed that one a bit.
Please disregard all the other crosses - had to save some alerts so the same one can be used to long/short exit at the same time.
for example -