Created
January 12, 2015 20:45
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WaveTrend Oscillator
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| // | |
| // @author LazyBear | |
| // | |
| // If you use this code in its original/modified form, do drop me a note. | |
| // | |
| study(title="WaveTrend [LazyBear]", shorttitle="WT_LB") | |
| n1 = input(10, "Channel Length") | |
| n2 = input(21, "Average Length") | |
| obLevel1 = input(60, "Over Bought Level 1") | |
| obLevel2 = input(53, "Over Bought Level 2") | |
| osLevel1 = input(-60, "Over Sold Level 1") | |
| osLevel2 = input(-53, "Over Sold Level 2") | |
| ap = hlc3 | |
| esa = ema(ap, n1) | |
| d = ema(abs(ap - esa), n1) | |
| ci = (ap - esa) / (0.015 * d) | |
| tci = ema(ci, n2) | |
| wt1 = tci | |
| wt2 = sma(wt1,4) | |
| plot(0, color=gray) | |
| plot(obLevel1, color=red) | |
| plot(osLevel1, color=green) | |
| plot(obLevel2, color=red, style=3) | |
| plot(osLevel2, color=green, style=3) | |
| plot(wt1, color=green) | |
| plot(wt2, color=red, style=3) | |
| plot(wt1-wt2, color=blue, style=area, transp=80) | |
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