The "Watermark" indicator by PineWave is designed to display customizable text as a watermark on your TradingView charts. This can include the chart symbol, timeframe, current time, date, and day of the week. You can personalize the appearance and placement of the watermark to suit your preferences.
This script is an improved version of the original "Watermark" script by TradingView, enhanced with additional customization options and features. However, it is important to note that this indicator does not directly improve your trading performance; it is purely a visual enhancement tool for your charts.