OPEN-SOURCE SCRIPT

Wavetrend Moving Average (WTMA) [Loxx]

11 443
Wavetrend Moving Average (WTMA) [Loxx] is a Wavetrend indicator morphed into a moving average. Use this indicator as you would any other moving average.

What is the Wavetrend indicator?
Wavetrend's original name was TCI created by the The Trading Center. The TCI (Trading Channel Index) displays the ratio between the average daily price and the smoothed averaged value of the average daily price.

You can read about TCI here: https://tradingcenter.org/index.php/train/tci/

How do you morph Wavetrend into a moving average?
1. Calculate Wavetrend
2. Normalize Wavetrend from a range of -1 to 1 to a range of 0 to 1
3. Find high/low values of X bars back of Wavetrend,
4. Subtract high from low to find the simple range of Wavetrend
5. Calculate upper and lower boundaries
6. Calculate the HL2 of using these new boundaries

Included:
  • Bar coloring
  • Signals
  • Alerts
  • Loxx's Expanded Source Types

免責聲明

這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。