3D WAVE-PM (Lite) [acatwithwithcharts]

This is a "lite" version of my 3D WAVE-PM script. It is limited to using just SMA and regular STDEV, resulting in a faster-loading and more stable indicator for general use.


3D WAVE-PM is an (il)logical extreme adaptation of Mark Whistler's WAVE-PM script, originally published in his book Volatility Illuminated as a MetaTrader script. Instead of displaying WAVE-PM as several oscillator lines oscillating within a range, it plots 32 different period lengths at height equal to their length and reads out colors based on their value. The period lengths are spaced out such that it makes a relatively continuous heatmap when displayed on log scale. It has the same customization options as my regular WAVE-PM Meow Mix script.

Light and dark colors are utilized to visualize whether the oscillator trace on that period is increasing or decreasing, as determined by comparing to an average of the past few readings. Empirically I found a lookback length of 4 to offer a reasonable balance between reacting quickly and filtering noise.

(It may be necessary to move the scale around to see the indicator - it ranges from 14 to 600 and the scale on the chart seems to default to a range below it.)





I am posting these as invite-only and have a short list of collaborators in mind who will get access if they want it. It is not being made available to the general public as of this posting; I’m vaguely working towards eventually offering being able to offer some sort of paid indicator offering in the future.


Rather than shut the door entirely, I will say that if someone approaches me by PM with a really interesting idea on how they’d like to test this or my other indicators, I’m willing to consider giving access. I’m not giving this away just to anyone who asks and will, for my own time and sanity, probably just ignore requests by people who don't come to me already knowing what this indicator does and how they might want to use it.

I will also say that I am interested in ideas for other applications for heatmap indicators. If you think you have an interesting idea/proposal/collaboration to propose, feel free to PM me.

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Updated to change the attribution in the title from “acatwithcharts” to “SharkCharts.live”.

I'm excited to announce that we're putting the finishing touches on a subscription service for the volatility theory indicators, and assuming no hiccups will launch them within days. Subscriptions will be available in several packages through SharkCharts.live

Current pricing and subscription details will be kept up-to-date on SharkCharts.live

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Minor update to v4.

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I'm making a round of updates to my scripts after testing some of the new Pinescript features and looking for ways to address loading issues that have arisen from changes over the past 6 months or so as to what thresholds cause scripts to fail on the back end.