Indicator: Kaufman AMA Binary Wave

It’s pretty simple: 1 = buy, -1 = sell, 0 = neutral. You can experiment with the filter percentage and period to suit your taste. IMO, this is a good confirmation indicator.

I have also added an option to highlight the potential buy/sell areas.

[Update: April 2014]

Updated script to work around the recent TV engine changes: pastebin.com/aUkLWDaw