dgtrd

WaveTrend [LazyBear] vX by DGT

DGT interpreted version of LazyBear's WaveTrend, visualizing on Price Chart

Original Author : LazyBear

Crosses above or below threshold are emphasized with bigger labels
- crosses above threshold : probable short indications with a bigger label and relativly small label for probable long indications
- crosses below threshold : probable long indications with a bigger label and relativly small label for probable short indications
All rest crosses within threshold boundaries with relatively small labels for both long and short probable indications

เอกสารเผยแพร่: small update : alert condition added
เอกสารเผยแพร่: update thanks to @sandyrindal suggestions, special thanks to him

added ability to change the signal length
added ability to compare with other symbols, can be symbols that are directly correlated or inversely correlated symbols




Here is the modified code for the ones who enjoy the WaveTrend Oscillator on separate pane

//@version=4
//@author LazyBear, modified by dgtrd

study(title="WaveTrend [LazyBear]", shorttitle="WT_LB vX ʙʏ DGT ☼☾")

n1 = input(10, "Length : Channel ", inline = "LEN")
n2 = input(21, "Average", inline = "LEN")
s1 = input(4 , "Signal Length")

obLevel1 = input( 60, "Over Bought Level 1", inline = "OB")
obLevel2 = input( 53, "Level 2"            , inline = "OB")
osLevel1 = input(-60, "Over Sold Level 1"  , inline = "OS")
osLevel2 = input(-53, "Level 2"            , inline = "OS")

f_getWT(s) => 
    ap = s 
    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, s1)
    
    [wt1, wt2]

plot(0       , color=color.gray )
plot(obLevel1, color=color.red  )
plot(osLevel1, color=color.green)
plot(obLevel2, color=color.red  , style=3)
plot(osLevel2, color=color.green, style=3)

[wt1, wt2] = f_getWT(hlc3)

plot(wt1    , color=color.green)
plot(wt2    , color=color.red  , style=3)
plot(wt1-wt2, color=color.blue , style=plot.style_area, transp=80)

compare  = input(false, "Compare with Symbol", inline = "CPR")
symbol   = input("CBOE:VIX"        , "", type=input.symbol, inline = "CPR")
extSrc   = security (symbol , timeframe.period, hlc3, barmerge.gaps_off, barmerge.lookahead_on)
[wt1x, wt2x] = f_getWT(extSrc)

plot(compare ? wt1x      : na, color=color.aqua)
plot(compare ? wt2x      : na, color=color.yellow, style=3)
plot(compare ? wt1x-wt2x : na, color=color.olive, style=plot.style_area, transp=80)
เอกสารเผยแพร่: added a label to display current values of the wavetrend and signal level
สคริปต์โอเพนซอร์ซ

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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