WaveTrend 4h/24m is a trading tool based on two WaveTrend timeframes.
For this script the WaveTrend calculations made by LazyBear were used. WaveTrend is a widely used indicator for finding direction of an asset.
The strategy is developed by Youtuber Jayson Casper. The main strategy on the 4 hour and 24 minute timeframes, this will be the default timeframes. Timeframes can be adjusted in the indicator interface. With Jaysons' we wait for both timeframes to have last printed a green dot for longs, and both timeframes to have last printed a red dot for shorts. When this occurs a green diamond will be printed for longs, a red diamond for shorts. Make sure to always use the chart from the smallest timeframe you're using, so by defaults use the 24 minute chart.
Features of the indicator: - WaveTrend Timeframe 1 (Blue/Lightblue wave). - WaveTrend Timeframe 2 (Blue/Purple line with filled background between the lines). - VWAP (Yellow wave which is turned off by default) - Green/Red Diamonds
What to look for? This script is all about the Green and Red Diamonds. A Green diamond will be printed when on both the 4 hour and 24 minute timeframe the last printed dot was a green dot. A Red diamond will be printed when on both the 4 hour and 24 minute timeframe the last printed dot was a red dot.
What are the Green and Red Diamonds based on? When both VWAP timeframes are ABOVE 0, a green diamond will be printed. This is equivalent to the last dot on both WaveTrend timeframes being a green dot. When both VWAP timeframes are BELOW 0, a red diamond will be printed. This is equivalent to the last dot on both WaveTrend timeframes being a red dot.
Happy Trading!
Notas de Lançamento
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Lookahead usage removed.
Notas de Lançamento
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In this update we added an option to use two VWAPs on multiple timeframes. These will be unchecked by default, so nothing changes in case you don't feel like using them.
THANKS FOR YOUR GREAT INDICATORS! One request though...on your cipher B...could you please add alerts for money flow zero line crossovers? That would really help :)) Please keep up the truly innovative code you're sharing with the community.
ScryptoMB
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@Joshua_NYC, Hi, Thanks! Money Flow Index is not included within this indicator. It's two times Momentum and there is an option to enable VWAP, which is calculated by subtracting wavetrend 1 by wavetrend 2, as you can see in the code at line 31.
anthonyshaw15
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thank you for making this.
luabrankatz
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thnx
hassantariqchaudhry
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Thanks,
alex_cryptoh
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Fantastic idea!!
jiminycrypto
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Thanks so much!!
UnknownUnicorn18767911
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Thanks!
DaddyHan
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hi sir, i saw some repainting. is it confirm by last 4 candle?