OPEN-SOURCE SCRIPT
已更新 Pragmatic risk management
INTRO
The indicator is calculating multiple moving averages on the value of price change %. It then combines the normalized (via arctan function) values into a single normalized value (via simple average).
The total error from the center of gravity and the angle in which the error is accumulating represented by 4 waves:
BLUE = Good for chance for price to go up
GREEN = Good chance for price to continue going up
ORANGE = Good chance for price to go down
RED = Good chance for price to continue going down
A full cycle of ORANGE\RED\BLUE\GREEN colors will ideally lead to the exact same cycle, if not, try to understand why.
NOTICE-
This indicator is calculating large time-windows so It can be heavy on your device. Tested on PC browser only.
My visual setup:
1. Add two indicators on-top of each other and merge their scales (It will help out later).
2. Zoom out price chart to see the maximum possible data.
3. Set different colors for both indicators for simple visual seperation.
4. Choose 2 different values, one as high as possible and one as low as possible.
(Possible - the indicator remains effective at distinguishing the cycle).
Manual calibration:
0. Select a fixed chart resolution (2H resolution minimum recommended).
1. Change the "mul2" parameter in ranges between 4-15 .
2. Observe the "Turning points" of price movement. (Typically when RED\GREEN are about to switch.)
2. Perform a segmentation of time slices and find cycles. No need to be exact!
3. Draw a square on price movement at place and color as the dominant wave currently inside the indicator.
This procedure should lead to a full price segmentation with easier anchoring.
The indicator is calculating multiple moving averages on the value of price change %. It then combines the normalized (via arctan function) values into a single normalized value (via simple average).
The total error from the center of gravity and the angle in which the error is accumulating represented by 4 waves:
BLUE = Good for chance for price to go up
GREEN = Good chance for price to continue going up
ORANGE = Good chance for price to go down
RED = Good chance for price to continue going down
A full cycle of ORANGE\RED\BLUE\GREEN colors will ideally lead to the exact same cycle, if not, try to understand why.
NOTICE-
This indicator is calculating large time-windows so It can be heavy on your device. Tested on PC browser only.
My visual setup:
1. Add two indicators on-top of each other and merge their scales (It will help out later).
2. Zoom out price chart to see the maximum possible data.
3. Set different colors for both indicators for simple visual seperation.
4. Choose 2 different values, one as high as possible and one as low as possible.
(Possible - the indicator remains effective at distinguishing the cycle).
Manual calibration:
0. Select a fixed chart resolution (2H resolution minimum recommended).
1. Change the "mul2" parameter in ranges between 4-15 .
2. Observe the "Turning points" of price movement. (Typically when RED\GREEN are about to switch.)
2. Perform a segmentation of time slices and find cycles. No need to be exact!
3. Draw a square on price movement at place and color as the dominant wave currently inside the indicator.
This procedure should lead to a full price segmentation with easier anchoring.
版本注释
Change bar color based on most dominant wave.版本注释
Update script to V5版本注释
Added a clone of the bottom 4 waves above the previous 4 waves to emphasize that it doesn't matter which color is the "top" and which color is the "bottom". You can start your analysis from any color and move up\down开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。