OPEN-SOURCE SCRIPT
Jason's Simple Moving Averages Wave
Understanding the Script:
Purpose: This script identifies potential trend direction and momentum using a moving average and wave amplitude calculation. It shows a green line when the price is trending upwards and a red line when trending downwards.
Strategy: This script doesn't provide a complete trading strategy. It's an indicator designed to be used alongside other tools.
Parameters: You can adjust the "Moving Average Length" input to change the sensitivity of the indicator. A shorter length will react quicker to price changes, while a longer length will be smoother but less responsive.
How to Use it:
Load the Script: In TradingView, navigate to the indicator creation section and paste the provided script code.
Adjust Parameters: Set the "Moving Average Length" based on your preferred timeframe and trading style.
Combine with Other Tools: Use the indicator along with other technical indicators or price action analysis to confirm potential entry and exit points for trades.
Here are some additional points to consider:
Crossovers: You could look for buy signals when the price crosses above the green line and sell signals when it crosses below the red line. However, these can be prone to false signals.
Divergence: Look for divergences between the price movement and the wave indicator. For example, a rising price with a falling wave could indicate overbought conditions and a potential reversal.
Confirmation: Don't rely solely on this indicator. Use it alongside other confirmations from price action, volume analysis, or other indicators to identify higher probability trades.
Important Note:
Purpose: This script identifies potential trend direction and momentum using a moving average and wave amplitude calculation. It shows a green line when the price is trending upwards and a red line when trending downwards.
Strategy: This script doesn't provide a complete trading strategy. It's an indicator designed to be used alongside other tools.
Parameters: You can adjust the "Moving Average Length" input to change the sensitivity of the indicator. A shorter length will react quicker to price changes, while a longer length will be smoother but less responsive.
How to Use it:
Load the Script: In TradingView, navigate to the indicator creation section and paste the provided script code.
Adjust Parameters: Set the "Moving Average Length" based on your preferred timeframe and trading style.
Combine with Other Tools: Use the indicator along with other technical indicators or price action analysis to confirm potential entry and exit points for trades.
Here are some additional points to consider:
Crossovers: You could look for buy signals when the price crosses above the green line and sell signals when it crosses below the red line. However, these can be prone to false signals.
Divergence: Look for divergences between the price movement and the wave indicator. For example, a rising price with a falling wave could indicate overbought conditions and a potential reversal.
Confirmation: Don't rely solely on this indicator. Use it alongside other confirmations from price action, volume analysis, or other indicators to identify higher probability trades.
Important Note:
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。