PROTECTED SOURCE SCRIPT
Updated SMA WAVE // SUNIL SETHI // V1.0
This TradingView indicator visualizes the relationship between two simple moving averages (SMAs) of your choice — default 10-period and 20-period — to help traders quickly identify short-term trend shifts and momentum through color-coded wave fills and line trends.
✅ Dual SMA Calculation
Calculates two SMAs: SMA 1 (default 10) and SMA 2 (default 20).
Option to use any custom timeframe for both SMAs via the SMA Timeframe input.
🎨 Dynamic Visual Feedback
SMA lines change color based on direction:
Rising = Green (or custom)
Falling = Red (or custom)
Optional toggle to use static colors instead.
Wave area between SMA1 and SMA2 is filled with color to show crossovers and divergence.
👁️🗨️ Visibility Controls
Toggle visibility for:
SMA 1 line
SMA 2 line
The wave fill between SMAs
⚙️ Customization Options
Adjust:
SMA lengths
Wave fill transparency
Colors when rising or falling
Manual override colors for SMA lines
📈 How It Works
When SMA 1 > SMA 2, the wave fill shows a rising trend (e.g., green).
When SMA 1 < SMA 2, the fill switches to a falling trend (e.g., red).
The lines themselves also reflect momentum (rising/falling) based on current vs previous value unless overridden.
🧠 Use Cases
Spot short-term trend reversals or momentum shifts
Confirm entries/exits based on SMA crossovers
Visualize trend strength through color intensity and divergence
✅ Dual SMA Calculation
Calculates two SMAs: SMA 1 (default 10) and SMA 2 (default 20).
Option to use any custom timeframe for both SMAs via the SMA Timeframe input.
🎨 Dynamic Visual Feedback
SMA lines change color based on direction:
Rising = Green (or custom)
Falling = Red (or custom)
Optional toggle to use static colors instead.
Wave area between SMA1 and SMA2 is filled with color to show crossovers and divergence.
👁️🗨️ Visibility Controls
Toggle visibility for:
SMA 1 line
SMA 2 line
The wave fill between SMAs
⚙️ Customization Options
Adjust:
SMA lengths
Wave fill transparency
Colors when rising or falling
Manual override colors for SMA lines
📈 How It Works
When SMA 1 > SMA 2, the wave fill shows a rising trend (e.g., green).
When SMA 1 < SMA 2, the fill switches to a falling trend (e.g., red).
The lines themselves also reflect momentum (rising/falling) based on current vs previous value unless overridden.
🧠 Use Cases
Spot short-term trend reversals or momentum shifts
Confirm entries/exits based on SMA crossovers
Visualize trend strength through color intensity and divergence
Release Notes
Updated version only.Release Notes
Given the ability to choose between SMA & EMAChanged default time period to 5 & 20 for smooth Wave formation.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.