EdgeAnalysisGroup: Yume Wave 2.0

This is a upgraded version of the wave with modified parameters for a higher success rate. 3 New Lengths and 75 more lines of code added to the overall algorithm. Also included are 2 sublevel signals based on the Fib MA and pattern trading.

The Wave:
+ The Yume is the Fast length
+ The Akume is the Slow length
+ The Miaku is a median weighted length
+ The Upper Limit is an overbought asset indication
+ The Lower Limit is an oversold asset indication
+ The Wave is the spread between Yume and Miaku

Bullish Indications:
+ The Yume is above the Akume
+ The Yume is above the Miaku
+ The Yume is below the Lower Limit

Bearish Indications:
+ The Yume is below the Akume
+ The Yume is below the Miaku
+ The Yume is above the Upper Limit

Signal Strength Weights:
+ 50 = Yume Wave crossed a Limit Line
+ 100 = Yume Wave crossed a Limit Line + Close to a Fib Moving Average
+ 100 = Edge's Market Bottom/Top Algorithm is marked 'True'

Setting up Signals (Based on a 100 Signal Height):
+ Set the "Bull Signal" to be at 50 or 100
+ Set the "Bear Signal" to be at 50 or 100
+ 50 is Agressive, 100 is Conservative.
+ Bull/Bear are separate so you can play conservative bull with aggressive bear.

Release Notes

Added an additional +25 Bear/Bull Indicator based on twists within a specific limit ranges.

Release Notes

Loosened the sensitivity to the yume wave crossover signal to create more signal pops for aggressive plays.

Release Notes

Added another 50 lines of signal sensitivity. You can now input the signal strength (1-100) that you want signals to appear. You can also use this tool to set up alerts.

1= lots of signals
100 = rare signals

12 Total signals ranging from 10% to 33% sensitivity. Combinations of signals are added together (the highest signal pop I've seen in backtesting is at signal strength 200, but EXTREMELY rare).

Release Notes

Added a custom alert field to the Yume Wave. You may now select "Bear Signal" or "Bull Signal" in alerts. This alert will go off anytime a bear or bull signal pops based on your Signal Strength requirements set prior to making the alert.

Release Notes

Added another strength variable to improve accuracy based on fibonnaci key levels.

Release Notes

Added crossover alert function. In alerts, you can set "Bull" or "Bear" to match your existing 'Signal Strength' using the "Yume Alert" function.

Release Notes

Added 2 new lower timeframe signal variables and 1 new higher timeframe signal stackable variable.

Invite-only script

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Author's instructions

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TheKujiras

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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.

Invite-only script

TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.

Author's instructions

Warning: please read our guide for invite-only scripts before requesting access.

TheKujiras

Also on: