OPEN-SOURCE SCRIPT
SWAVE
Updated
This uses combination of
1. EMA difference
2. stochastic
Green column = up move
Red column = down move
Silver column = neutral
1. EMA difference
2. stochastic
Green column = up move
Red column = down move
Silver column = neutral
Release Notes
Below changes1. EMA difference seen in reference to smooth stoch instead of stoch to give better smooth result
2. option to plot both smooth stochastic and ema difference
Results: will give smooth entry exit signals and serve as multi indicator plot
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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