PROTECTED SOURCE SCRIPT
Customisable Weis Wave & Awesome Oscillator
Weis Wave study price and volume relationship to generate waves chart(positive wave-uptrend, negative wave-downtrend) that aims to identify reversals and pullbacks. On top of that, bars are color-coded with Awesome Oscillator for confirmation. Green positive bars may indicate long opportunity and negative red bars may indicate short opportunities.
For some reason (one of it is due to my shitty coding skills), waves generated not always consistent with price movement. Hence, I keep changing price and volume parameters and I notice different combinations work best with different securities. For example, Hull Ma and OBV combination do quite well for stocks but so much for commodities. The following is a list of parameters that you can experiment with.
Volume parameters:
- Volume
- OBV
- Money Flow
- Chaikin Money Flow
-VWMA
Price parameters:
- Price
- Hull MA
- KAMA
- McGinley Dinamic
For some reason (one of it is due to my shitty coding skills), waves generated not always consistent with price movement. Hence, I keep changing price and volume parameters and I notice different combinations work best with different securities. For example, Hull Ma and OBV combination do quite well for stocks but so much for commodities. The following is a list of parameters that you can experiment with.
Volume parameters:
- Volume
- OBV
- Money Flow
- Chaikin Money Flow
-VWMA
Price parameters:
- Price
- Hull MA
- KAMA
- McGinley Dinamic
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