TL Waves — Indicator by TL_ID

bandsandchannels movingaverage waves bands guppy

I created this indicator inspired by the miyuki waves indicator by eto_miyuki. In my indicator we have 17 types of moving averages which can be selected in the settings.

It is a trend indicator, the base of the wave is a moving average and 4 Average True Range (ATR) Bands derived from the baseline are formed.

There are also 3 moving averages in a guppy style, these 3 moving averages can also be configured.

The moving average options are:

SMA ---> Simple
WMA ---> Weighted
VWMA ---> Volume Weighted
EMA ---> Exponential
DEMA ---> Double EMA
ALMA ---> Arnaud Legoux
HMA ---> Hull MA
SMMA ---> Smoothed
LSMA ---> Least Squares
KAMA ---> Kaufman Adaptive
TEMA ---> Triple EMA
ZLEMA ---> Zero Lag
FRAMA ---> Fractal Adaptive
VIDYA ---> Variable Index Dynamic Average
JMA ---> Jurik Moving Average
T3 ---> Tillson
TRIMA ---> Triangular

All settings are available for changing inputs.

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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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