OPEN-SOURCE SCRIPT
Updated Dot indicator (UC)
UCs dot indicator.
Overall Utility
This indicator is ideal for traders seeking a layered approach to technical analysis. It fuses a sophisticated multi-stock momentum signal with intuitive visual elements, enabling you to monitor market dynamics at a glance while maintaining the flexibility to adjust parameters for your trading strategy.
Overall Utility
This indicator is ideal for traders seeking a layered approach to technical analysis. It fuses a sophisticated multi-stock momentum signal with intuitive visual elements, enabling you to monitor market dynamics at a glance while maintaining the flexibility to adjust parameters for your trading strategy.
Release Notes
This indicator, TTM Wave A Multi-Stock (Weighted TTM Wave with EMA Clouds), combines multi-stock momentum analysis with dynamic visual cues to help traders identify trend direction and potential reversal points during Regular Trading Hours.Key Features
Multi-Stock TTM Wave Calculation:
The script analyzes six stocks—MSFT, AAPL, GOOGL, AMZN, NVDA, and META—by computing a weighted TTM Wave for each. It does this by calculating:
Fast and Slow EMAs: Using a configurable fast EMA (default 9) and slow EMA (default 200) to derive a basic wave signal.
Wave Smoothing and Momentum: The difference between the fast and slow EMAs is smoothed (using a simple moving average) and its rate of change is measured. An additional momentum component is then calculated via an EMA over this change.
Composite Signal: A weighted composite of the smoothed wave and the momentum (with adjustable weights) forms the final TTM Wave value for each stock.
Custom Thresholds for Signal Generation:
Each stock is assigned custom positive and negative thresholds. The indicator counts how many stocks exceed their respective positive thresholds (indicating bullish momentum) or fall below their negative thresholds (indicating bearish momentum). When at least four stocks signal in one direction, a bullish or bearish signal is plotted on the chart.
Regular Trading Hours (RTH) Focus:
Signals and data calculations are confined to user-defined Regular Trading Hours (default set to 0930-1600) to avoid potential noise from after-hours trading.
EMA Clouds for Visual Context:
In addition to the TTM Wave signals, the script overlays multiple EMA clouds:
Top Cloud: Formed by EMA(4) and EMA(5)
Middle Cloud: Formed by EMA(8) and EMA(21)
Bottom Cloud: Formed by EMA(34) and EMA(50)
These clouds dynamically change color based on the relative positioning of the EMA pairs, offering visual clues about short-term support/resistance and trend strength.
Additional Trend Indicator:
A 50-period EMA is plotted on the main chart, providing further context for overall market direction.
Summary
This indicator is designed for traders looking to integrate multi-stock momentum with visually intuitive trend confirmation. By combining a weighted TTM Wave analysis across major stocks with configurable thresholds and sophisticated EMA cloud visuals, it offers a robust tool for spotting potential entry and exit signals during regular market hours.
Release Notes
This indicator, TTM Wave A Multi-Stock (Weighted TTM Wave with EMA Clouds), combines multi-stock momentum analysis with dynamic visual cues to help traders identify trend direction and potential reversal points during Regular Trading Hours.Key Features
Multi-Stock TTM Wave Calculation:
The script analyzes six stocks—MSFT, AAPL, GOOGL, AMZN, NVDA, and META—by computing a weighted TTM Wave for each. It does this by calculating:
Fast and Slow EMAs: Using a configurable fast EMA (default 9) and slow EMA (default 200) to derive a basic wave signal.
Wave Smoothing and Momentum: The difference between the fast and slow EMAs is smoothed (using a simple moving average) and its rate of change is measured. An additional momentum component is then calculated via an EMA over this change.
Composite Signal: A weighted composite of the smoothed wave and the momentum (with adjustable weights) forms the final TTM Wave value for each stock.
Custom Thresholds for Signal Generation:
Each stock is assigned custom positive and negative thresholds. The indicator counts how many stocks exceed their respective positive thresholds (indicating bullish momentum) or fall below their negative thresholds (indicating bearish momentum). When at least four stocks signal in one direction, a bullish or bearish signal is plotted on the chart.
Regular Trading Hours (RTH) Focus:
Signals and data calculations are confined to user-defined Regular Trading Hours (default set to 0930-1600) to avoid potential noise from after-hours trading.
EMA Clouds for Visual Context:
In addition to the TTM Wave signals, the script overlays multiple EMA clouds:
Top Cloud: Formed by EMA(4) and EMA(5)
Middle Cloud: Formed by EMA(8) and EMA(21)
Bottom Cloud: Formed by EMA(34) and EMA(50)
These clouds dynamically change color based on the relative positioning of the EMA pairs, offering visual clues about short-term support/resistance and trend strength.
Additional Trend Indicator:
A 50-period EMA is plotted on the main chart, providing further context for overall market direction.
Summary
This indicator is designed for traders looking to integrate multi-stock momentum with visually intuitive trend confirmation. By combining a weighted TTM Wave analysis across major stocks with configurable thresholds and sophisticated EMA cloud visuals, it offers a robust tool for spotting potential entry and exit signals during regular market hours.
Update 1.0- Added Custom trading hours pre/post market and for your specific time zone
update 2.0 Thresholds in the indicators settings were only able to move by values of 1, I've changed it to be able to move by values of 0.01 for fine tuning.
Release Notes
Updated thresholds to a more fine tuned version Release Notes
Changed base wave weight from 0.7 to 1.05//// when comparing my ttm wave a weighted values to Thinkorswims ttm wave high/low, it is roughly 0.3-0.9 off, extremely close and i dont think i can get it closer without TOS ttm_wave source code. This is the best i can do, i also updated the thresholds to UCs dot indicators (expect meta @1.5 vs 20)This should be nearly identical to UCs dot indicaotoe, the closest i could get based on photos and videos.
Release Notes
Changed the whole deal and now its pretty damn close to where i want it. has a completely different TTM wave calculation thats a rep of TOS's TTM_wave (wave 2 high and low)you have to edit the source code to change the 6 underlying stocks. thresholds are simple in the settings. WOWOOOOOOOOOOOOO
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — 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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — 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.