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Smooth Momentum Waves

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A momentum oscillator based on z-score of logarithmic returns by default, but can be applied to a mean of returns or price as well.

When applied to logarithmic returns, price, or mean of returns, it takes a series of z-score values, and applies a smoothing filter to attempt and filter out noise to derive a trend or momentum signal.
Since volatility in my previous indicators is estimated using standard deviation of log returns, this can be considered a momentum oscillator based on volatility when sourced to logarithmic returns.
The oscillator will change colors based on the trend, as well as crossing above below the 0 line.

Coloring:
Green and above 0, or Dark red when below 0 = Price increasing
Dark green and above 0, Red when below 0 = Price decreasing
Notes de version
*removed unnecessary setting from testing code*
Notes de version
*updated chart image*
OscillatorsVolatility

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Ce script est publié en code source fermé et vous pouvez l'utiliser librement. Vous pouvez le préférer pour l'utiliser sur un graphique. Vous ne pouvez pas visualiser ou modifier son code source.

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