QuantitativeExhaustion

Wave Channel 3D

Wave Channel 3D
Built by Ricardo idea from JR & Aloakdutt from indieTrades Jan. 2010

This indicator is very easy to build. We utilize Moving Averages with a set multiplier and an offset. Specially we try to use Fibonacci sequence series numbers (1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144...) as time space and multiplier (default 89, 8). Also included is Donchian Channel to locate strong trends and possible future support - resistance.


Examples of support/resistance on chart.


Dominant Price Trends


Future Support Resistance


Comparing Fibonacci Series Time Space - Multiplier


When Comparing make note of confluence support/resistance showing up with Fibonacci Series
Example uses DC

When Comparing make note of confluence support/resistance showing up with Fibonacci Series
Example without DC / Smooth MA
Supprimer des scripts favoris Ajouter aux scripts favoris
study(title="3D-Wave Channel", shorttitle="3D-WC", overlay=true)
timespace = input(1)
smooth = input(89)
offsetMultiplier=input(8)
useDonchianAverage = input(false)
src = input(ohlc4)
ma = useDonchianAverage ? avg(highest(smooth),lowest(smooth)) : ema(src, smooth)
plot(ma[0], color=black, offset=offsetMultiplier*01)
plot(ma[timespace*01], color=silver, offset=offsetMultiplier*02)
plot(ma[timespace*02], color=silver, offset=offsetMultiplier*03)
plot(ma[timespace*03], color=gray, offset=offsetMultiplier*04)
plot(ma[timespace*04], color=gray, offset=offsetMultiplier*05)
plot(ma[timespace*05], color=gray, offset=offsetMultiplier*06)
plot(ma[timespace*06], color=silver, offset=offsetMultiplier*07)
plot(ma[timespace*07], color=silver, offset=offsetMultiplier*08)
plot(ma[timespace*08], color=gray, offset=offsetMultiplier*09)
plot(ma[timespace*09], color=gray, offset=offsetMultiplier*10)
plot(ma[timespace*10], color=black, offset=offsetMultiplier*11)

max_ma()=>max(ma[timespace*10],max(ma[timespace*9],max(ma[timespace*8],max(ma[timespace*7],max(ma[timespace*6],max(ma[timespace*5],max(ma[timespace*4],max(ma[timespace*3],max(ma[timespace*2],max(ma[timespace*1], ma))))))))))
min_ma()=>min(ma[timespace*10],min(ma[timespace*9],min(ma[timespace*8],min(ma[timespace*7],min(ma[timespace*6],min(ma[timespace*5],min(ma[timespace*4],min(ma[timespace*3],min(ma[timespace*2],min(ma[timespace*1], ma))))))))))

top = highest(max_ma(), smooth)
bot = lowest(min_ma(), smooth)

plot(top, color=black, offset=offsetMultiplier)
plot(bot, color=black, offset=offsetMultiplier)
Today maybe it would have been more accurate to use this indicator, my stop loss support was broken too early
+3 Répondre
sigmadict sigmadict
Green live VS Grey line
I MISSED THE POP
+3 Répondre
Using setting (1,50,4)
+3 Répondre
sigmadict sigmadict
We can verify with my the S/R I previously draw. It's not far from reality, I recommend to use it as a reference and validate with a line previous S/R more precisely.
+2 Répondre
sigmadict sigmadict
An average is not a key level, depending which Time Frame you are using ... you will find the sweet spots in every Timeframes, but if you use it alone on one time frame, it will have some lags
+3 Répondre
sigmadict sigmadict
And as a preference, I think it is not mandatory to have all waterfalls, it's visually disturbing the chart
+3 Répondre
Price engages in water surfing ^_^
+3 Répondre
good indikatör ..
+3 Répondre
Lemnos Lemnos
Resistance and support to identify best
+3 Répondre
Thank you for sharing this interesting idea. The indicator initially seems to be really great based from the screenshot, but when I tested the signals they are lagging extremely behind the price movement. Even with very fast settings like smooth input(5), offsetMultiplier input(1) I could not find anything I would find useful in actual day-trading.

Don't get me wrong. I think this indicator is great when you analyze a new symbol for the very first time. It is very good to see the overall trend direction of recent weeks; to get an overall feeling where the market was headed recently.
+4 Répondre
Accueil Filtre d'actions Filtre Forex Filtre Crypto Calendrier économique Shows Comment ça marche Caractéristiques du graphique Prix Règles de conduite Les Magiciens de Pine Modérateurs Solutions site web & courtier Widgets Solutions de cartographie Bibliothèque de graphiques allégés Centre d'aide Parrainer un ami Demande de fonctionnalité Blog & News Twitter
Profil Paramètres du Profil Compte et Facturation Parrainer un ami Mes tickets au support Centre d'aide Idées Publiées Suiveurs Suivi Messages privés dialogue en ligne Se Déconnecter