OPEN-SOURCE SCRIPT
Weighted Momentum and Volatility Indicator (WMI)
The Weighted Momentum and Volatility Indicator (WMI) is a composite technical analysis tool that combines momentum and volatility to identify potential trend changes in the underlying asset.
The WMI is displayed as an histogram that oscillates around a zero line, with increasing bars indicating a bullish trend and decreasing bars indicating a bearish trend.
The WMI is calculated by combining the Rate of Change (ROC) and Average True Range (ATR) indicators.
The ROC measures the percentage change in price over a set period of time, while the ATR measures the volatility of the asset over the same period.
The WMI is calculated by multiplying the normalized values of the ROC and ATR indicators, with the normalization process being used to adjust the values to a scale between 0 and 1.
Traders and investors can use the WMI to identify potential trend changes in the underlying asset, with increasing bars indicating a bullish trend and decreasing bars indicating a bearish trend.
The WMI can be used in conjunction with other technical analysis tools to develop a comprehensive trading strategy.
Do not hesitate to let me know your comments if you see any improvements to be made :)
The WMI is displayed as an histogram that oscillates around a zero line, with increasing bars indicating a bullish trend and decreasing bars indicating a bearish trend.
The WMI is calculated by combining the Rate of Change (ROC) and Average True Range (ATR) indicators.
The ROC measures the percentage change in price over a set period of time, while the ATR measures the volatility of the asset over the same period.
The WMI is calculated by multiplying the normalized values of the ROC and ATR indicators, with the normalization process being used to adjust the values to a scale between 0 and 1.
Traders and investors can use the WMI to identify potential trend changes in the underlying asset, with increasing bars indicating a bullish trend and decreasing bars indicating a bearish trend.
The WMI can be used in conjunction with other technical analysis tools to develop a comprehensive trading strategy.
Do not hesitate to let me know your comments if you see any improvements to be made :)
Script open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
Plan the trade, trade the plan
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
Plan the trade, trade the plan
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.