OPEN-SOURCE SCRIPT
pranjalabhigyan
# pranjalabhigyan — Parabolic Weighted Moving Average (PWMA)
pranjalabhigyan is a custom Parabolic Weighted Moving Average (PWMA) indicator designed to provide smoother trend detection while reacting faster to price action compared to traditional moving averages.
Unlike SMA or EMA, this indicator applies a parabolic weighting system, giving progressively higher importance to recent candles. This helps traders identify momentum shifts and trend direction with improved responsiveness.
## Features
• Custom Parabolic Weighted Moving Average
• Manual timeframe selection (Multi-Timeframe Support)
• Dynamic trend color changes
• BUY and SELL signal labels
• Alert conditions for crossovers
• Clean and lightweight chart overlay
## How It Works
The indicator calculates a weighted moving average using squared (parabolic) weights. Recent price candles receive significantly more influence than older candles, allowing the PWMA to adapt quickly during trending markets while remaining smoother than many fast-moving averages.
## Signals
• BUY Signal → Price crosses above PWMA
• SELL Signal → Price crosses below PWMA
## Timeframe Flexibility
Users can manually select a custom timeframe independent of the chart timeframe.
Examples:
• 5 → 5 Minutes
• 15 → 15 Minutes
• 60 → 1 Hour
• 240 → 4 Hours
• D → Daily
## Best Use Cases
• Trend following
• Momentum confirmation
• Dynamic support and resistance
• Multi-timeframe analysis
• Scalping, intraday, and swing trading
## Disclaimer
This indicator is intended for educational and analytical purposes only and should not be considered financial advice. Always use proper risk management before trading.
pranjalabhigyan is a custom Parabolic Weighted Moving Average (PWMA) indicator designed to provide smoother trend detection while reacting faster to price action compared to traditional moving averages.
Unlike SMA or EMA, this indicator applies a parabolic weighting system, giving progressively higher importance to recent candles. This helps traders identify momentum shifts and trend direction with improved responsiveness.
## Features
• Custom Parabolic Weighted Moving Average
• Manual timeframe selection (Multi-Timeframe Support)
• Dynamic trend color changes
• BUY and SELL signal labels
• Alert conditions for crossovers
• Clean and lightweight chart overlay
## How It Works
The indicator calculates a weighted moving average using squared (parabolic) weights. Recent price candles receive significantly more influence than older candles, allowing the PWMA to adapt quickly during trending markets while remaining smoother than many fast-moving averages.
## Signals
• BUY Signal → Price crosses above PWMA
• SELL Signal → Price crosses below PWMA
## Timeframe Flexibility
Users can manually select a custom timeframe independent of the chart timeframe.
Examples:
• 5 → 5 Minutes
• 15 → 15 Minutes
• 60 → 1 Hour
• 240 → 4 Hours
• D → Daily
## Best Use Cases
• Trend following
• Momentum confirmation
• Dynamic support and resistance
• Multi-timeframe analysis
• Scalping, intraday, and swing trading
## Disclaimer
This indicator is intended for educational and analytical purposes only and should not be considered financial advice. Always use proper risk management before trading.
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。