OPEN-SOURCE SCRIPT
Waves By Tradeneur
Waves By Tradeneur
Waves By Tradeneur is a momentum-based wave mapping indicator designed to help traders visualize bullish and bearish price swings more clearly.
The indicator uses the relationship between a fast EMA and a slow EMA to build a MACD-style momentum histogram, then detects significant pivot highs and pivot lows in that momentum. Once a valid pivot is confirmed, it automatically draws wave structures on price to highlight potential impulsive moves and directional flow.
What it does
• Builds a momentum histogram using the difference between fast and slow EMA
• Colors momentum bars based on strength and direction
• Detects momentum pivot highs and lows
• Filters weak signals using an ATR-style volatility threshold
• Draws bullish and bearish wave legs directly on the price chart
• Marks important momentum turning points with arrows
How to read it
• Green/Bullish waves suggest upward expansion and bullish structure
• Red/Bearish waves suggest downward expansion and bearish structure
• Histogram color changes help show whether momentum is strengthening or weakening
• Arrows mark confirmed pivot areas in momentum, which may align with wave transitions on price
Best use
This indicator is best used for:
• Understanding market structure
• Following momentum-driven waves
• Spotting possible swing transitions
• Adding confirmation to trend-following systems
• Visualizing clean price legs instead of getting lost in chart noise
Notes
Waves By Tradeneur is not meant to be used in isolation. It works best when combined with:
• Price action
• Key support and resistance
• Trend bias
• Session context
• Risk management
Waves By Tradeneur is a momentum-based wave mapping indicator designed to help traders visualize bullish and bearish price swings more clearly.
The indicator uses the relationship between a fast EMA and a slow EMA to build a MACD-style momentum histogram, then detects significant pivot highs and pivot lows in that momentum. Once a valid pivot is confirmed, it automatically draws wave structures on price to highlight potential impulsive moves and directional flow.
What it does
• Builds a momentum histogram using the difference between fast and slow EMA
• Colors momentum bars based on strength and direction
• Detects momentum pivot highs and lows
• Filters weak signals using an ATR-style volatility threshold
• Draws bullish and bearish wave legs directly on the price chart
• Marks important momentum turning points with arrows
How to read it
• Green/Bullish waves suggest upward expansion and bullish structure
• Red/Bearish waves suggest downward expansion and bearish structure
• Histogram color changes help show whether momentum is strengthening or weakening
• Arrows mark confirmed pivot areas in momentum, which may align with wave transitions on price
Best use
This indicator is best used for:
• Understanding market structure
• Following momentum-driven waves
• Spotting possible swing transitions
• Adding confirmation to trend-following systems
• Visualizing clean price legs instead of getting lost in chart noise
Notes
Waves By Tradeneur is not meant to be used in isolation. It works best when combined with:
• Price action
• Key support and resistance
• Trend bias
• Session context
• Risk management
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.