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
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, pembuat skrip ini telah menjadikannya sebagai sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Salut untuk penulisnya! Meskipun Anda dapat menggunakannya secara gratis, perlu diingat bahwa penerbitan ulang kode ini tunduk pada Tata Tertib kami.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Skrip open-source
Dengan semangat TradingView yang sesungguhnya, pembuat skrip ini telah menjadikannya sebagai sumber terbuka, sehingga para trader dapat meninjau dan memverifikasi fungsinya. Salut untuk penulisnya! Meskipun Anda dapat menggunakannya secara gratis, perlu diingat bahwa penerbitan ulang kode ini tunduk pada Tata Tertib kami.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.