OPEN-SOURCE SCRIPT
Wave3
5 moving averages + Keltner Volatility Cloud (red/green dots match the dashed lines in the original chart + light fill). Here's how the signals work:
Green triangle "Wave3" = uptrend, close breaks recent high + RSI > 50 + price closes above the cloud's upper band
Blue arrow = pullback bounce when price dips to the cloud's lower band and gets bought back up
Magenta down arrow "Full exit" = price breaks below the middle moving average
Orange flag "Scale down" = RSI drops back out of the overbought zone
"Early exit for failed breakout" = price drops back below the upper band within N bars after entering on Wave3
When you exit a trade, the var state machine calculates the profit/loss in pips for that trade, and slaps it right on the label (just like those +606 / -721 numbers on the original chart)
Green triangle "Wave3" = uptrend, close breaks recent high + RSI > 50 + price closes above the cloud's upper band
Blue arrow = pullback bounce when price dips to the cloud's lower band and gets bought back up
Magenta down arrow "Full exit" = price breaks below the middle moving average
Orange flag "Scale down" = RSI drops back out of the overbought zone
"Early exit for failed breakout" = price drops back below the upper band within N bars after entering on Wave3
When you exit a trade, the var state machine calculates the profit/loss in pips for that trade, and slaps it right on the label (just like those +606 / -721 numbers on the original chart)
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.