Direction Analysis Waves

21 Feb 2023

Description

It is an indicator that aims to provide information about the direction of the trend, the basis of which is the CCI, CMO and MFI indices.
Symbols on the indicator are for informational purposes. Information about colors and symbols is given below.

• Blue Wave: Graphical representation of the Commodity Channel Index (CCI) curve.
  
• Green/Red Wave: Graphical representation of the Chande Momentum Oscillator (CMO) curve. This curve turns green when it rises above zero, and turns red when it falls below zero.
  
• Yellow Wave: Graphical representation of the Money Flow Index (MFI) curve.
  
• Blue Line: CCI line.
  
• Green/Red Cross: CCI line shows green cross on red cross below 0 value.
  

Warning

As a result, this indicator should be expected to give an idea of the trend direction, not a trading signal.


Version

v1.0

4 Mac 2023

Nota Keluaran

• [ADDED] Added horizontal lines above 200 and -200 values.
  

18 Mac 2023

Nota Keluaran

• Values showing the amount of change according to the previous position of the line on the Commodity Channel Index (CCI) line have been added.
  
• 30 < Blue
  
• 30 - 50 Yellow
  
• 50 - 70 Orange
  
• 70 > Red
  

14 Apr 2023

Nota Keluaran

• Objects on the display can be turned on or off from the settings menu and their colors can be changed.
  

21 Apr 2023

Nota Keluaran

• CCI length has been increased from 13 to 14 as it gives more accurate results.
  

13 Mei 2023

Nota Keluaran

• Title edited.
  

11 Jun 2023

Nota Keluaran

• Added numbers indicating possible strength of direction.
  

11 Jun 2023

Nota Keluaran

• The numbers showing the possible strength of the direction have been recalculated.
  

11 Jun 2023

Nota Keluaran

• Improved the intersection of CCI waves.
  
• Changes were made to the line color as CCI cut the overbought and oversold lines.
  

25 Jun 2023

Nota Keluaran

• Wave return levels have been improved.
  

31 Ogo 2023

Nota Keluaran

Multiplier values have been removed.

17 Sep 2023

Nota Keluaran

ohlc4 and hlc3 values have been updated to produce values according to standard candlestick charts, independent of candlestick charts.

12 Jul

Nota Keluaran

• Removed invalid variables
  

12 Jul

Nota Keluaran

• Changed Indicator Title
  

15 Jul

Nota Keluaran

• The bug that caused incorrect counting backwards of numbers has been fixed.
  

15 Jul

Nota Keluaran

• Fixed rutime error.
  

13 Ogo

Nota Keluaran

• Added Turn Signal Type options.
  

17 Ogo

Nota Keluaran

• The isCCILine option now also affects the visibility of symbols belonging to the CCI line.
  

5 Sep

Nota Keluaran

• A line called the Trend Index has been added, which moves between -200 and 200 and gives information about the depth of the trend, indicating overbought when it approaches 200, and oversold when it approaches -200.
  

6 Sep

Nota Keluaran

• Fixed MFI values.