Hey everybody :),
I am new here and I have some troubles with implementing the "WaveTrend Oscillator - Signal". It is a really interesting signal, which we talked about in a class at my university. I want to adopt this code and invest into the Nike Stocks (NKE). So, my problems are:
- Which language is this? How do I translate it into python?
- Which time period do I need for the ema and the average price in this signal?
- How can I set the overbought and oversold areas?
I would be very happy if somebody could help me. Thank you in advance!
This is the signal, which you can find at tradingview.com:
// @author LazyBear
//
// If you use this code in its original/modified form, do drop me a note.
//
study(title="WaveTrend [LazyBear]", shorttitle="WT_LB")
n1 = input(10, "Channel Length")
n2 = input(21, "Average Length")
obLevel1 = input(60, "Over Bought Level 1")
obLevel2 = input(53, "Over Bought Level 2")
osLevel1 = input(-60, "Over Sold Level 1")
osLevel2 = input(-53, "Over Sold Level 2")
ap = hlc3
esa = ema(ap, n1)
d = ema(abs(ap - esa), n1)
ci = (ap - esa) / (0.015 * d)
tci = ema(ci, n2)
wt1 = tci
wt2 = sma(wt1,4)
plot(0, color=gray)
plot(obLevel1, color=red)
plot(osLevel1, color=green)
plot(obLevel2, color=red, style=3)
plot(osLevel2, color=green, style=3)
plot(wt1, color=green)
plot(wt2, color=red, style=3)
plot(wt1-wt2, color=blue, style=area, transp=80)
You can find the signal here: WaveTrend Oscillator
