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